Dreamfolks Services Ltd. saw its share price fall over 4% on Wednesday following the announcement of the closure of certain programs for Axis Bank and ICICI Bank, effective July 1, 2025. The company acknowledged that this move could have a material impact on its operations.
In an exchange filing on Wednesday, Dreamfolks informed that while the contracts with Axis Bank and ICICI Bank remain valid, the closure of specific programs is part of regular business operations. "Activation of new programs and deactivation of existing programs is part of our regular business operations. The company is committed to taking requisite actions to mitigate the impact," Dreamfolks stated.
The company is currently evaluating the exact potential impact of these closures.
Dreamfolks Share Price Today
The scrip fell as much as 4.79% to Rs 225.22 apiece. It pared losses to trade 3.64% lower at Rs 227.94 apiece, as of 09:43 a.m. This compares to a flat NSE Nifty 50.
It has fallen 52% in the last 12 months. Total traded volume so far in the day stood at 4.7 times its 30-day average. The relative strength index was at 35.
The two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 53%.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
