Zaggle Prepaid shares jump 3% , extend 3-day rally to 16%. What's driving the rally?

Zaggle Prepaid Ocean Services shares extended their rally for the third straight session on Thursday, rising over 3% to Rs 191.95 and taking their three-day gains to 16%. The stock has been in focus after Vijay Kedia-backed Kedia Securities bought 20 lakh shares worth nearly Rs 33 crore through a bulk deal on Tuesday.

According to NSE bulk-deal data, Kedia Securities acquired the shares at an average price of Rs 164.72 apiece, about 0.7% below Zaggle’s Tuesday closing price of Rs 165.88.

Also Read | Vijay Kedia buys Rs 33 crore stake in Zaggle Prepaid Ocean Services via bulk deal, stock skyrockets 17%


Earlier this week on Monday, the stock crashed 20% to hit the lower circuit after a weak earnings print, with net profit dropping more than 32% year-on-year to Rs 17.53 crore for the April-June quarter of FY27, from Rs 26.11 crore in the same period last year.

Zaggle Prepaid Ocean Services’ adjusted EBITDA margin, meanwhile, declined to 8.2% in Q1 FY27 from 10.1% in the same quarter of FY26. The company attributed the decline to expenses related to the Dice acquisition, including transaction costs, one-time vendor payments and relocation expenses for more than 100 professionals. Revenue from Dice contracts was not captured in Q1 FY27 and will start reflecting from Q2 FY27 onwards.

Commenting on the Q1 performance, Raj P Narayanam, Founder and Executive Chairman of Zaggle Prepaid Ocean Services, said, “Q1 FY27 marks an important inflection point for Zaggle as we move from a decade of profitable growth into a phase of transformation through consolidation.”

Also read | Zaggle Prepaid Ocean Services crashes 20%, hits lower circuit after Q1 PAT declines 33% YoY

He added that the company’s focus is now firmly on optimising core operations, scaling AI across its platforms and integrating its recent acquisitions, while calibrating its capitalisation and instilling greater cash flow discipline to position the company for higher-margin growth in the years ahead.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)