Fintech Stocks Rally On Report Of 40 Basis Point MDR On UPI, Paytm Touches 52-Week High

Fintech company stocks — Paytm, Pine Labs, Mobikwik and AvenuesAI — rallied today amid reports suggesting that the merchant discount rate (MDR) fees on UPI transactions could soon be notified. Pine Labs’ stock surged the most, jumping 16.9% to close the day at ₹202.35 on the BSE. Mobikwik climbed just over 8% to close at ₹209.80, while AvenuesAI jumped 6.1% to ₹16.31.