JEFFERIES ON NAZARA TECH Maintain BUY , Target upped Rs 860/share Growth outlook for Nodwin and Sportskeeda remains strong RMG remains an attractive market Nazara is unlikely to make a big play before regulatory clarity emerges Raise estimates by 5-13%

Jefferies on Nazara (management meet takeaways) Buy, TP Raised to Rs 860, raise est. by 5-13% Growth outlook for Nodwin & Sportskeeda remains strong Recent price increases in Kiddopia & acquisition of Wildworks will help drive growth in early learning segment