Urban Company shares slip amid lock-in expiry; what analysts say Shares of Urban Company Ltd fell on Tuesday following the expiry of a six-month shareholder lock-in period. The stock dropped 5.34 per cent, reaching a day’s low of Rs 107.30, and was trading 2.87 per cent lower at Rs 110.10. Over the past six months, the stock has declined by 34.09 per cent. Approximately 94.1 crore shares became available for trading as the lock-in period ended. According to Nuvama Alternative & Quantitative Research, these shares represent nearly 66 per cent of the company’s outstanding equity. However, it is important to note that the conclusion of the lock-in period does not guarantee all shares will be sold in the open market; they simply become eligible for trading. The promoter’s stake in Urban Company stood at 20.29 per cent as of the December quarter, slightly lower than the 20.43 per cent recorded in the previous quarter. From a technical standpoint, support for the stock is currently seen around Rs 106, while the Rs 115–130 range is expected to act as resistance. Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, observed, “Urban Company has been in a secular downtrend, hovering below all its significant EMAs on daily charts. The structure remains bleak until the cycle of ‘lower lows – lower highs’ is negated. On the levels front, Rs 125–130 is supposed to act as a crucial hurdle, and any decisive breakthrough could only instate buying emergence in the coming future.” Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, added, “Support is seen at Rs 106, while resistance is placed at Rs 115. A decisive move above Rs 115 could push the stock towards Rs 120, with the expected short-term trading range pegged between Rs 106 and Rs 120.#urban_company #nuvama_alternative #angel_one #anand_rathi #osho_krishan
