New Delhi, April 27 -- 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 Rs.205.15 apiece today, as compared to the previous close of Rs.202.22 on Friday last week, and hit the day's high of Rs.241.90 on the BSE. The sharp spike likely reflects investor optimism about potential new revenue streams and growth opportunities.

In an exchange filing this afternoon, Mobikwik said that the NBFC licence will facilitate the launch of a new lending arm, MobiKwik Financial Services Private Limited (MFSPL), a wholly owned subsidiary.

This move will strengthen the company's regulated lending capabili...