The Indian gaming sector is going through an amazing boom in 2025, and gaming stocks are among the most thrilling investment options for intelligent investors. India’s online gaming market is expected to grow to ₹316 billion by 2027, with a CAGR of 10.8%, and these companies are well placed to capitalize on the digital entertainment revolution of the country. From esports and mobile gaming to casino business and game development services, gaming stocks provide the opportunity for investors to become part of one of the fastest-growing industries in the Indian economy.
Why Invest in Gaming Stocks?
Gaming stocks are the companies engaged in producing, running, or enabling video games, mobile games, online gaming platforms, and entertainment services. Indian gaming industry is supported by some strong growth drivers that render these stocks appealing for long-term investors. First, India’s gaming audience has grown to 488 million in 2024 and is likely to surpass 517 million by 2025, creating an enormous addressable market. Second, availability of smartphones and affordable internet has brought gaming within reach of millions of Indians both in urban and rural India.
The industry also gains from rising digital adoption, increasing disposable income, and shifting entertainment habits among young Indians. On top of that, the government interest in AVGC (Animation, Visual Effects, Gaming, Comics) industry and 5G launch serves as powerful tailwinds for growth. With more than 500 million smartphone users and increasing fintech penetration that facilitates digital payments, India emerged as a mobile games-first market with vast potential.
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Top 10 Gaming Stocks in India 2025
The following are the top 10 gaming stocks that provide the best investment prospects in 2025, taking into consideration their market standing, financials, and growth potential:
| Company Name | Current Price (₹) | Market Cap (₹ Cr) | PE Ratio | 52-Week High (₹) | 52-Week Low (₹) | Dividend Yield (%) |
|---|---|---|---|---|---|---|
| Tata Consultancy Services Ltd | 2,896.10 | 10,47,834 | 21.58 | 4,493.80 | 2,891.30 | 4.35 |
| Infosys Ltd | 1,441.80 | 5,97,670 | 22.37 | 1,999.60 | 1,307.00 | 2.98 |
| Tech Mahindra Ltd | 1,410.70 | 1,38,187 | 32.50 | 1,807.70 | 1,209.40 | 2.88 |
| Zensar Technologies Ltd | 749.55 | 17,040 | 26.22 | 984.95 | 535.85 | 1.73 |
| Nazara Technologies Ltd | 254.60 | 9,854 | 129.97 | 363.25 | 208.64 | 0.00 |
| Wonderla Holidays Ltd | 578.75 | 3,704 | 37.55 | 748.00 | 520.00 | 0.36 |
| Imagicaaworld Entertainment Ltd | 53.79 | 3,044 | 54.44 | 95.00 | 45.00 | 0.00 |
| Delta Corp Ltd | 77.58 | 2,094 | 14.02 | 131.60 | 76.66 | 1.57 |
| OnMobile Global Ltd | 52.47 | 712 | -60.85 | 95.30 | 40.00 | 0.00 |
| COSCO (India) Ltd | 262.50 | 650 | 20.50 | 350.00 | 200.00 | 1.20 |
Brief Explanation of 10 Gaming Stocks in India
Tata Consultancy Services (TCS)
TCS is India’s largest IT services provider and finds a place in gaming stocks due to its strong foothold in game development services, digital engineering, and gamification projects for international customers. With a market cap of ₹10,47,834 crores, TCS offers backend technology, cloud game deployment, and platform engineering solutions to game companies globally. The robust financial health of the company with PE ratio of 21.58 and dividend yield of 4.35% makes it an attractive pick for conservative investors looking at the gaming industry.
Infosys Ltd
Infosys offers consulting and digital transformation solutions to video game and entertainment firms across the world, such as cloud-based game hosting, platform development, and user insights. With a market capitalisation of ₹5,97,670 crores and a PE multiple of 22.37, Infosys provides stable exposure to the gaming ecosystem via its technology business. The company’s revenue per employee of $59,856 is the highest among India-focussed vendors, reflecting operational excellence. Infosys offers a dividend yield of 2.98%, making it appropriate for income-chasing investors.
Tech Mahindra Ltd
Tech Mahindra is a leading game development firm in India providing game development outsourcing, AR/VR modules, and 3D immersive environments. The firm caters to gaming studios, education platforms, and metaverse pilots with end-to-end technology solutions. With a market capitalization of ₹1,38,187 crores and a decent PE ratio of 32.50, Tech Mahindra offers direct exposure to game development services. The company’s emphasis on emerging technologies such as AR/VR makes it a strong candidate for emerging trends in the gaming space.
Zensar Technologies Ltd
Zensar services global game publishers with software engineering, UI/UX design, and testing, which makes it a part of the overall gaming supply chain. Tools that facilitate development cycles and deployment scalability for game companies are provided by the company. Zensar is trading at reasonable valuations with a market cap of ₹17,040 crores and PE ratio of 26.22. The company has given good returns with 256.93% growth over 3 years.
Nazara Technologies Ltd
Nazara is the sole listed pure-gaming pure-play in India with a diversified play in mobile gaming, eSports, and gamified learning. The firm’s portfolio includes gamified learning (Kiddopia), eSports (NODWIN Gaming), and sports media (Sportskeeda). Having zero debt-to-equity ratio with a market cap of ₹9,854 crores, Nazara provides direct access to the Indian gaming boom. Nevertheless, investors need to consider the premium valuations reflected in the high PE ratio of 129.97.
Wonderla Holidays Ltd
Wonderla is a chain of amusement parks located throughout India and is the leisure and entertainment and recreational gaming business. Wonderla has posted great returns with solid brand recall in family entertainment. With a market cap of ₹3,704 crores and PE ratio of 37.55, Wonderla enjoys India’s expanding leisure and entertainment industry. The company is in good financial health with positive return on equity.
Imagicaaworld Entertainment Ltd
Imagicaaworld owns and manages India’s top theme and water parks, such as Imagicaa, WetnJoy, and Aqua Imagicaa. The consolidated net profit of the company doubled by 44.9% in Q4 FY25 on robust revenue growth of 66.7%. With a market capitalization of ₹3,044 crores, the company recently added a subsidiary for digital entertainment services. Based on recent challenges, Imagicaaworld provides exposure to the entertainment and gaming infrastructure of India.
Delta Corp Ltd
Delta Corp is into gaming, hospitality, and skill gaming online segments, and thus it is India’s largest casino and gaming company. The company is practically debt-free and is available at low valuations with PE ratio of 14.02. Delta Corp has a market cap of ₹2,094 crores and a dividend yield of 1.57%. It provides direct access to real-money gaming. The company, however, does have regulatory issues and has reported mixed business performance.
OnMobile Global Ltd
OnMobile Global offers value-added mobile platform services, such as digital content, gaming, and entertainment services to consumers across the globe. The firm has also experienced financial setbacks with recent losses but continues to be rooted in mobile gaming and digital content. OnMobile, with a market capitalization of ₹712 crores, offers access to mobile gaming and digital entertainment services. The negative PE ratio reflects recent losses, thus being appropriate for risk-acceptant investors only.
COSCO (India) Ltd
COSCO India has exposure to gaming in terms of sports goods manufacturing and entertainment equipment and sports-related products. The company has good past performance with decent valuations. With an approximate market cap of ₹650 crores and PE ratio of 20.50, COSCO gives indirect exposure to the gaming and sports entertainment market. The company provides a dividend yield of 1.20% for income-focused investors.
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Investment Considerations
- Growth Drivers for Gaming Industry: The Indian gaming sector is supported by several structural growth drivers favoring long-term investment opportunities. The industry has expanded at 27.5% CAGR during 2019-2022 and is expected to continue strong growth momentum. Deepening smartphone penetration, low-cost data plans, and rising adoption of digital payments are building a positive environment for gaming firms. Further, the increasing mainstream acceptance of gaming and growth in the esports segment open up new revenue avenues.
- Investment Benefits and Risks: Investment in gaming stocks has a number of investment advantages such as exposure to structural industry growth, multiplicity of business models, and mobile-first opportunity to expand. Nevertheless, the following risks need consideration by investors: regulatory uncertainty, particularly for real-money gaming operators, steep user acquisition costs, and reliance on third-party platforms like Google Play Store. The few listed companies in India’s gaming sector also constrains diversification.
- Market Outlook: The Indian online gaming industry is projected to hit ₹316 billion by 2027, sustained by rising user interactions and better monetization trends. Strong intellectual property, diversified earnings streams, and sound financials are expected to outperform companies. The government’s favorable policies towards the AVGC industry and ongoing digital infrastructure construction offer favorable long-term tailwinds.
Conclusion
Indian gaming stocks offer compelling investment opportunities for 2025, supported by robust demographic tailwinds and fast-paced digital growth. The above 10 stocks are the strongest bet across various segments of the gaming universe, ranging from pure-play gaming entities to tech service providers.
For conservative investors, TCS and Infosys provide stable exposure to the gaming industry via their technology services with good dividend yields. Growth investors can look at Nazara Technologies for direct gaming exposure and Tech Mahindra for game development services. Value investors could look at Delta Corp and Zensar Technologies, which are available at reasonable valuations with good fundamentals.
The secret to profitable gaming stock investing is recognizing that this industry thrives on India’s digital revolution and shifting entertainment choices. Those enterprises with varied business models, robust intellectual property, and cash strength are expected to be winners. With more than 500 million game users and increasing, India is one of the globe’s biggest gaming markets with immense potential.
Investors must spread their bets across various gaming sub-sectors instead of focusing in one sector. The synergy between structural industry growth, mobile-led market dynamics, and government-favourable policies makes gaming stocks a great investment theme for 2025 and beyond. With India’s gaming sector continuing its path of swift transformation, these firms are nicely placed to generate robust returns to long-term patient investors who believe in the sector’s long-term opportunities.
Disclaimer: This is for educational purposes only and should not be regarded as investment advice. Stock investments carry market risks, especially in the gaming industry with regulatory uncertainties. Kindly perform extensive research and seek advice from a financial advisor prior to making investment choices.
