Shares of Computer Age Management Services Limited (CAMS) gained nearly 4 percent at the open on April 12 after the company got the nod to operate as an online payment aggregator.

At 9:30 am, the stock was trading at Rs 3,168.25.

CAMS informed the stock exchange on April 11 that the Reserve Bank of India (RBI) has authorised the company to operate as an online payment aggregator. The central bank had in February 2023 given the company an "in-principle authorisation" to operate as an online payments aggregator.

In March, CAMSPay, the company's payments business unit that serves clients which include mutual funds, insurance companies, banks and NBFCs, registered over 1.2 million mandates for UPI Autopay.

The stock has gained over 46 percent in the past year and over 137 percent in the past five years. In the December quarter, the company reported an EBITDA increase of 18 percent to Rs 129 crore against 109 crore in the previous fiscal. Revenue rose 19 percent YoY to Rs 290 crore.