18 Nov 2025 | 3 Mins Read
ICICI Securities recommends buying Nazara Technologies at Rs 275
Flipitmoney
ICICI Securities upgrades Nazara Technologies rating to HOLD from Reduce, with a target price of INR 275. The company recognised a INR 9.2bn impairment on its Moonshine Technologies investment due to a regulatory ban, but expects improved performance in its gaming business, aiming for a 20-25% EBITDA margin in the medium term.