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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian gaming company Nazara Technologies pledges $100 million for global expansionNitish Mittersain, CEO of Nazara Technologies, says "we see significant opportunities in scaling up through acquisitions."
Organizations: Nazara Technologies
Indian online gaming companies' shares fall on 28% tax blow
  + stars: | 2023-07-12 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, July 12 (Reuters) - Shares of Indian online gaming firms Nazara Technologies (NAZA.NS), Onmobile Global (ONMO.NS), and Delta Corp (DELT.NS) slid on Wednesday, a day after the government imposed a 28% tax on the funds collected by online gaming companies from customers. The tax will not differentiate skill-based games from those based on chance, Maharashtra state minister Sudhir Mungantiwar said on Tuesday. Shares of Nazara Technologies and Onmobile Gaming fell as much as 14.2% and 8.9% before they trimmed some losses. Delta Corp slipped 10% to hit its lower circuit. Nazara and Delta have risen 21.6% and 15.9%, respectively, so far this year as of Tuesday's close, while Onmobile has fallen 11.9%.
Persons: Nirmala Sitharaman, Sudhir Mungantiwar, Onmobile, Varun Vyas, Savio D'Souza, Sonia Cheema Organizations: Nazara Technologies, Onmobile, Delta Corp, Thomson Locations: BENGALURU, Maharashtra, Bengaluru
India tech minister plans to meet startups on SVB fallout
  + stars: | 2023-03-12 | by ( ) www.reuters.com   time to read: +3 min
"Start-ups are an important part of the new India economy. I will meet with Indian Startups this week to understand impact on them and how the government can help during the crisis," Rajeev Chandrasekhar, the state minister for IT said on Twitter. "Spoke to some founders and it is very bad," Ashish Dave, CEO of Mirae Asset Venture Investments (India), wrote in a tweet. "Especially for Indian founders ... who setup their U.S. companies and raised their initial round, SVB is default bank. Software firm Freshworks (FRSH.O) said it has minimal exposure to the SVB situation relative to the company's overall balance sheet.
India tech minister says to meet startups on SVB fallout
  + stars: | 2023-03-12 | by ( ) www.reuters.com   time to read: +2 min
MUMBAI, March 12 (Reuters) - India's state minister for technology said on Sunday he will meet start-ups this week to asses the impact on them of Silicon Valley Bank's (SIVB.O) collapse, as concerns rise about the fallout for the Indian start-up sector. "Start-ups are an important part of the new India economy. I will meet with Indian Startups this week to understand impact on them and how the government can help during the crisis," Rajeev Chandrasekhar, the state minister for IT said on Twitter. "Spoke to some founders and it is very bad," Ashish Dave, CEO of Mirae Asset Venture Investments (India), wrote in a tweet. "Especially for Indian founders ... who setup their U.S. companies and raised their initial round, SVB is default bank.
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