Mobikwik share price skyrockets 16% after RBI approval for NBFC application

One MobiKwik Systems share price rallied over 16% on Monday, 27 April, after it announced the Reserve Bank of India’s (RBI) approval to launch a non-banking finance company (NBFC).

The stock opened at ₹205.15 apiece today, as compared to the previous close of ₹202.22 on Friday last week, and hit the day’s high of ₹241.90 on the BSE. The sharp spike likely reflects investor optimism about potential new revenue streams and growth opportunities.