One of the leading cinema exhibitors, PVR, has partnered with Nodwin Games, a subsidiary of Nazara Technologies, to broadcast live e-sports gaming tournaments on big screen, Zee Business Senior Research Analyst Kushal Gupta said in his report on Tuesday.

Terming it’s an innovation in cinema exhibition space, the research analyst says, the starting ticket price of this live streaming of e-sports would be around Rs 150-200 per head and also adds it’s a win-win agreement for both the partners.

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As pilot project, PVR would live stream the competition of the multiplayer game Battlegrounds Mobile India (BGMI), an Indian version of PUBG, which was banned last year. This would be launched in four cities – Gurugram, Indore, Hyderabad and Mumbai.

Nazara Technologies hold 55 per cent stake in Nodwin Gaming and around 41 per cent of the overall revenue comes from this subsidiary.

PVR currently has a cinema circuit comprising 849 screens in 72 cities of India and Sri Lanka. 

Both the companies’ shares on the back of this pact were on a roll and also touched a new 52-week high. Newly listed Nazara Technologies stock jumped around 7 per cent to Rs 2498 per share, while PVR counter surged near 2 per cent to Rs 1678.65 per share on the BSE intraday trade on Tuesday. 

At around 03:16 pm, the shares of PVR were trading 0.6 per cent higher to Rs 1658.45 per share, while Nazara shares were gaining near 6 per cent to Rs 2483 per share on the BSE, as compared to 0.77 per cent rise in the S&P BSE Sensex on Tuesday.

An ace investor Rakesh Jhunjhunwala, who is also termed as the Big Bull of the Indian stock market, hold 32,94,310 equity shares, which comprises 10.82 per cent of holding in the company, as per the company’s June 2021 shareholding pattern available on the BSE.

Source: https://www.zeebiz.com/market-news/news-e-sports-live-streaming-in-theatres-pvr-signs-pact-with-nazara-technologies-arms-nodwin-games-both-stocks-hit-52-week-high-166954

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