MobiKwik shares rally 20% amid heavy trading volumes, promoter reportedly ups stake

Shares of One MobiKwik Systems Ltd surged 20 per cent on Tuesday, October 6, hitting the upper circuit at Rs 242.10, amid strong buying interest and a broader rally in the equity market. Trading volumes in the stock also rose sharply compared with recent averages.

Following the rally, the company’s market capitalisation crossed Rs 1,900 crore. One MobiKwik Systems is the parent company of digital payments platform MobiKwik. More than 5.86 crore equity shares valued at Rs 1,350.85 crore exchanged hands on NSE, while over 33.81 lakh equity shares worth Rs 78.43 crore were traded on BSE, the data showed.

The stock’s sharp move comes days after the company disclosed that promoter and executive director Upasana Taku had acquired 1.07 lakh equity shares through open-market transactions for around Rs 2.12 crore.

According to the company’s exchange filing, Taku purchased 52,000 equity shares for Rs 1.04 crore on September 28, followed by another 55,000 shares worth Rs 1.09 crore on September 29. Both transactions were executed on the National Stock Exchange (NSE).

Following the purchases, Taku’s stake in One MobiKwik Systems increased to 10.24 per cent. Since the company’s IPO in December 2024, she has acquired a total of 294,177 equity shares in the company.

MobiKwik to enter NBFC business
One MobiKwik Systems had also informed stock exchanges that its proposed non-banking financial company (NBFC) operations will commence only after it meets the applicable conditions and receives a Certificate of Registration (CoR) from the Reserve Bank of India (RBI).

The company plans to offer its NBFC services across India, with a particular focus on Tier-2 and Tier-3 cities. MobiKwik was listed on the stock exchanges in December 2024 following a Rs 572 crore IPO.

MobiKwik turns profitable in Q1FY27
One MobiKwik Systems reported a consolidated net profit of Rs 7.6 crore for the April-June 2026 quarter, compared with a net loss of Rs 419.2 crore in the same quarter a year earlier. Consolidated revenue from operations rose 3.7 per cent year-on-year to Rs 281.48 crore in Q1FY27, compared with Rs 271.36 crore in the corresponding quarter of the previous year.

The return to profitability and promoter buying come as MobiKwik continues to expand its digital payments business while preparing to enter the lending segment through its planned NBFC operations.