Why zaggle prepaid shares fall: The shares of Jaygall Prepaid, which provided fintech products and services to the corporate involved in the portfolio of veteran investor Ashish Kacholia, broke down on the lower circuit for the second consecutive day today. This selling pressure in its shares is at a time, while the company’s profit in the December quarter increased by more than 29 per cent on an annual basis. With today’s decline, it has lost about 23 percent in four consecutive days. Currently, it is down 10 per cent on BSE at a lower circuit of Rs 381.90, which is about 36 per cent downside from record high. It reached a record high of Rs 597.00 in December 2024 last year.
Why did the pressure of selling in the shares of Zaggle Prepaid?
The Net Profit in the December quarter of Jaigal Prepaid rose 29.6% to Rs 20 crore on an annual basis. However, its profits have declined by 2.47% on a quarterly basis, which put pressure on shares. Apart from this, the company’s expenses have also increased which put pressure on the shares. Its expenditure rose 72 per cent on an annual basis and 12 per cent on a quarterly basis to ₹ 314 crore. Talking about revenue, it jumped 69% to ₹ 336.8 crore on an annual basis. Revenue declined by 11% on a quarterly basis.
In the December quarter, the Jaigal Prepaid Ocean Services changed its business structure. The company bought a 53.32 per cent stake in the Across IT Solutions, making it a subsidiary from the Associate Anti of Jayagal Prepaid. The company is further looking for opportunities for inorganic growth. The company estimates that in FY 2025, its revenue may increase at a speed of 58-63% annually.
How is health on the chart?
The ₹ 164 shares of Jaggel Prepaid were listed in the domestic stock market on 22 September 2023 and on 17 December 2024 it reached a record high of ₹ 597.00, ie IPO investors’ money increased by 264.02 percent. However, IPO investors are now 132.87 percent profitable. Talking on the technical chart, it has come down from the important moving average level due to selling. Its 50-day moving average is ₹ 514.6, 100-days ₹ 476.8 and 200-days at ₹ 399.1. Apart from this, the Relative Strength Index (RSI) is at 38.1. Being below 30 RSI means oversold and above 70 means overbott.
Adani Group Hospitals: Hospital-Medical College, Adani Group will open in two cities with birthday money
Tariff War: Trump imposed 25% tariff on import of metals, but a country can get relief
Disclaimer: Here information provided is being given only for information. It is necessary to mention here that the investment market in the market is subject to risks. Always consult experts before investing money as an investor. There is never advice to anyone to invest money on behalf of Moneycontrol.