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

Fino Payments Bank shares surged 14% intraday on Friday, putting the stock on track for a 39% weekly gain, its biggest in nearly five years, driven by a strong June business update. Average total deposits rose 11% year-on-year to about 2,755 crore rupees, loan referral disbursals surged 3.5 times to 240 crore rupees, and monthly active users on the FinoPay app climbed 38% to around 8.4 lakh. Despite the sharp rebound from record lows, the stock remains down 34% year-to-date and around 67% below its record high of 582 rupees.