Infibeam in beam light
Infibeam Avenues, within minutes of opening has already seen a jump of almost 7 times in volumes – as against a 2-week average of less than 5 lakh, today morning, in half hour since opening, volumes jumped up 33 times. The stock price rose 16.5% to Rs.16.85, the highest point since April’22. Its 52-week high is at Rs.24.08.
The reason for cheer – the company, which is India’s first listed platform and payments infrastructure company, under the flagship brand CCAvenue, received “in-principle” approval from RBI to operate as a Payment Aggregator.
Given its wide network across industry verticals and quantum of transaction processing volume (TPV), Infibeam's CCAvenue is well placed to leverage the new role as a payment aggregator and help bring a greater number of micro-entrepreneurs under the fold of e-commerce.