Mobikwik shares surged 20% today hitting the upper circuit

Mobikwik shares surged 20% today, hitting the upper circuit at ₹242.10 amid heavy trading volumes and promoter stake increase by co-founder Upasana Taku. The company also reported a turnaround to profitability in Q1FY27 with ₹7.6 crore net profit, and is preparing to enter the NBFC lending business. 📊 Key Highlights from October 6, 2026 Stock Performance Price Movement: Shares locked at ₹242.10 (20% upper circuit) on both NSE and BSE. Volume Surge: Over 60 million shares traded, with only buy orders visible. Market Cap: Crossed ₹1,900 crore. Recent Gains: Stock up 41% in six months, despite being 19% lower YoY. Promoter Activity Upasana Taku, co-founder and executive director, acquired 1.07 lakh shares worth ~₹2.12 crore in late September. Her stake now stands at 10.24%, signaling confidence in the company’s growth trajectory. Financial Results Q1FY27 Profit: ₹7.6 crore (vs. ₹419.2 crore loss last year). Revenue: ₹281.48 crore, up 3.7% YoY. GMV: ₹58,700 crore, up 50% YoY, marking 14 straight quarters of record growth. Cost Efficiency: Direct costs fell 21% YoY, lending-related expenses down 40%. Outlook: Targeting full-year PAT positive in FY27. Strategic Plans NBFC Entry: Awaiting RBI approval for Certificate of Registration. Focus on Tier-2 and Tier-3 cities, expanding beyond payments into lending. IPO History: Listed in Dec 2024 via ₹572 crore IPO.