Tired of too many ads? Remove Ads
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.
Tired of too many ads? Remove Ads
MobiKwik's shares made an impressive debut on December 18, 2024, with a 58.51% premium over the IPO price of Rs 279, listing at Rs 442.25 on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), the shares were priced at Rs 440, reflecting a 57.7% premium.
Popular in Markets
Also read | Ola Electric shares slide 4% amid insolvency petition against subsidiary
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
