Shares of eMudhra Rise 12% for Second Consecutive Day; Focus on LEI Collaboration

eMudhra shares continued their strong rally on Wednesday, September 16, with the stock rising by up to 12% on NSE in continuation of the previous session. 

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The stock opened at ₹625, significantly higher than the closing price of ₹592.85 on Tuesday. The volume of trade was robust throughout the day with about 105.89 lakh stocks being traded intraday on NSE. The market capitalization of the stock was ₹5,378.62 crore. 

This came right after a very strong performance in the previous day, with the stock rising by over 20% on high volumes of trade. 

This happened just a few days after eMudhra announced some business updates related to Legal Entity Identifier India Limited (LEIL). 

eMudhra appointed Validation Agent for LEIL 

In an exchange filing dated September 13, eMudhra disclosed that it had been appointed as a Validation Agent for LEIL under the Global Legal Entity Identifier System. 

The appointment was announced by the Global Legal Entity Identifier Foundation (GLEIF). 

Under the arrangement, eMudhra will be able to bring Legal Entity Identifier application and renewal services into its existing identity-verification and onboarding processes. 

The integration is intended to give organisations a more consolidated route for obtaining and maintaining their Legal Entity Identifiers instead of completing separate verification checks across different platforms. 

LEIL to continue handling issuance and maintenance 

LEIL is a GLEIF-accredited LEI issuer and a wholly owned subsidiary of the Clearing Corporation of India Limited. 

It is currently the only LEI issuer recognised by the Reserve Bank of India under the Payment and Settlement Systems Act. 

While eMudhra will integrate the application and renewal process into its existing systems, LEIL will continue to handle the issuance and maintenance of LEI records in accordance with Global LEI System standards. 

The arrangement brings globally standardised organisational identity into eMudhra’s existing digital trust infrastructure, covering areas such as financial markets, payment systems and cross-border digital transactions. 

The business update has arrived alongside a sharp increase in activity in eMudhra shares, with the stock recording strong gains for a second consecutive trading session on September 16.