India, Aug. 20 -- Shares of gaming major Nazara nosedived more than 7% to touch INR 1,300 during the intraday trading session on the BSE today.

The drop in the stock's price came after the Union Cabinet approved the Online Gaming Bill on August 19. The bill, which aims to regulate betting apps and impose strict checks on gambling, will be tabled in the Lok Sabha today.

At the time of writing, Nazara's market capitalisation stood at INR 12,041 Cr with more than 60 Lakh shares traded hands by 12:34 PM. The stock was 7.23% lower on the BSE at last check.

While the bill would be a big blow for gaming companies, Nazara said that the proposed Promotion and Regulation of Online Gaming Bill, 2025, will not have any material impact on its opera...