Shares of Fino Payments Bank (033790.KQ) were locked at the 20% upper circuit limit in Monday's trade, reaching a four-month high of ₹162.48.
The sharp repricing followed the company's release of its June business update, which signaled robust top-line momentum despite some softness in transaction volumes.
The market rally was driven by an 11% year-on-year increase in average total deposits, which rose to ₹2,755 crore for June 2026.
The market rally was driven by an 11% year-on-year increase in average total deposits, which rose to ₹2,755 crore for June 2026.
Investors also responded positively to a sharp acceleration in the bank's loan referral business, a key revenue driver for the digital lender.
The deposit growth underscores the company's ability to scale its balance sheet even as the broader payments sector faces competitive pressures.
Fino Payments Bank's performance highlights a strategic shift among Indian digital lenders toward prioritizing deposit stability and loan origination over pure transaction volume.