MobiKwik shares fell 4.51% to close at ₹244.52 on October 8, marking a significant pullback after the stock's impressive three-day rally. The decline appears to be driven by profit booking following the stock's 35.5% surge over three consecutive sessions, which had taken the shares to a high of ₹265.90 on Wednesday, October 7. The correction brings the stock back to levels closer to its recent trading range, as investors took profits after the strong momentum in the fintech sector.
Bank of India Small Cap Fund acquired a 0.57% stake in One Mobikwik Systems through open market transactions on October 8, purchasing 4.48 lakh equity shares for ₹10.78 crore at ₹240.48 per share. The fund house appears to have utilized the correction in the stock price to pick up the stake in the Gurugram-headquartered mobile wallet company. This institutional interest comes after the stock's recent strong performance, which had seen it rally 20% in the previous session and 29% over the past week. The investment activity suggests institutional confidence despite the recent pullback.
Despite the recent correction, MobiKwik shares had surged 10% to ₹265.90 on Wednesday, October 7, extending their winning streak to three consecutive sessions with a total gain of 35.5% over the past three days. The stock had already rallied 20% in the previous session, demonstrating exceptional momentum in the fintech sector. The sharp move has contributed to MobiKwik's recent strong performance, with the stock rising 29% over the past week, 31% in one month, 27% in three months and 51% in six months. However, it has declined 10% over the past year and remains more than 10% below its 52-week high of ₹296.75, recorded in October last year, and had touched its 52-week low of ₹151.95 in March 2026.
According to Live Mint, MobiKwik co-founder Upasana Taku increased her stake by purchasing 1.07 lakh shares worth around ₹2.12 crore through open-market transactions last month. Taku acquired 52,000 shares on September 28 for about ₹1.04 crore and another 55,000 shares on September 29 for nearly ₹1.09 crore. The transactions increased her holding to 80.65 lakh shares from 79.58 lakh shares. She had also purchased 1.87 lakh shares in December 2025, taking her total purchases since MobiKwik's December 2024 IPO to 2.94 lakh shares, with no promoter group member selling shares since the IPO. The latest purchases were made at an average price of around ₹198.5 per share, about 29% below the IPO price of ₹279.
MobiKwik reported its highest-ever quarterly profit of ₹7.6 crore in Q1FY27, compared with ₹4.3 crore in the preceding quarter. The platform GMV reached an all-time high of ₹58,700 crore, up 50% year-on-year, marking a record GMV streak of 14 straight quarters with 50% YoY growth in payments. The company recorded 26% revenue growth amid improvement in the lending business. Direct costs fell 21% YoY, while payment-related direct costs were down 15% YoY and lending-related direct expenses were down 40% YoY, signalling cost compression at scale. In the shareholders' letter, MobiKwik said it is targeting full-year PAT of ₹40 crore for FY27 and expects quarterly PAT to trend upward through FY27.
