Firstcry shares up 20% as Qwik expands, 47% below IPO
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- Firstcry shares rose 20% after two successive sessions of decline, though the reason for the surge was not known at the time of filing.
- Firstcry announced the expansion of its ‘Qwik’ delivery service across select pincodes in Bengaluru, Pune, and Hyderabad.
- Firstcry shares are down 47% from the IPO price of Rs 465 per share and hit a 52‑week low of Rs 207.05 a month ago.
- Firstcry debuted on the market on 13 August 2024 at Rs 651, a 40% listing premium, and reached a lifetime high of Rs 720 on 16 October 2024.
- Firstcry's price rose above its 50‑day simple moving average of Rs 247.4 but remains below its 200‑day SMA of Rs 326.1.
- Firstcry widened its net loss to Rs 28 crore in the December‑ended quarter versus Rs 8 crore a year earlier, while revenue grew to Rs 2,480 crore from Rs 2,217 crore.
Why it matters: Investors who bought on the bounce enjoy a 20% gain, but the stock still trades 47% below its IPO and under its 200‑day moving average, underscoring that the rally does not offset widening net losses of Rs 28 crore and modest revenue growth.
