Sensex Rallies Over 500 Points, Dow Futures Up By 13 Points

The company's smart world & communication business also bagged a smart city project.

Note that L&T's core engineering and construction business remains best placed to benefit from any CAPEX upcycle, supported by its leaner asset-light business model and diversified segments.

Larsen & Toubro, commonly known as L&T, is an Indian multinational conglomerate, with business interests in engineering, construction, manufacturing, technology, and financial services.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, L&T shares were trading up by 1.7% on the BSE.

Moving on to news from the software sector...

Nazara Technologies Acquires OpenPlay for Rs 1.9 bn

Gaming and sports media platform Nazara Technologies has acquired Hyderabad-based skill-based gaming company OpenPlay for about Rs 1.9 bn.

The acquisition is expected to help Nazara make further inroads into the real-money gaming sector. The listed entity is also eyeing more acquisitions in the space to fill gaps in its product and distribution lineups.

Nazara's business pivots around four verticals - gamified learning, e-sports, free-to-play mobile gaming, and real-money gaming.

While gamified learning and e-sports contribute around 81% to its revenue, with each bringing in upwards of Rs 2 bn, free-to-play mobile gaming is around 4% and real-money gaming is around 2% of the mix.

The company is looking at growing this category (real-money gaming) to Rs 1 bn over the next 12-18 months. With this acquisition, it expects the revenue mix to change, with real-money gaming contributing around 8-10% by the next 12-18 months.

Founded by serial entrepreneur Sreeram Reddy Vanga, OpenPlay operates a multi-game consumer gaming platform under the 'Classic Games' brand which hosts skill-based games.

Speaking of the stock markets, the right investing process can help you win in the long term. It might offer some unexpected and undesirable results in the short term but lets you farewell when you average the outcomes.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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