The buying on the counter came after Urban Company announced that its quick-service housekeeping vertical, InstaHelp, has surpassed 1 million monthly delivered bookings in March.
Following the development, Urban Company's share price fell 1.06 per cent to an intraday low of ₹112.99 per share on the National Stock Exchange (NSE)
The brokerage believes Urban company is well positioned to benefit from the gradual shift of India's fragmented home services market towards organised, tech-led platforms
At 10:14 AM, Urban Company's share price was trading 12.56 per cent higher at ₹123.65. In comparison, Sensex was up 0.31 per cent at 76,305.17
Urban company shares are in focus after about 35 million shares, or a 2.5 per cent stake, changed hands on NSE, according to Bloomberg
Jm Financial said that if InstaHelp economics become viable, this could turn out to be the 'Blinkit' opportunity for Urban Company, noted JM Financial
Urban Company and declined on Monday, likely due to selling by institutional investors following the expiry of the lock-in period
Urban Company reported a 37 per cent year-on-year growth in revenue from operations, while its losses widened to ₹59.3 crore
Q2FY26 company results: Firms including Urban Company, Azad Engineering, Transcorp Internationals, Triveni Glass, Orient Cement, and Netweb Technologies are also to release their July-Sep earnings