CAMS Gets RBI Nod For Online Payment Platform, Shares Gain
In March, CAMSPay achieved a record-setting registration of more than a 12 lakh mandates for UPI Autopay, underlining the company’s growing influence in online digital payments segment.
Shares of Computer Age Management Services Ltd. gained nearly 6% on Friday after it got approval from the Reserve Bank of India to operate as an online payment aggregator. The company had in March 2020 applied to the central bank for the issue of certificate of authorisation after the business became a regulated consequent to the issue of “Guidelines on Regulation of Payment Aggregators and Payment Gateways” (“Guidelines “), according to the exchange filing.
In March, CAMSPay achieved a record-setting registration of more than 12 lakh mandates for UPI Autopay, underlining the company’s growing influence in online digital payments segment, the filing said.
Shares of the company rose as much as 5.67% to Rs 3,223 apiece, the highest level since April 2. It pared gains to trade 4.2% higher at Rs 3,179 apiece as of 10:06 a.m. This compares to a 0.47% decline in the NSE Nifty 50.
The stock has risen 19.99% on a year-to-date basis and 54.22% in the last 12 months. Total traded volume so far in the day stood at 1.9 times its 30-day average on the NSE. The relative strength index was at 58.26.
Out of the 15 analysts tracking the company, nine maintain a 'buy' rating, two recommend a 'hold', and four suggest a 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 0.4%.
