Nazara Tech jumps over 3% on buying majority stake in Pro Football Network

Nazara Technologies jumped 3.4 per cent to hit a high of Rs 524 in intra-day deals on Thursday after the company said it acquired a majority stake in Pro Football Network LLC (PFN).

At 10:00 AM, the stock was trading 2 per cent at Rs 517 as against a 0.2 per cent decline in the S&P BSE Sensex. The counter had seen trades of around 27,000 shares.

Nazara Technologies an Indian gaming firm is a subsidiary of Sportskeeda. Absolute Sports, the parent company of Sportskeeda, on Wednesday said it acquired a 73.27 per cent stake in Pro Football Network worth $1.82 million (about Rs 16 crore) through primary infusion of capital and secondary stock purchases.