Nazara Technologies stock price down 75%? Here’s what’s really happening
Shares of Nazara Technologies witnessed a sharp price adjustment on Friday, September 26, seemingly falling by 75%, as the stock began trading ex-bonus and ex-split. The stock fell to a low of Rs 280.70 on the BSE, compared to its previous close of Rs 1,116.85.
However, this apparent 75% decline is not due to any negative news or fundamental weakness, but a result of two corporate actions, a 1:2 stock split and a 1:1 bonus issue, implemented simultaneously by the company.
Nazara Technologies, a leading gaming and sports media company, had earlier approved the sub-division of shares by reducing the face value from Rs 4 to Rs 2. This effectively doubled the number of shares held by investors. In addition to the stock split, the company also…
