India's Zaggle falls 20% to over a two-year low on profit drop, enters 'oversold'
17/08/2026 06:14
BUZZ-India's Zaggle falls 20% to over a two-year low on profit drop, enters 'oversold' ** Shares of financial technology firm Zaggle Prepaid Ocean Services ZAGG.NS down 20% to 160.48 rupees, lowest since September 22, 2023, when it listed
** Biggest percentage fall in over three months
** Stock on track for eighth straight session of losses
** Co reports a 32.9% fall in quarterly net profit to 175.33 million rupees ($1.83 million) after expenses rose to 4.07 billion rupees vs 3.10 billion rupees in Q1 FY26
** Quarterly revenue grows 27.4% to 4.23 billion rupees
** RSI at 17.15, stock enters "oversold" territory after almost four months, according to LSEG-compiled data
** YTD, shares down 53.86%
($1 = 95.5875 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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