One MobiKwik Systems shares jumped nearly 10% on Wednesday, October 7, extending their winning streak to three consecutive sessions. The stock surged 10% to ₹265.90 on the BSE after rallying 20% in the previous session. Overall, the stock has gained 35.5% in the last three sessions.
The sharp rally has added to MobiKwik’s recent gains, with the stock rising 29% over the past week, 31% in one month, 27% in three months and 51% in six months. However, the stock remains down 10% over the past year.
Despite the recent surge, MobiKwik shares are still more than 10% below their 52-week high of ₹296.75, recorded in October last year. The stock had touched a 52-week low of ₹151.95 in March 2026.
Should you buy MobiKwik shares?
MobiKwik shares have attracted fresh buying interest after a sharp technical breakout, with the stock moving above key resistance and major moving averages. Analysts said the setup remains positive, but investors should track important support and resistance levels before taking fresh positions.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi Share and Stock Brokers Limited, said MobiKwik had decisively broken above its key resistance near ₹240 and was trading around ₹254. He noted that daily and weekly Relative Strength Index (RSI) levels above 60 indicated positive momentum. Patel said the breakout could remain constructive as long as ₹240 held on a sustained basis.
“Any dips towards the breakout area can be monitored for stability and buying interest. If the stock sustains above ₹240 and the positive momentum continues, the counter can potentially move towards the ₹275–280 zone in the coming sessions.”
Mayank Jain, Market Analyst at Share.Market by PhonePe, said MobiKwik had rallied 13.34%, or ₹26.91, to around ₹228.70 on the daily chart, accompanied by a sharp rise in trading volume to 33.14 million shares.
The move pushed the stock above its 20-day, 50-day and 200-day Simple Moving Averages, placed at ₹202.07, ₹200.40 and ₹203.80, respectively. Jain said the stock had formed a base after falling from nearly ₹700 to around ₹150, with declining selling volumes during the consolidation phase.
“Immediate overhead resistance sits near the previous structural peak zone between ₹240 and ₹260, where overhead supply previously capped upward attempts. A sustained close above this barrier opens space toward higher secondary resistance targets near ₹300.”
On the downside, Jain identified ₹200- ₹204 as the primary support zone. If the stock fails to hold this level during a pullback, the next support could emerge around ₹170- ₹180.
MobiKwik co-founder Upasana Taku buys 1.07 lakh shares worth ₹2.12 crore
MobiKwik co-founder Upasana Taku increased her stake in the fintech company by purchasing 1.07 lakh shares worth around ₹2.12 crore through open-market transactions, according to a stock exchange filing. Taku bought 52,000 shares on September 28 for about ₹1.04 crore and another 55,000 shares on September 29 for nearly ₹1.09 crore. Following the purchases, her holding increased to 80.65 lakh shares from 79.58 lakh shares.
Taku said she had also purchased 1.87 lakh shares in December 2025, taking her total purchases since MobiKwik’s December 2024 IPO to 2.94 lakh shares. She added that neither she nor any member of the promoter group had sold shares since the IPO. The latest purchases were made at an average price of around ₹198.5 per share, about 29% below the IPO price of ₹279.
UPI MDR changes, Q1 profit rises
MobiKwik shares have recently faced pressure following the National Payments Corporation of India’s new merchant discount rate (MDR) framework for select UPI transactions. From October 15, an MDR of up to 0.4% will apply to person-to-merchant UPI transactions above ₹2,000, with concessional rates for select categories and exemptions for small merchants.
MobiKwik’s net profit rose 76.7% quarter-on-quarter to ₹7.6 crore in Q1 FY27 from ₹4.3 crore. Revenue declined 2.5% to ₹281 crore from ₹289 crore, while EBITDA fell 9.8% to ₹15.7 crore from ₹17.4 crore.
Co-founder, MD and CEO Bipin Preet Singh said the company had maintained profitability while investing in payments and lending. He also highlighted 14 consecutive quarters of record GMV, 50% year-on-year growth in payments and a 5.6-fold increase in gross profit from lending.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
