This beaten-down fintech stock jumps 39% this week, on track for biggest weekly gain in nearly 5 years

Shares of Fino Payments Bank resumed their upward momentum in Friday's trade, July 17, climbing 14% to an intraday high of ₹180.75 apiece. The rally has put the stock on course for its biggest weekly gain in nearly four years.

Investor sentiment improved after the company reported a strong June business update, helping the stock rebound sharply from record lows. The latest surge follows a prolonged selloff that had dragged the stock to its all-time low

For the month of June, the company had steady growth in deposits and strong traction in its loan referral business. The bank's average total deposits rose 11% year-on-year to ₹2,755 crore, reflecting sustained growth in its deposit franchise and signalling steady progress in its transition towards a more comprehensive banking model.

During the month, the bank opened around 3.1 lakh new accounts, taking its total customer base to 1.8 crore. Digital engagement also strengthened, with monthly active users on the FinoPay mobile application rising 38% to around 8.4 lakh.

The bank's loan referral business, which serves as a pilot for its proposed Small Finance Bank (SFB), also continued to gain momentum. The bank said loan referral disbursals surged 3.5 times year-on-year to ₹240 crore, highlighting the strong credit potential within its customer ecosystem and supporting its long-term lending strategy.

However, some business metrics remained under pressure. Transaction business throughput, which includes remittance, micro-ATM, and AePS transactions, declined 35% year-on-year to ₹2,830 crore.

The bank attributed the decline to the continued shift in the payments ecosystem from cash to UPI, along with its focus on higher-quality, more active merchants. It added that the pace of decline has moderated compared with previous months.

For the March quarter (Q4 FY26), the bank reported a 70.4% year-on-year decline in net profit to ₹7.1 crore, compared with ₹24 crore in the same quarter of the previous year.

With today's surge, the stock's weekly gains have climbed to 39%, putting it on track for its biggest weekly rally in more than five years, provided the gains hold through Friday's close. From its all-time low of ₹110 apiece, the stock has rebounded 64%.

Despite the sharp recovery, the stock remains down 34% so far this year. It had ended the previous calendar year with a 17% decline and is still trading 67% below its record high of ₹582 apiece.

The stock witnessed a prolonged selloff between December 2025 and March 2026, declining a cumulative 63% over the four-month period. It had also suffered a similar correction between September 2024 and February 2025.

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Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing mu...