Shares of the digital payments and e-commerce technology platform provider Infibeam Avenues were locked in a five per cent upper circuit for second day in a row at Rs 82.55 after the company entered into a definitive agreement with Jio Platforms. Infibeam Avenues shares witnessed huge demand on the National Stock Exchange as there were outstanding buy bids of 40,12,526 shares and no seller was seen on the NSE website.
“Infibeam Avenues has entered into a definitive agreement with Jio Platforms Limited and its affiliates (“JPL”), to license, customise, maintain and access our Enterprise E-commerce Software and Payments Platform for their business use,” the Gandhinagar-based company said in a stock exchange filing.
Infibeam Avenues shares have more than tripled since the lockdown was announced in March from a 52-week low of Rs 26.40.
Infibeam Avenues Limited (IAL) is a leading digital payments and e-commerce technology platforms company and provides a comprehensive suite of web services spanning digital payment solutions, data centre infrastructure and software platforms.
As of 12:16 pm, Infibeam Avenues shares were locked in 5 per cent upper circuit at Rs 82.55 on the BSE, sharply outperforming the Sensex which was up nearly 1 per cent.