Shares of fintech major MobiKwik experienced a significant 12% surge on Tuesday after the Bombay Stock Exchange (BSE) granted approval for its subsidiary to commence stockbroking operations. The new entity, MobiKwik Securities Broking Private Limited, is now empowered to facilitate equity trades, clearing, and settlement for users directly through the platform. This strategic expansion allows MobiKwik to evolve from a payments wallet into a full-scale financial services hub, significantly increasing its competitive edge against rivals like Paytm and PhonePe.
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