1 day ago
MobiKwik Shares Jump 14% as Trading Volumes Surge
MobiKwik’s shares rose sharply on Tuesday as many more shares than usual were traded.
Some analysts said the stock had moved above important price averages, which could be a positive sign.
They also said the price might pause or fall a little after rising so quickly.
They pointed to about ₹200–₹205 as an important support level and placed near-term resistance between ₹240 and ₹260.
MobiKwik co-founder Upasana Taku bought more shares in September.
The company reported higher quarterly profit than in the previous quarter, but its revenue and EBITDA were lower.
A new UPI fee framework and the company’s financial results are also in focus.
The figures do not guarantee that the share price will keep rising.
One MobiKwik Systems shares rose as much as 13.7% to ₹229.55 on Tuesday, October 6.
Trading volume reached about 27.32 million shares by 12:09:48 IST, far above recent averages.
Analysts cited a technical breakout and identified support around ₹200–₹205, with resistance estimates ranging from ₹240 to ₹260.
Co-founder Upasana Taku bought 107,000 shares in September, raising her holding to 8.065 million shares.
In Q1FY27, net profit rose 76.7% quarter on quarter to ₹7.6 crore, while revenue and EBITDA declined.
- Who
- One MobiKwik Systems and its co-founder Upasana Taku.
- What
- MobiKwik shares rose sharply amid unusually high trading volume.
- Where
- On the BSE.
- When
- Tuesday, October 6; Taku's reported purchases took place on September 28 and 29.
- Why
- The article links the rally to a technical breakout and renewed buying interest; it does not establish a single definitive cause.
Bullish technical signals
Near-term risks and caution
What the breakout may mean
Bullish technical signals
Kkunal V. Parar described a breakout from a Symmetrical Triangle and said the stock had reclaimed its 200-day moving average. Mayank Jain said it had moved above its 20-day, 50-day and 200-day averages.
Near-term risks and caution
Parar noted that the RSI had crossed 70, which can signal that the stock is overbought and could see short-term consolidation or profit booking.
Price levels ahead
Bullish technical signals
Parar said a sustained move above ₹240–₹245 could open a path toward ₹270–₹280 and later ₹320–₹330. Jain said a sustained breakout could lead toward ₹300.
Near-term risks and caution
Jain placed immediate resistance at ₹240–₹260; both analysts identified the area around ₹200–₹205 as important support, with Jain citing ₹170–₹180 as a lower base if support fails.
Key facts
- Intraday high
- ₹229.55, up 13.7%
- Shares traded
- 27,320,170 by 12:09:48 IST
- Volume versus averages
- 30.86 times the previous week's average and 21.68 times the previous two weeks' average
- Technical support
- Around ₹200–₹205, according to the analysts cited
- Near-term resistance
- Analyst estimates range from ₹240–₹245 to ₹240–₹260
- Taku's September purchases
- 107,000 shares for about ₹2.12 crore
- Q1FY27 net profit
- ₹7.6 crore, up 76.7% quarter on quarter
- Q1FY27 revenue and EBITDA
- Revenue was ₹281 crore, down 2.5% quarter on quarter; reported EBITDA was ₹15.7 crore, down 9.8%
Quotes
Bipin Preet Singh
Co-founder, managing director and CEO of MobiKwik.
“Our Q1 FY27 performance reinforces that profitability is embedded in our business model, with three consecutive profitable quarters alongside continued investments in growth. In Payments, we have delivered a record GMV streak of 14 straight quarters, achieving 50% YoY growth with improved unit economics.”
livemint.com
“On the upside, ₹240– ₹245 emerges as the immediate resistance zone. A sustained move above this region could open the way towards ₹270– ₹280, followed by the broader resistance zone around ₹320– ₹330. On the downside, the ₹205 zone should now act as an important support area.”
livemint.com
Sources
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