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Kedia Securities buys 2 million shares of Zaggle Prepaid after 52-week low
The bulk purchase came on Aug. 18, a day after the stock fell sharply and hit a new 52-week low, and it followed weaker profitability with net profit down 33% year-on-year in Q1FY27.
Kedia Securities, owned by investor Vijay Kedia, bought 2 million shares of fintech company Zaggle Prepaid Ocean Services through a bulk deal on India’s National Stock Exchange on Aug. 18, according to LiveMint Markets.
The deal followed a sharp sell-off in Zaggle Prepaid’s shares. On Aug. 17, the stock closed at ₹160.48, down 20% from the prior close, and it then hit a new 52-week low of ₹154.40 on the BSE on Aug. 18, compared with a 52-week high of ₹417.40. The stock rose more than 7% on the NSE the next day, though LiveMint Markets said the specific reason for the purchase was not known.
LiveMint Markets also pointed to the company’s recent earnings trend as a key context for the timing. Zaggle Prepaid reported roughly 28% year-on-year revenue growth in Q1FY27 to about ₹4,232 million, but margins and profitability weakened as higher employee, technology, and integration costs, including those tied to its DICE acquisition, pressured results.
Zaggle Prepaid’s net profit fell around 33% year-on-year to ₹175 million, and its adjusted EBITDA margin declined from 10.1% in Q1FY26 to 8.2% in Q1FY27, a 190 basis point contraction, raising concerns even as sales grew.