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Aditya Birla Money zooms 20% on heavy volumes

Aditya Birla Money is locked in upper circuit of 20% at Rs 39.80, also its 52-week high on the BSE, after Aditya Birla Idea Payments Bank received licence from the Reserve Bank of India (RBI) to set up a payments bank.

The trading volumes on the counter jumped more than six-fold with a combined 609,744 shares exchanging hands. There were pending buy orders for around 700,000 shares on the BSE and NSE today morning. 

"The Reserve Bank of India vide its letter dated 3rd April 2017, has granted licence to  Aditya Birla Idea Payments Bank Ltd (ABIPBL) to carry on the business of payments bank in India," Aditya Birla Nuvo said in a BSE filing.

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