Shares of One Mobikwik Systems Limited have been on an upward trajectory since their listing on 18 December 2024, marking a strong debut with a substantial premium of nearly 58%. In the seven sessions following its listing, Mobikwik has become an ideal “buy-on-dip” stock, delivering impressive returns to early investors. As of last Friday, Mobikwik’s share price closed at ₹622.95 on the NSE, delivering over 120% returns to investors who held on despite its strong debut on Dalal Street.
Experts believe Mobikwik’s robust fundamentals in terms of improving EBITDA, PAT, and revenue are key drivers behind its continued success. According to analysts, Mobikwik’s share price has established solid support at ₹590 and, if this level holds, a near-term target of ₹700 is expected.
Mobikwik Share Price Outlook
Abhishek Pandya, a Research Analyst at StoxBox, highlighted the key reasons behind Mobikwik’s price rally. “Mobikwik ranks third in registered wallet users, with 135.41 million reported for FY24. The company’s PAT stood at ₹140.79 million, and its EBITDA margin improved significantly from -21.24% in FY22 to 4.18% in FY24, marking a profitable shift for the company,” Pandya said.
He added that despite a competitive landscape, Mobikwik has carved a niche with its wallet services and small-ticket consumer lending ranging from ₹1,000 to ₹200,000, supported by stringent filtration checks. “Given the favorable trends in India’s digital payments and financial services sector, along with improving operational performance, we expect Mobikwik to continue delivering strong results in the coming quarters. We maintain a bullish outlook on Mobikwik’s stock in the medium to long term,” Pandya stated.
Mobikwik Share Price Target
Anshul Jain, Head of Research at Lakshmishree Investment and Services, also expressed confidence in Mobikwik’s price trajectory. “The newly listed stock has made a strong base at ₹590. If this support remains intact, Mobikwik’s share price could soon reach ₹700,” Jain said.
Mahesh M Ojha of Hensex Securities recommended that shareholders maintain their positions, with a stop-loss below ₹590 and a short-term target of ₹700. For fresh investors, Ojha suggested buying with momentum, but also emphasized maintaining a strict stop-loss below ₹590.
Mobikwik’s Listing Journey
Mobikwik’s shares were offered in the Indian primary market at a price band of ₹265 to ₹279 per share. The issue was open for bidding from 11 to 13 December 2024. The shares were listed on the BSE at ₹442.25 and ₹440 on the NSE during a special pre-opening session on 18 December 2024.
