Nazara Shares Extend Losing Streak To Second Day, Tank 11%

Shares of Nazara Technologies have tanked by over 11%, extending a losing streak to a second day, primarily due to the passage of a new bill banning real-money gaming in India. The company clarified that it has no direct exposure to real-money gaming businesses, and its only indirect exposure is through a 46% stake in PokerBaazi. However, the market reacted negatively, as investors sold off shares amid concerns about the future of the online gaming sector. The stock's sharp decline highlights the market's sensitivity to regulatory changes in the tech industry.