Niyogin Fintech shares jump over 6% as subsidiary wins $10 million contract with Central Bank of India
Shares of Niyogin Fintech surged 6.81% to ₹60.50 on Friday morning after the company announced that its material unlisted subsidiary, Iserveu Technology, secured a significant five-year contract with the Central Bank of India. The deal, valued at USD 10 million, aims to enhance the bank's merchant acquiring operations across India.
Under the agreement, Iserveu will deploy and manage UPI-enabled soundboxes while delivering a comprehensive technology stack. This includes a merchant app, a robust soundbox platform, and a full-scale back-office portal with merchant support. The initiative is expected to strengthen the Central Bank of India's digital payment infrastructure and merchant engagement capabilities.
At 10:27 AM, Niyogin Fintech's stock was trading at ₹60.50, up ₹3.86 from the previous close of ₹56.64, with a market capitalization of ₹6,730 crore. The stock hit an intraday high of ₹60.89 and a low of ₹58.00 in early trade.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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