The government has introduced Online Gaming Bill in Parliament. Now the government will be able to clamp down on those companies, which are providing facility of online games by investing money. The government has clearly stated in its bill draft that companies doing so can be fined Rs 1 crore and a sentence of up to 3 years. Also, the punishment of companies repeating mistakes can increase for up to 5 years and a fine of crores of rupees can be imposed.
This bill was first passed from the cabinet. Due to which, one of the largest companies in this sector saw a big decline in the shares of Nazra. The company’s stock has broken more than 8 percent. At the same time, in a few hours, the company’s market cap has been less than 1000 crores. Let us also tell you what kind of story the Nazra Tech figures are telling in the stock market…
Large drop in company shares
There is a big decline in Nazra Tech shares. According to BSE data, Nazra Tech shares were trading at Rs 1,294.10 with a decline of 7.65 per cent at 1:45 pm. Whereas during the trading session, the company’s stock fell 8.30 per cent to Rs 1,285 at Rs 1,285 at 1:15 pm. By the way, the company’s stock was opened at Rs 1,355. Whereas the company’s stock closed at Rs 1,401.35 a day earlier. On August 19, the company’s stock was seen to have a boom.
Damage to the company’s market cap
By the way, the total valuation of the company was 13 thousand crore rupees a day earlier. Which has come below 12 thousand crores on August 20. The special thing is that due to the decline in the company’s shares, the valuation of the company has come down by more than 1 thousand crores. According to the data, a day before the company’s valuation was Rs 12,961.70 crore. The valuation came to Rs 11,885.53 crore after the company’s shares reached the lower level of the day during the trading session on Wednesday. This means that the company’s market cap has seen a decline of Rs 1076 crore. According to experts, as the bills of the bill will be revealed. There may be further decline in the shares of the company.
Sensex and Nifty boom 5th consecutive day
On the other hand, the overall stock market is seeing a boom for the 5th consecutive day. The Bombay Stock Exchange’s major index Sensex is trading at 81,873.35 points with a gain of about 250 points. However, during the business session, the Sensex reached 81,911.35 points. On the other hand, the Nifty is trading with a rise of about 80 points with 25,060.50 points. However, during the Nifty trading session, he also reached the day high with 25,065.25 points. In 5 business days, the Sensex has seen a rise of about 1300 points.