Infibeam Avenues Locked In 5% Upper Circuit For Third Day In A Row

Infibeam Avenues shares were locked in a five per cent upper circuit for third day in a row on Wednesday. Rally in Infiibeam Avenues shares came after the company informed stock exchanges that the company entered into definitive agreement with Jio Platforms. "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 shares witnessed huge demand on the National Stock Exchange as there were outstanding buy bids of 10,97,894 shares and no seller was seen on the NSE website.

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 1:00 pm, Infibeam Avenues shares were locked in 5 per cent upper circuit at Rs 86.85 on the BSE, sharply outperforming the Sensex which was up 0.70 per cent.