When the RBI permits the company to function as an online payments aggregator, CAMS gains 4%.

Photo-Moneycontrol

Computer Age Management Services Limited (CAMS) witnessed a nearly 4 percent surge in its shares as trading commenced on April 12, following the company's receipt of approval from the Reserve Bank of India (RBI) to function as an online payment aggregator. As of 9:30 am, the stock was trading at Rs 3,168.25. The announcement from CAMS, made to the stock exchange on April 11, confirmed the RBI's authorization for the company to operate in this capacity.

This approval marks a significant milestone for CAMS, as it had received an "in-principle authorisation" from the central bank in February 2023 for the same purpose. CAMSPay, the payments division of CAMS catering to a clientele including mutual funds, insurance firms, banks, and NBFCs, recorded a noteworthy achievement in March by registering over 1.2 million mandates for UPI Autopay. The stock's performance has been impressive, with gains exceeding 46 percent over the past year and 137 percent over the past five years.

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Notably, in the December quarter, CAMS reported an 18 percent increase in EBITDA, reaching Rs 129 crore compared to Rs 109 crore in the previous fiscal year. Revenue also witnessed a substantial uptick, rising by 19 percent year-on-year to Rs 290 crore. As CAMS continues to solidify its position in the financial services industry, this latest development underscores its commitment to innovation and growth in the digital payments landscape.

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