On Tuesday, February 24, 2026, shares of One MobiKwik Systems Ltd surged by more than 12% during intraday trading. The stock hit a high of ₹227.37 on the NSE and ₹226.60 on the BSE, marking a significant rebound after several days of declines.
The rally was driven by the company’s formal entry into the stock broking industry, providing a new revenue stream and signaling its evolution into a full-scale financial services platform.
The Catalyst: BSE Broking Approval
The primary driver for the surge was the announcement that the Bombay Stock Exchange (BSE) has granted final approval to MobiKwik’s wholly-owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL), to commence operations.
- Operational Launch: BSE enabled the subsidiary on its platform effective February 24, 2026.
- Capabilities: The company is now authorized to facilitate the buying, selling, clearing, and settlement of equity trades.
- Strategic Shift: This move allows MobiKwik to compete directly with established discount brokers like Zerodha, Groww, and Angel One, leveraging its existing base of 186 million users.
Recent Financial Turnaround
The stock momentum is also supported by MobiKwik’s transition into profitability, which was detailed in its recent Q3 FY26 earnings report:
| Metric | Q3 FY25 (Actual) | Q3 FY26 (Current) | Change |
| Revenue | ₹269.4 Crore | ₹289 Crore | +7.4% |
| Net Profit / Loss | (₹55 Crore) Loss | ₹4 Crore Profit | Turnaround |
| EBITDA | (₹47.6 Crore) Loss | ₹6.8 Crore Profit | Turnaround |
| UPI Transactions | – | – | 3.2x Growth (YoY) |
Stock Performance Snapshot
Despite today’s 12% jump, the stock continues to face a challenging long-term trajectory since its listing in late 2024.
- IPO Context: The shares remain roughly 26% below their December 2024 IPO price of ₹279.
- 52-Week Range: The stock hit a yearly high of ₹354.40 in March 2025 and reached its all-time low of ₹190.62 just last month (January 27, 2026).
- Relative Strength: Today’s outperformance is notable as it comes on a day when the broader Nifty IT index crashed by 5%, dragging down many other tech-heavy stocks.
Management Commentary
“The approval by BSE is a pivotal step in MobiKwik’s evolution. India has witnessed incredible growth in retail investor participation, and we believe our platform can help demystify investing for users taking their first steps into the markets.” — Upasana Taku, Co-founder & CFO.
