CAMS got an in-principle authorisation from RBI back in February 2023, the company said, adding that the certificate of authorisation bearing No 183/2024 was received on April 10, 2024 by the company.
Computer Age Management Services (CAMS), a part of the financial services industry, gave a breakout and hit a fresh 52-week high. Traders can buy on dips with a target above 3,600 levels, as the stock is trading well above moving averages and showing bullish indicators.
CAMS is India s largest Mutual Fund Transfer Agency that provides MF Services & Statements. Service partner to AIFs, Insurance Companies, Banks & NBFCs, according to the company website.
The stock rose from Rs 2,378 on November 9, 2023, to Rs 2,895 on February 9, 2024, which translates into an upside of over 20% in the last 3 months. It has broken out from a 1.5-year-long consolidation placed above 2,600 on the weekly charts in November 2023 and is holding above the same.