Overview
- After sliding about 17% over two sessions, the stock rose roughly 6–8% in early trade on Nov. 21 as investors digested the company’s first post‑listing quarter.
- Q2 FY26 consolidated net profit increased 12.1% year on year to Rs 471.3 crore, while revenue fell 9.5% to Rs 1,018.7 crore and EBITDA margin improved to about 59.3%, according to filings.
- User metrics showed resilience with total transacting users up 27% year on year to about 1.9 crore and an October uptick in active users that management described as an inflection point.
- The earlier surge and sharp pullback were magnified by a roughly 7% free float that contributed to a short‑delivery episode with over 30 lakh shares sent to auction and reported penalties.
- Analysts are watching a potential supply increase when about 149.2 million shares—roughly 2% of equity—become tradable after the one‑month lock‑in ends on Dec. 10.