Rekha Jhunjhunwala Trims Stake in Nazara Technologies, Offloads Shares Worth Nearly INR 380 Crore
The most substantial chunk—17.38 lakh shares, or 1.98 percent of the company's equity—was sold between June 2 and June 6. This initial tranche was valued at over INR 218 crore
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Rekha Jhunjhunwala, executor of the estate of the late investor Rakesh Jhunjhunwala, has significantly pared down her stake in gaming firm Nazara Technologies this month, offloading nearly 2.5 per cent of the company's equity in a series of open market transactions.
Between June 2 and June 10, Rekha Jhunjhunwala sold a total of 29.75 lakh shares in the company. The average price during this period hovered around INR 1,256 per share, pegging the cumulative transaction value at approximately INR 379.6 crore. The stake sale has brought her holding down to 3.7 per cent from 7.1 per cent at the end of the March quarter.
The most substantial chunk—17.38 lakh shares, or 1.98 percent of the company's equity—was sold between June 2 and June 6. This initial tranche was valued at over INR 218 crore. On June 6 alone, 4.3 lakh shares, or another 0.5 percent, were disposed of, as per exchange filings. A further 12.4 lakh shares were sold between June 9 and 10, completing the exit sequence.
Shares of Nazara Technologies responded with resilience. As of June 11, the stock closed over one per cent higher at INR 1,282 per share, and on June 12, it ended the session up 0.5 per cent at INR 1,273.85 on the BSE. Over the past month, the stock has gained nearly 10 per cent, and it is up more than 27 per cent in the last six months.
In a filing with the exchanges, the company confirmed that the estate of the late Rakesh Jhunjhunwala had cumulatively sold and gifted 17.2 lakh shares, or about 2 percent of the equity, between March 30, 2021 and June 5, 2025. "On June 6, 2025 they sold further 4.3 lakh shares or 0.5 per cent, thereby resulting in total change of 2.5 per cent since the last disclosure made on March 30, 2021," the filing stated.
Rakesh Jhunjhunwala had originally acquired a 10.8 per cent stake—amounting to 33.9 lakh shares—in Nazara Technologies on March 25, 2021. It remained his only investment in a new-age tech company, setting it apart from his portfolio of legacy and financial sector heavyweights like Titan, Tata Communications, and Star Health.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
3 hours ago
- Fox News
The new map that could be guiding Trump's Middle East moves
Video President Donald Trump came back into office promising no new wars. So far, he's kept that promise. But he's also left much of Washington — and many of America's allies — confused by a series of rapid, unexpected moves across the Middle East. In just a few months, Trump has reopened backchannels with Iran, then turned around and threatened its regime with collapse. He's kept Israel at arm's length — skipping it on his regional tour — before signaling support once again. He lifted U.S. sanctions on Syria's Islamist leader, a figure long treated as untouchable in Washington. And he made headlines by hosting Pakistan's top general at the White House, even as India publicly objected. For those watching closely, it's been hard to pin down a clear doctrine. Critics see improvisation — sometimes even contradiction. But step back, and a pattern begins to emerge. It's not about ideology, democracy promotion, or traditional alliances. It's about access. Geography. Trade. More specifically, it may be about restarting a long-stalled infrastructure project meant to bypass China — and put the United States back at the center of a strategic economic corridor stretching from India to Europe. The project is called the India–Middle East–Europe Corridor, or IMEC. Most Americans have never heard of it. It was launched in 2023 at the G20 summit in New Delhi, as a joint initiative among the U.S., India, Saudi Arabia, the UAE and the European Union. Its goal? To build a modern infrastructure link connecting South Asia to Europe — without passing through Chinese territory or relying on Chinese capital. IMEC's vision is bold but simple: Indian goods would travel west via rail and ports through the Gulf, across Israel, and on to European markets. Along the way, the corridor would connect not just trade routes, but energy pipelines, digital cables, and logistics hubs. It would be the first serious alternative to China's Belt and Road Initiative — a way for the U.S. and its partners to build influence without boots on the ground. But before construction could begin, war broke out in Gaza. The October 2023 Hamas attacks and Israel's military response sent the region into crisis. Normalization talks between Saudi Arabia and Israel fell apart. The Red Sea became a warzone for shipping. And Gulf capital flows paused. The corridor — and the broader idea of using infrastructure to tie the region together — was quietly shelved. Video That's the backdrop for Trump's current moves. Taken individually, they seem scattered. Taken together, they align with the logic of clearing obstacles to infrastructure. Trump may not be drawing maps in the Situation Room. But his instincts — for leverage, dealmaking and unpredictability — are removing the very roadblocks that halted IMEC in the first place. His approach to Iran is a prime example. In April, backchannels were reopened on the nuclear front. In May, a Yemen truce was brokered — reducing attacks on Gulf shipping. In June, after Israeli strikes inside Iran, Trump escalated rhetorically, calling for Iran's "unconditional surrender." That combination of engagement and pressure may sound erratic. But it mirrors the approach that cleared a diplomatic path with North Korea: soften the edges, then apply public pressure. Meanwhile, Trump's temporary distancing from Israel is harder to miss. He skipped it on his regional tour and avoided aligning with Prime Minister Netanyahu's continued hard-line approach to Gaza. Instead, he praised Qatar — a U.S. military partner and quiet mediator in the Gaza talks — and signaled support for Gulf-led reconstruction plans. The message: if Israel refuses to engage in regional stabilization, it won't control the map. Trump also made the unexpected decision to lift U.S. sanctions on Syria's new leader, President Ahmad al-Sharaa — a figure with a past in Islamist groups, now leading a transitional government backed by the UAE. Critics saw the move as legitimizing extremism. But in practice, it unlocked regional financing and access to transit corridors once blocked by U.S. policy. Even the outreach to Pakistan — which angered India — fits a broader infrastructure lens. Pakistan borders Iran, influences Taliban-controlled Afghanistan, and maintains ties with Gulf militaries. Welcoming Pakistan's military chief was less about loyalty, and more about leverage. In corridor politics, geography often trumps alliances. None of this means Trump has a master plan. There's no confirmed strategy memo that links these moves to IMEC. And the region remains volatile. Iran's internal stability is far from guaranteed. The Gaza conflict could reignite. Saudi and Qatari interests don't always align. But there's a growing logic underneath the diplomacy: de-escalate just enough conflict to make capital flow again — and make corridors investable. That logic may not be ideologically pure. It certainly isn't about spreading democracy. But it reflects a real shift in U.S. foreign policy. Call it infrastructure-first geopolitics — where trade routes, ports and pipelines matter more than treaties and summits. To be clear, the United States isn't the only player thinking this way. China's Belt and Road Initiative has been advancing the same model for over a decade. Turkey, Iran and Russia are also exploring new logistics and energy corridors. But what sets IMEC apart — and what makes Trump's recent moves notable — is that it offers an opening for the U.S. to compete without large-scale military deployments or decades-long aid packages. Even the outreach to Pakistan — which angered India — fits a broader infrastructure lens. Pakistan borders Iran, influences Taliban-controlled Afghanistan, and maintains ties with Gulf militaries. For all his unpredictability, Trump has always had a sense for economic leverage. That may be what we're seeing here: less a doctrine than a direction. Less about grand visions, and more about unlocking chokepoints. There's no guarantee it will work. The region could turn on a dime. And the corridor could remain, as it is now, a partially built concept waiting on political will. But Trump's moves suggest he's trying to build the conditions for it to restart — not by talking about peace, but by making peace a condition for investment. In a region long shaped by wars over ideology and territory, that may be its own kind of strategy. Tanvi Ratna is a policy analyst and engineer with a decade of experience in statecraft at the intersection of geopolitics, economics, and technology. She has worked on Capitol Hill, at EY, at CoinDesk and others, shaping policy across sectors from manufacturing to AI. Follow her takes on statecraft on X and Substack.
Yahoo
3 hours ago
- Yahoo
Tesla (NasdaqGS:TSLA) Expands Into Indian Market With First Showrooms Opening In July
Tesla marked a significant milestone with a 29% increase in its share price over the last quarter, aligning with broader market trends despite facing challenges. The announcement of opening its first showrooms in India represents a substantial step into a key market, potentially boosting investor sentiment. Meanwhile, the resignation of a key executive and the inclusion of a new board member might have created mixed reactions, though these were countered by expanded market opportunities like Tesla's Supercharger accessibility for Kia EV owners. Amidst geopolitical tensions influencing oil prices, Tesla's strategic moves seem to have positively reinforced its quarterly performance. We've discovered 2 warning signs for Tesla that you should be aware of before investing here. Explore 26 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. The recent developments at Tesla hold promising implications for its strategic vision and broader market appeal. The significant strides into the Indian market, coupled with enhanced Supercharger opportunities, are poised to elevate revenue streams by expanding Tesla's global footprint. Over the last five years, the company's total shareholder return exceeded 403%, underscoring its capacity to capitalize on emerging opportunities and engage investor confidence. In the shorter term, Tesla's shares surpassed the US market return of 10.4% and the US Auto industry's 61.9% over the past year, although its high volatility suggests mixed investor sentiment. Recent executive changes and new board appointments, while initially may have unsettled sentiment, could potentially drive the company's strategic advancements by bringing fresh perspectives to leadership. The anticipated influence of Tesla's ventures like the robotaxi, Cybercab, and Optimus humanoid robots aims to open new revenue channels that may positively affect earnings forecasts, potentially contributing to an expected annual earnings growth of 27.5% over the next three years. The short-term 29% share price increase reflects investor optimism, though the current price of US$275.35 is just 4.9% shy of the analyst consensus price target of US$289.44, indicating a perceived fair valuation based on projected earnings and profit margins. Explore Tesla's analyst forecasts in our growth report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:TSLA. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
Shell boss warns of ‘huge impact on trade' if Israel-Iran conflict escalates
An escalation in the Middle East conflict could have a 'huge impact on global trade', the boss of the oil company Shell has warned, as Donald Trump suggested the US could enter the air war between Israel and Iran. Shell, one of the biggest traders of oil and natural gas in the world, said it had contingency plans in case the conflict disrupted flows from the region. There is a risk that a blockage in the strait of Hormuz could shock the energy market. Speaking at an energy conference in Tokyo, Wael Sawan, the chief executive of Shell, said: 'If that artery is blocked, for whatever reason, it has a huge impact on global trade… We have plans in the eventuality that things deteriorate.' About a quarter of the world's oil trade passes through the strait of Hormuz, which links the Persian Gulf to the Indian Ocean. Oil prices have risen over the last week as the conflict has escalated. On Thursday, Brent crude rose nearly 1% to more than $77 (£57) a barrel. Interactive 'What is particularly challenging right now is some of the jamming that's happening,' said Sawan, referring to the interference in navigation signals in and around the Persian Gulf. The growing risk in the area has also more than doubled the price to charter large oil tankers through the strait of Hormuz, according to figures from the data and analytics firm Clarksons Research, reported by the Financial Times. The daily price to charter a very large crude carrier, which is capable of carrying 2m barrels of oil, from the Gulf to China rose from $19,998 two days before Israel's attack on Iran last week to $47,609 on Wednesday. The sharp rise in costs far outpaces the 12% increase in the wider Baltic Dirty Tanker index over the same period. The index tracks crude oil tanker rates across the world. Meanwhile, global stocks slipped slightly on Thursday, as investors bought assets that are typically more stable during volatile periods such as gold and the US dollar. The precious metal ticked up 0.1% to $3,372.36 an ounce, while the dollar rose against the euro, as well as the Australian and New Zealand dollars. Trump said on Wednesday he had not yet made a final decision about the US entering the war. 'I may do it, I may not do it. I mean, nobody knows what I'm going to do,' the president said. Kyle Rodda, a senior financial markets analyst at said: 'Market participants remain edgy and uncertain. Speculation remains rife – fed probably strategically by the Trump administration – that the US will intervene, something that would mark a material escalation and could invite direct retaliation against the US by Iran.' 'Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth,' Rodda added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
