India's One MobiKwik soars; concerns over supply overhang wane after large deal, analyst says
India's One MobiKwik Systems ONEM.NS soars 15% to two-week high of 282.3 rupees, set for biggest daily pct gains in more than 3 months
Stock soars as concerns over supply overhang wane after large deal, analyst
More than 6.8 million shares, representing 8.8% stake, changed hands in a large deal on NSE at 231.1 rupees, a discount of 6.4% to previous close
There was an overhang that a large supply of shares could come in after the expiry of lock-in period, says Ambareesh Baliga, an independent market analyst
"Now that the event is behind, we are seeing a bounce back" - Baliga
Net1 Applied Technologies Netherlands BV likely seller, per news reports
Lock-in on 38 million shares, representing 49% of ONEM's outstanding shares expired on June 18, as per Nuvama
YTD, ONEM still down ~52%
Related Articles
Silver Plunges 10%, Gold Tests $4,900: Is the Bull Market Over Ahead of CPI?
TradingKey - Ahead of the release of the U.S. January CPI report, financial markets experienced a sudden broad sell-off on Thursday. Alongside a sharp decline in U.S. equities, prices for commodities such as gold (XAUUSD) also plummeted. Gold dropped nearly $200 within a 30-minute window, a decline
Bitcoin Price Prediction 2029-2035: Institutional Accumulation and the U.S. Treasury’s Strategic Reserve Pivot
Explore the 2026 Bitcoin landscape: From the U.S. Strategic Reserve and Michael Saylor’s $75B war chest to Cathie Wood’s 2030 forecast. Is BTC the new Digital Gold?
This $1 Trillion AI Stock Is Getting Ready for 2026: Is Meta a Good Buy?
When ads and commerce are factored in, Meta is building a long-term platform—in Augmented Reality and smart glasses — to get us closer to the future of AI. This device hardware business is less profitable than ads right now, but it could grow the company’s ecosystem and open up new ways for it to ma
Is SaaS Dead? The Truth Behind the Software Meltdown, the Missing Floor, and the Peak That’s Not Coming Back
TradingKey - A trillion dollars just vanished from software stocks—this piece breaks down who AI is really killing, who quietly benefits, and why cheap SaaS may be the biggest value trap of this cycle.
