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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
MobiKwik shares sink 15% to hit 52-week low after IPO lock-in expiry
One MobiKwik Systems, the parent company of digital payments provider MobiKwik, slumped by as much as 14.6% on Monday, hitting a fresh 52-week low of Rs 231.05, after the expiration of a three-month lock-in period. The expiry has unlocked 46 lakh shares, or 6% of the company's outstanding stock, making them eligible for trade.
The stock has experienced a significant decline, falling 61% from its post-listing high of nearly Rs 700. It has also dipped below its IPO price of Rs 269, adding to investor concerns. Over the last week, the shares have fallen by 13%, and in the past month, the drop has widened to 24%.
In the past three months, the stock has seen an 11% decrease. Technical indicators suggest continued downward pressure, with the stock trading below all five key simple moving averages (SMAs), including the 50-day SMA. Furthermore, the company's 14-day Relative Strength Index (RSI) stands at 25.2, signaling oversold conditions and potential further weakness.
For the third quarter ending December 2024, One Mobikwik reported a consolidated net loss of Rs 55.28 crore, compared to a profit of Rs 5.27 crore a year earlier. However, revenue for the quarter rose 17.7%, reaching Rs 269.47 crore, up from Rs 228.93 crore in the same period last year.
This marks a stark contrast to the company's performance in the second quarter of FY25, when it posted a smaller net loss of Rs 3.59 crore, even as its total income grew 42% year-on-year, reaching Rs 293.66 crore.
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Stock market update: Stocks that hit 52-week highs on NSE in today's trade economictimes.indiatimes.com / 1 year ago
Stock market update: Stocks that hit 52-week lows on NSE economictimes.indiatimes.com / 1 year ago
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