For the second straight day, Infibeam Avenues hit the 5% UC the moment it opened for trading. The stock had hit the roof yesterday at Rs.78.65 and today at Rs.82.55. It is now very close to its 52-week high at Rs.84.
The euphoria is over its announcement that it has entered into a definitive agreement with Jio Platforms Limited and its affiliates, to license , customise, maintain and access our Enterprise E-commerce Software and Payments Platform for their business use.
Prior to this, the company had also reported winning contract to run the Govt e-marketplace (GeM).
Infibeam Avenues is the parent company of of payment gateway company, CCAvenue.