This AI-powered fintech company secures RBI authorization for payment aggregator license
Shares experienced a significant increase in buying interest, climbing more than 9 per cent amidst a generally weak market
Infibeam Avenues Ltd is a prominent global financial technology (fintech) company that provides extensive digital payment solutions and enterprise software platforms to businesses and governments spanning various industry verticals.
Shares of Infibeam Avenues Ltd experienced a significant increase in buying interest, climbing more than 9 per cent amidst a generally weak market, reaching an intraday high of Rs 38.45 per share on the BSE. This notable surge followed an impressive development that captured investors' attention.
India's listed AI-powered fintech company has announced that it has obtained final authorization from the Reserve Bank of India (RBI) to function as a Payment Aggregator under the Payment Settlements Act, 2007 for its payment gateway brand - CCAvenue. This achievement marks a significant milestone in the company's journey and is poised to bring long-term benefits.
Shares of the company have provided investors with multibagger returns, exceeding 150 per cent in the last 6 months alone!
The core Payment Gateway (PG) business offers merchants access to over 200 payment options, enabling them to accept payments through websites and mobile devices in 27 international currencies. Infibeam Avenues' enterprise software platform hosts India's largest online marketplace for government procurement. In FY23, the company processed transactions worth Rs 4.5 trillion.
Presently, the company serves over 10 million clients across digital payments and enterprise software platforms. The company's international operations are based in various countries including the United Arab Emirates, Kingdom of Saudi Arabia, Australia, and the United States of America. Additionally, it maintains a business presence in Oman, collaborating with three of the largest banks in the country.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Related articles
-
Don’t miss action in this penny stock as net profit jumps 46 per cent; company witnesses record merchant additions in Q3!
-
Despite all odds, these IT sector multibaggers have skyrocketed up to 888 per cent so far this year!
-
How do higher interest rates contribute to the fight against inflation?
-
Stellar growth: RBI's balance sheet is now 2.5 times the size of Pakistan's GDP
-
In conversation with Vishwas Patel, Joint Managing Director at Infibeam Avenues Ltd
-
Which State Has the Highest Debt? - 99 per cent Get It Wrong!
-
RBI imposes monetary penalties on two Indian banks and a NBFC for non-compliance!
-
Stock below Rs 20: This small-cap Fintech stock reports robust Q1FY24 results!
-
This multibagger smallcap NBFC stock has left Bajaj Finance in the dust by gaining over 300 per cent
-
Stock below Rs 20: This fintech company surged over 9.8 per cent, find out why
-
Shares below Rs 100: Only buyers were seen in these stocks on December 07!
-
Watch out for these penny stocks locked in the upper circuit on December 07
-
Better days ahead for Infibeam Avenues, here's why!
-
The rise and fall of the rupee: Factors which influence the movement
-
Industry welcomes RBIs CBDC project to launch India's digital currency
-
This underdog bank outperformed its competitors, returning over 80 per cent returns year-to-date! Do you own it?
-
Stocks below Rs 100: Only buyers seen in these scrips on October 17
-
Stocks below Rs 100: Only buyers seen in these scrips on October 6
-
With RBI's announcement of digital currency project, here's what Pratik Gauri, Co-Founder and CEO, 5ire has to say
-
This Tata Group stock, having healthy dividend payout, witnessed a powerful breakout; watch out!