Mobikwik shares slide 6% as Net1 Applied Technologies likely sells 9% stake sale via block deal
Shares of One Mobikwik Systems slid 6.2% to their day's low of Rs 230.65 on the BSE on Thursday after 69.76 lakh shares or 8.98% of the company's equity reportedly changed hands via a block deal.
ADVERTISEMENT According to CNBC-TV18 reports, Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa's Net1 UEPS Technologies, is the likely seller in the transaction.
Reports suggest that the deal is valued at approximately Rs 161.20 crore and took place at a price of Rs 231 per share.
However, the official parties to the transaction and other details are not yet known.
Net1 had invested $40 million (approximately Rs 268 crore) in Mobikwik in 2016 as part of a strategic partnership aimed at integrating its virtual card technology with the Indian digital payments platform.
This planned stake sale comes as Mobikwik undertakes a series of strategic moves. In March 2025, the company entered the stockbroking space by launching Mobikwik Securities Broking Private Ltd.
ADVERTISEMENT
Also Read: HDB Financial Services IPO: Should you subscribe? Here's what brokerages say
Mobikwik made a strong debut on the stock exchanges earlier this year, listing at a 58% premium to its IPO price of Rs 279. However, the stock has since declined over 60% from its post-listing high of Rs 698.
ADVERTISEMENT Last month, the company reported its March quarter results — its second earnings report since listing.Mobikwik's net loss widened significantly to Rs 56 crore in Q4, compared to a net loss of just Rs 67 lakh in the same quarter last year. Revenue rose 2.6% year-on-year, while Payments GMV surged 2.3 times compared to the year-ago period. However, EBITDA stood at a negative Rs 45.8 crore due to lower contribution margins.
ADVERTISEMENT Also Read: These 10 multibagger penny stocks surged 200-570% in last 1 year. Do you own any?
According to Trendlyne, the average target price for Mobikwik shares is Rs 500, implying an upside potential of around 104%. One analyst currently has a 'Strong Buy' rating on the stock.From a technical perspective, the Relative Strength Index (RSI) stands at 40.5, indicating the stock is in neutral territory. The Moving Average Convergence Divergence (MACD) is at -4.4, below both the signal and center lines — a sign of bearish momentum.
ADVERTISEMENT
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
31 minutes ago
- Hindustan Times
IIM graduate brags about refusing salary slip to GenZ employee, faces backlash: ‘Isn't a favour, it's basic right'
An IIM Indore graduate is facing flak online after she refused to issue a salary slip to a short-term GenZ employee, sparking a wider debate around basic employee rights and professionalism in the workplace. Critics were quick to call out the post as unprofessional and tone-deaf. (This is an AI generated image) An MBA alumna and entrepreneur, took to LinkedIn to share a screenshot of a WhatsApp message from a former employee who had worked for about 15–17 days and requested a salary slip for academic documentation. 'You know it's 2025 when someone joins, leaves in 20 days, and still asks for a salary slip like they completed financial year closing,' she wrote in the post. 'We still paid, because work deserves reward. But some formalities? You gotta stick around a little longer for those.' (Also Read: 'I stopped using Google Pay': Sania Mirza's sister reveals why she deleted UPI apps) Check out her post here: In the WhatsApp exchange, the former employee politely asked for the slip, citing the need to submit proof of employment to their college. The professional responded by stating that salary slips were only provided to employees who worked a minimum of six months. That comment, and her tone, didn't go down well with LinkedIn users. How did social media users react? Critics were quick to call out the post as unprofessional and tone-deaf. 'A salary slip isn't a favour. It's a basic right, even if someone worked just 5 days,' one user wrote. Another said, 'I can't believe IIM Indore is producing such MBA graduates!' Some were especially irked by the phrasing, 'We still paid, because work deserves reward.' One user shot back, 'You're not doing anyone a favour. You hired someone. They worked. You paid. That's the law.' Another said, 'The audacity of you to to make this post is unmatched to anything that I have seen on LinkedIn.' As the criticism mounted, Singha posted a clarification, 'For all of you who have put your opinion here… I appreciate you putting forth what's right and what's legal. I had a meaningful conversation with Juan Manuel T this morning, and I realised we need stronger HR policies. We're going to put that into action as soon as possible.' (Also Read: Soft toy floats in front of Shubhanshu Shukla as Indian astronaut speaks from space)
Time of India
31 minutes ago
- Time of India
UP CM lays foundation of CEL-ESDS green data centre entailing Rs 1,000 crore investment
Academy Empower your mind, elevate your skills Chief Minister Yogi Adityanath on Thursday laid the foundation of CEL-ESDS Green Data Centre with 30 MW capacity, entailing an investment of about Rs 1,000 was joined by Union Minister of State (Independent Charge), Jitendra Singh , state IT minister Sunil Kumar Sharma, and state Social Welfare Minister Asim Arun in laying foundation stone of the data centre on the premises of Central Electronics Ltd ( CEL )."I congratulate CEL for their glorious journey of 50 years," Adityanath said there was a time when there was uncertainty over the future of CEL but now this mini-Ratna is ready to realise the dream of Viksit Bharat (developed India).Adityanath said CEL is setting up the first-of-its-kind data centre in India which reflects on their official at an event said the setting up of the data centre will entail cumulative investment of about Rs 1,000 crore that will be made by the Centre of Electronics and IPO-bound said dedicated leadership at CEL saved it from going for disinvestment."This institution has a history. Solar cell was made here in 1977 when no one in the country could understand its potential. In 1977 the only news was Janata Party government has come to power and the Indira Gandhi government has been ousted. There no awareness about solar cells at that time," he said there is a need to engage with the private sector to realise the dream of "Viksit Bharat" (developed India)."Today we are seeing the way CEL has partnered with private sector to set up data centre," he data centre is designed to be a tier 3 grade uptime compliant at Sahibabad in Uttar Pradesh and is designed for 200 high-density racks per floor, 30 MW capacity, and 40 Gbps maker HPE defines Tier 3 data centre as units that are designed for an uptime of 99.982%, which translates to roughly 1.6 hours of downtime per 3 data centres can be updated without taking systems offline.
New Indian Express
32 minutes ago
- New Indian Express
Indian banks still prefer funding fossil fuels project amid rising risk to investment: Report
NEW DELHI: Even as India aggressively pushes for a clean energy transition, Indian banks have substantially financed fossil fuel and coal-fired power projects—totalling approximately USD 29 billion between 2016 and 2023—which could hinder and complicate the path to achieving net-zero emissions, states a recent report. Prepared by Climate Risk Horizon, a Bangalore-based non-profit organisation that monitors climate-related risks for investors, the report highlights that the State Bank of India (SBI) and private lenders such as Axis Bank and ICICI Bank were among the top financiers of coal. Titled 'Stuck in the Past: Coal Ties Hinder Indian Banks' Energy Transition' the report indicates that India's leading banks invested around USD 29 billion in coal during the specified period. Of this amount, approximately USD 15.2 billion was provided as coal loans, while USD 13.5 billion was allocated to coal underwriting services Further segregating the data, the analysis shows that public banks provided roughly 75% of the coal loans while private banks financed roughly 83% of the total underwriting. According to the report, over these eight years, the amount of coal loans fluctuated significantly. Still, coal underwriting by Indian banks remained relatively stable with an average of USD 1.7 billion per year. Underwriting service is a process of mitigating risk for financial transactions by financial institutions by guaranteeing repayment in case of damage or financial loss.
