After a decision by RBI, this penny stock saw a tremendous rise on Friday.
Infibeam Avenues stock rose nearly 20 percent on Friday and touched the upper circuit on the BSE exchange.
Infibeam Avenues Limited is the first listed platform and payments infrastructure company in the country.
Infibeam Avenues ltd. has received in-principle approval from RBI to operate as a payment aggregator.
The shares of Infibeam Avenues Limited saw a tremendous increase after the news of getting RBI's in-principle approval.
Infibeam Avenues Ltd Stock Details: Mkt cap: 4.62TCr P/E ratio: 47.85 Div yield: 0.18% 52-wk high: 24.00 52-wk low: 12.50
After the approval of RBI, this company will get an opportunity to expand its business in online/offline digital transactions.
CCAvenue, the flagship brand of Infibeam Avenues, is one of the most experienced and secure digital payment gateways in the country.
Infibeam is a leading digital payments company. Out of this, more than 200 multi-currency options are in India only.
The annual run rate on Infibeam's platform is 4 lakh crores. Now the company can bring more small entrepreneurs into the ambit of e-commerce.