External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

External broker reports(aggregated public sources)

Equity Bottom-Up

<p>We initiate coverage on Nazara Technologies with a ‘BUY’ rating as it 1) is a unique play on rising gaming culture, given Gen Z &amp; millennials constitute ~65% of India’s population demographics 2) has an early mover advantage in evolving Esports category (organized 82% unique Esports events with 73% share in total prize pool as of 2019),that is likely to disrupt traditional sports landscape in next 4-5 years and 3) offers a direct play on emerging Ed-Tech market via Kiddopia.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We initiate coverage on Nazara Technologies with a ‘BUY’ rating as it 1) is a unique play on rising gaming culture, given Gen Z &amp; millennials constitute ~65% of India’s population demographics 2) has an early mover advantage in evolving Esports category (organized 82% unique Esports events with 73% share in total prize pool as of 2019),that is likely to disrupt traditional sports landscape in next 4-5 years and 3) offers a direct play on emerging Ed-Tech market via Kiddopia.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Nazara Technologies Limited operates as a diversified gaming and sports media platform. The Company offers interactive learning, reporting, subscriptions, as well as kids, skill based, and sports simulation games. Nazara Technologies serves customers in India.

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Nazara Technologies (NAZARA IN)

Nazara Technologies: Game On!

We initiate coverage on Nazara Technologies with a ‘BUY’ rating as it 1) is a unique play on rising gaming culture, given Gen Z & millennials...

Prabhudas Lilladhar

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