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Wednesday, 5 April 2017

Aditya Birla Money, one of the major NBFCs engaged in broking and allied activities, hit upper circuit limit of 20% at Rs 39.8. The stock of Aditya Birla Money hit 52 week high at 39.8 on Thursday, April 05, 2017 after Aditya Birla Idea Payments Bank got RBI licence to set up a payments bank.

Aditya Birla Money thereby will be able to start its business of payment banks in India. RBI has conveyed the same via its letter dated April 03, 2017.

Aditya Birla Idea Payments Bank will be set up as a 51:49 joint venture between Aditya Birla Nuvo, a diversified company and Idea Cellular, a telecom giant. 

The stocks of Aditya Birla Nuvo and Idea Cellular surged 1.7% and 3.2% respectively on Thursday.

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