Mobikwik shares slide 6% after 50% surge in Sept; start of a breakdown?

One Mobikwik share price today: According to tech charts, the stock has broken out of its months-long consolidation phase and is testing the higher end of the Bollinger Band on the daily chart

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One Mobikwik System share price

One Mobikwik shares came under selling pressure on Tuesday as investors booked profit in the fintech stock after a massive rally, so far, in September.

 

The stock of the mobile wallet and financial services company slipped 5.4 per cent to hit an intraday low of ₹307.4 per share on the BSE. At noon, the stock was hovering near the day’s low level even as the benchmark BSE Sensex index was trading 0.26 per cent higher. 

Around 1.17 million shares had changed hands on the counter on the BSE till the time of writing this report, as against a two-week average volume of 2.7 million.

 

Combined with the volume on the National Stock Exchange (NSE), 10.31 million shares have changed hands on the Mobikwik counter in trade.  READ STOCK MARKET LIVE UPDATES TODAY

Mobikwik shares news

Investors offloaded One Mobikwik shares today after both stock exchanges placed the stock under the first stage of additional surveillance measures (ASM) for the short term. This means One Mobikwik Systems shares have been categorized under ‘ASM ST: Stage 1’. 

A stock, with a market capitalisation of ₹500 crore or more (Mobikwik has m-cap of ₹2,415 crore), is placed under ASM ST: Stage 1 if its ‘High-Low Variation’ on a one-month basis is greater than 75 per cent, with average unique PANs trading in the scrip in last one month being less than 200.

 

Separately, the exchanges put a stock under short-term ASM if it is witnessing close-to-close price variation of ≥ (± 25 per cent + Beta (β) of the stock x Nifty 50 variation) in five trading days, along with the concentration of top 25 clients being ≥ 30 per cent of combined trading volume of NSE & BSE in the stock in five trading days.

 

On a longer time frame, the condition changes to the stock witnessing close-to-close price variation ≥ (± 40 per cent + Beta (β) of the stock x Nifty 50 variation) in 15 trading days, and concentration of top 25 clients account ≥ 30 per cent of combined trading volume of NSE & BSE in the stock in 15 trading days.

 

Notably, One Mobikwik counter has seen a volume of 10 million per day since September 1, 2025, the day when Abu Dhabi Investment Authority (ADIA) divested its entire stake in the company through block deals.

 

According to the stock exchanges’ data, ADIA sold 164.4 million equity shares, or 2.1 per cent of outstanding shares, valued at ₹39.21 crore, at an average share price of ₹238.45 per share on September 1.

 

Since then, several institutional investors have been buying and selling Mobikwik shares. These include, QE Securities LLP, Musigma Securities, Mathisys Advisors LLP, Junomoneta Finsol Pvt Ltd, Hriti Pvt Ltd, BofA Securities Europe SA, Wealth First Portfolio Managers, NK Securities Research Pvt Ltd, Graviton Research Capital LLP, Elixir Wealth Management Pvt Ltd, and Alphagrep Securities Pvt Ltd.

 

On the bourses, One Mobikwik share price has rallied 48 per cent thus far in the month of September 2025. By comparison, the BSE Sensex index has risen 1.2 per cent.

 

While the stock is above its IPO issue price of ₹279, it is well below its all-time high level of ₹698.30, which it touched on December 26, 2025.

 

One Mobikwik hit a 52-week low, also its record low, of ₹218.85 on August 29, 2025.

 

One Mobikwik share price trend: More upside left?

According to tech charts, the stock has broken out of its months-long consolidation phase and is testing the higher end of the Bollinger Band on the daily chart, placed at ₹314.2 per share.

 

If it manages to hold above this level, the next upside resistance is ₹340-350 zones, the stock’s recent high touched in March this year.

 

A surge above this level could then take the stock to ₹390 levels.

 

In case of a price correction, a 38.2 per cent retracement of the the recent 50-per cent rally indicates likely support for the stock around ₹290 levels; below which the 50-per cent and 61.8-per cent retracement levels suggest that support can be anticipated around ₹277 and ₹264 levels, as per Fibonacci charts.

 

That said, the stock’s momentum indicators show a slowdown in the uptrend as the 14-day RSI has entered the ‘overbought’ zone. Besides, the slow stochastic line is converging with the long-term average, suggesting sluggish stock move ahead.

 

One Mobikwik share price target: Dolat Capital view

Analysts at Dolat Capital maintained their ‘Buy’ rating on One Mobikwik shares, with a share price target of ₹400, after the fintech company’s Q1FY26 results.

 

Mobikwik reported revenue of ₹271.4 crore in the June quarter, up 1.3 per cent quarter-on-quarter (Q-o-Q) due to soft Payment services revenue performance (up 0.7 per cent Q-o-Q) as GMV growth (up 16 per cent Q-o-Q / 53 per cent Y-o-Y) was offset by lower take rate. Notably, payment services vertical contributes 79 per cent of consolidated revenue.

 

Wallet market share improved to 20 per cent from 16 per cent Q-o-Q, while registered users reached 180 million and merchants 4.6 million.

 

Despite a lower take rate of 0.56 per cent (vs 0.64 per cent Q-o-Q), gross margin hit a record 26.7 per cent (vs 23.9 per cent in Q4FY25), driven by lower user incentives and optimised gateway costs (increased UPI mix share by 500bps), with margins expected to stabilize in the 23–25 per cent range.

 

“Noting Q1 miss and slower than expected deployment of IPO proceeds to drive growth, we lower our revenue estimates by 9 per cent and 7 per cent for FY26 and FY27, respectively. We expect FY26 earnings loss to widen by 15 per cent while FY27E PAT and EPS earnings estimate has been lowered by 18 per cent each,” they said.