Shares of multibagger Aurionpro Solutions ended over 4% higher on Thursday after the IT firm said its arm Aurionpro Payment Solutions has received final authorization from the Reserve Bank of India to operate as an online payment aggregator via its payments brand AuroPay. Aurionpro Solutions shares closed 4.21% higher at Rs 2651 on Thursday against the previous close of Rs 2543.80 on BSE. Market cap of the firm rose to Rs 7318.55 crore.
“Receiving the final approval from RBI to operate as a full-fledged Online Payment Aggregator is a significant milestone in achieving our long-term goals as a payment service provider. From the outset, our objective has been to facilitate and expand the reach of Online Digital payments in India through our AuroPay platform that helps simplify payment processing – both in terms of receivables and payables including settlement in a secure, safe and compliant environment,” said Aurionpro Solutions in a communication to bourses.
Earlier, Aurionpro Solutions stock opened higher at Rs 2670.95 on BSE today.
Aurionpro Solutions shares have a beta of 0.6, indicating low volatility in a year.
In terms of technicals, the relative strength index (RSI) of the Aurionpro Solutions stock stands at 63.8, signaling it's trading neither in the overbought nor in the oversold zone.
Aurionpro Solutions shares stand higher than the 5 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.
The stock of the IT services firm has risen 789% in two years. Total 9982 shares of the firm changed hands amounting to a turnover of Rs 2.62 crore on BSE.
Balkrishna Pangam, CEO – Aurionpro Payments said “We are grateful to the RBI for this authorization and we look forward to commencing the business at the earliest. With our innovative solutions and expertise, we are excited to contribute to India’s digital transformation journey.”
Aurionpro Solutions is an advanced technology solutions company catering to the needs of the Banking, Mobility, Payments and Government sectors. It converges multiple technology solutions under one umbrella, acting as one platform for Advanced and Accelerated Platform-led Transformation, guiding businesses to ADAPT to a new paradigm in the digital world order.