NS) lost over a fifth of their value on Wednesday, while online gaming firms also dropped after the country's tax authorities imposed a 28% tax on the money such companies collect from customers.
The move, announced by India's Goods and Services Tax (GST) Council late on Tuesday, would sap the earnings of the $1.
NS), which licenses games for some children's brands, closed down 2.
6%, while Onmobile Global (ONMO.
Nazara said it expects a minimal revenue impact since the new rule will apply to its skill-based real-money games, which accounted for 5.
com' and online poker site 'Adda52.
Its stock closed down about 23%.
Reporting by Varun Vyas in Bengaluru; Editing by Savio D'Souza, Sonia Cheema and Eileen Soreng
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