On-line gaming ban: How a lot Nikhil Kamath and Madhusudan Kela misplaced in Nazara shares

The steep decline in Nazara Technologies shares has resulted in a mixed Rs 100 crore mark-to-market loss for ace buyers Nikhil Kamath and Madhusudan Kela in simply 4 buying and selling classes.

The worth of Kamath’s stake fell from Rs 211 crore on August 19 to Rs 152.7 crore immediately, translating right into a lack of about Rs 58.30 crore in simply 4 days. Kela’s stake worth dropped from Rs 153.63 crore to Rs 111.25 crore throughout the identical interval, wiping out about Rs 42.38 crore.

As per their June 2025 quarter shareholding, Kamath Associates, owned by Nikhil Kamath, holds 15.04 lakh shares (1.62%), whereas Madhusudan Kela holds 10.96 lakh shares (1.18%) in Nazara.

These are mark-to-market losses primarily based on present costs. The buyers should be sitting on total earnings relying on once they gathered the shares, as their buy costs might have been considerably decrease.

The inventory, which has tumbled 26.6% throughout this era, hit an intraday low of Rs 1,014.75 on the BSE immediately, down 11% in a single session.

In sharp distinction, Rekha Jhunjhunwala, spouse of late Rakesh Jhunjhunwala, had totally exited Nazara in June 2025, months earlier than the federal government’s proposed on-line gaming rules triggered a meltdown within the inventory.By March 2025, she held a 7.06% stake (61.8 lakh shares), which she offered on June 13 throughout the BSE and NSE at a mean value of round Rs 1,225 per share, netting about Rs 334 crore. Her exit additionally marked the closure of the late Rakesh Jhunjhunwala’s 10.82% stake within the firm, which she had inherited.Adding to investor issues, ICICI Securities downgraded Nazara Technologies to ‘Reduce’ (from Add) final week and slashed its goal value to Rs 1,110 from Rs 1,500 earlier, citing the regulatory overhang.The brokerage wrote: “In our view, the implementation of the bill would essentially make online Real Money Gaming infeasible in India… Given the ban on RMG, we now cut this to zero.” The revised goal has already been breached with immediately’s sharp fall.

Technically, the momentum indicators stay weak, with RSI at 40 trending downward, suggesting additional bearish strain, whereas the MACD has given a detrimental crossover, confirming ongoing weak point.

“Sustained trading above Rs 1,050 will be the first sign of strength, whereas a breakdown below Rs 900 may invite deeper correction,” steered Mandar Bhojane, Senior Technical & Derivate Analyst at Choice Broking.

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