One Mobikwik Share Price Recovers After Declining Over 6% After Multiple Block Deals

Shares of One Mobikwik Systems Ltd. recovered after declining over 6% on Thursday, after multiple block deals. Over 68.5 lakh equity shares changed hands at a price of between Rs 231 to Rs 261, in a block deal worth Rs 168 crore on Thursday.

Earlier on June 12, the fintech firm announced the grant of 3,27,688 stock options to eligible employees of the company. Each stock option is convertible into one fully paid-up equity share of face value Rs 2. The options are priced at the face value, the company said in a regulatory filing.

Shares of One Mobikwik Systems declined as much as 6.43% to Rs 229.75 apiece, before erasing loses to trade 5.31% higher at Rs 258.60 apiece, as of 10:30 a.m. This compares to a 0.50% advance in the NSE Nifty 50.

The stock has risen 25,820% in the last 12 months and fallen 55.81% year-to-date. Total traded volume so far in the day stood at 0.69 times its 30-day average. The relative strength index was at 42.61.

The one analyst tracking the company maintained a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 93%.