Mobikwik Share Price: This stock is giving tremendous returns, up 43% in 2 days
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For the last two days, the shares of One MobiKwik Systems, the parent company of digital payment aggregator Mobikwik, are witnessing a great jump. Today, on March 19, the company’s shares saw a 19% jump (Mobikwik Share Price). The price of this share is 330.45 (Mobikwik Share Price Today). On the other hand, on the previous day i.e. March 18, a rise of 20% was registered. However, despite the rise, the stock is currently well below its all-time high. It is facing selling pressure.
Why are the shares rising? Mobikwik Share Price
Let us tell you that this stock has seen a rise of 43% in the last two trading sessions. The main reason for this is the end of the IPO lock-in period (mobikwik share price ipo) on March 17. On this day, 46 lakh shares, which is about 6% of the total outstanding stocks of the company, were unlocked and became available for trading. After this, the trend of investors increased towards the stock.
- On March 17, the stock fell 15% to a 52-week low of Rs 231.
- On March 18, there was a tremendous recovery and the stock closed at an upper circuit, up 20%.
- On March 19, the stock maintained its momentum and rose 19% to reach Rs 355.
Still 50% below all-time high
However, even after this spectacular two-day rise, Mobikwik shares are still 50% below the all-time high of Rs 698 touched in December 2024. Let us tell you that the stock has fallen 35% in the last three months. Whereas in the last one month, it has seen a recovery of 8%.
According to SMA i.e. Simple Moving Average, the stock is still trading below the 50-day moving average. Which indicates that selling pressure may remain on the stock.
How was the start of Mobikwik IPO?
Mobikwik made a strong entry into the stock market in December 2024. The company’s shares were listed with a premium of 57.71% on NSE and 58.51% on BSE.
- NSE Listing Price: ₹440 per share
- BSE Listing Price: ₹442.25 per share
A look at the company’s financials
Mobikwik reported a loss of Rs 55.28 crore in the quarter ended December 2024. Whereas a profit of Rs 5.27 crore was made in the same period a year ago. However, during this period the company’s revenue grew by 17.7% to Rs 269.47 crore.
What is the signal for investors?
The rise in Mobikwik shares has caught the attention of investors. But for long term investment, it will be important to keep an eye on the fundamentals of the company.
Disclaimer: This article is written for information purposes only. Do not take it as investment advice. Consult your financial advisor before investing.
