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Shares of Nazara Technologies rallied as much as 18% to hit an intraday high of ₹314 on the BSE today after reports of a large bulk deal surfaced earlier today.

As per a report by CNBC-TV18, nearly 4.9% of the company’s equity changed hands via large block deals during the morning session. The report adds that existing investors like Zerodha cofounder Nikhil Kamath and Axana Estates doubled down on the company while the list of sellers featured CEO Nitish Mittersain.

As of 13:17 IST, 1.91 Cr shares of Nazara have been traded on the BSE. No data of bulk or block deals is reflected on the bourses as of now. The story will be updated once clarity on the deals are ascertained.

The stock later saw some profit booking and was trading 15.6% higher at ₹308 apiece at 12:33 PM IST. The company’s market capitalisation stood at ₹11,430.7 Cr ($1.1 Bn) at the time.

The block deal buzz comes days after Nazara reported a multifold jump in its consolidated net profit for Q4 FY26. The gaming major’s net profit surged to ₹55.7 Cr in the March quarter from ₹4.1 Cr in the corresponding period. Sequentially, profit rose 533% from ₹8.8 Cr in Q3 FY26.

However, operating revenue declined 23.5% to ₹397.8 Cr in Q4 FY26 from ₹520.2 Cr. The company attributed the decline in revenue to the deconsolidation of its esports business NODWIN Gaming. Excluding this business, the company said Q4 revenue grew 8% YoY.

For FY26, Nazara’s operating revenue grew 12.6% YoY to ₹1,829 Cr, while profit jumped 60.8% YoY to ₹82 Cr.

At the operating level, EBITDA rose 52% to ₹78 Cr in Q4 FY26 from ₹51 Cr a year ago. EBITDA margin expanded to 19.5% from 9.8% in Q4 FY25.

For the full year, Nazara reported its highest-ever EBITDA of ₹255 Cr, up 66% from ₹153 Cr in FY25. EBITDA margin improved 450 basis points to 13.9%.

On the acquisition front, Nazara said its acquisition of Bluetile and BestPlay, its largest M&A transaction to date, will add 17 casual puzzle gaming IPs and 2.2 Cr monthly active users. The deal is expected to be completed by FY27, subject to regulatory approvals.

Management said the acquisition will significantly scale gaming revenue and EBITDA in the coming fiscal year.

Nazara also said it is embedding AI across game development, user acquisition, LiveOps, analytics, ad monetisation and customer engagement. Its World Cricket Championship 4, built using AI across engine, content and QA pipelines, is expected to enter public beta in mid-May 2026.

“We will look at potentially monetising non-core businesses for us. This could be NODWIN, it could be SportsKeeda, it could be the adtech business in due course… We definitely see the potential to unlock value and redeploy in our core gaming business,” company said.

Earlier, Nazara said it plans to raise ₹500 Crthrough a preferential issue of warrants from the likes of Riambel Capital, S Gupta Family Investments, Plutus Investment and Holding, Classic Enterprises and Founders Collective. It has also approved fresh investments in Rusk Media and Ncore Games.

Since the financial disclosure on May 12, the company’s shares have surged over 15%.

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