India's Infibeam Avenues jumps on cenbank's nod to operate as payment aggregator

Avenuesai

28/10/2022 05:20

** Shares of fintech company Infibeam Avenues  IFIB.NS  rise
as much as 16.61% to 16.85 rupees, their biggest intraday pct
gain since Aug. 25
    ** The company said on Thursday it had received an
in-principle approval from the Reserve Bank of India to operate
as a payment aggregator  urn:newsml:reuters.com:*:nFWN31S6WD
    ** IFIB added that the authorisation would allow the company
to operate as a payment aggregator to provide digital payments
services to any merchant(s) online or offline across the country
    ** More than 13 mln shares traded by GMT 0403, 5 times their
30-day avg of 2.7 mln shares 
    ** Stock down 28.11% YTD, as of last close 
 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))