Shares of Computer Age Management Services Limited (CAMS) gained nearly 4 percent at the open on April 12 after the company got the nod to operate as an online payment aggregator.
At 9:30 am, the stock was trading at Rs 3,168.25.
CAMS informed the stock exchange on April 11 that the Reserve Bank of India (RBI) has authorised the company to operate as an online payment aggregator. The central bank had in February 2023 given the company an "in-principle authorisation" to operate as an online payments aggregator.
Follow our market blog for live updates
In March, CAMSPay, the company's payments business unit that serves clients which include mutual funds, insurance companies, banks and NBFCs, registered over 1.2 million mandates for UPI Autopay.
Also read: CAMS receives RBI nod to operate as online payment aggregator
The stock has gained over 46 percent in the past year and over 137 percent in the past five years. In the December quarter, the company reported an EBITDA increase of 18 percent to Rs 129 crore against 109 crore in the previous fiscal. Revenue rose 19 percent YoY to Rs 290 crore.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
