Archive · 16 Sep 2026
Indian Stocks Rise as UPI Fee Changes Drive Midday Moves
Indian stocks were mostly higher by the middle of trading on September 16.
The Nifty 50 and Sensex both traded above their earlier levels.
Some banking and payment companies gained after a new UPI merchant fee was announced.
The fee applies to certain business payments above Rs2,000, but customers and person-to-person transfers will not pay it.
Many capital-market companies fell because investors worried about the effect of the charges.
YES Bank gained after the announcement and after reporting stronger quarterly results.
ITC rose after reports that it raised prices for some cigarette brands.
Godavari Biorefineries jumped after China granted it a patent for an invention related to treating viral infections.
These company-specific developments caused some shares to move sharply.
The Nifty 50 was around 23,230 and the BSE Sensex near 74,310 by midday on September 16.
Capital-market stocks declined after the National Payments Corporation of India announced new merchant UPI charges.
YES Bank Limited gained 3.34% amid buying interest following the UPI fee announcement and strong first-quarter results.
ITC Limited rose 2.15% after reports that it increased prices for several cigarette brands.
Godavari Biorefineries Limited surged 14% after receiving a Chinese patent for an antiviral-treatment invention.
- Who
- Indian listed companies, investors, the National Payments Corporation of India, and the Finance Ministry were involved in the developments.
- What
- Indian equities traded higher overall, while individual stocks moved sharply following UPI fee news and company-specific announcements.
- When
- September 16, by midday; the new UPI merchant charge is scheduled to take effect October 15.
- Where
- India’s domestic equity market; the patent was granted by the Chinese Patent Office.
- Why
- Banking and payment stocks benefited from the UPI announcement, while capital-market stocks faced selling; company news also drove moves in YES Bank, ITC, and Godavari Biorefineries.
- Nifty 50
- Hovered around 23,230 by midday on September 16.
- BSE Sensex
- Traded around 74,310 by midday.
- UPI merchant charge
- A 0.4% charge was announced for person-to-merchant payments above Rs2,000, effective October 15.
- Customer impact
- The charge will not apply to customers, person-to-person transactions, or small UPI payments.
- YES Bank quarterly profit
- Consolidated net profit rose 32.54% year-on-year to Rs1,071.80 crore in Q1 FY27.
- ITC cigarette pricing
- Classic Connect prices rose by around 10%, while Gold Flake Super Star also became more expensive.
- Godavari Biorefineries move
- The stock gained 14% after a Chinese patent grant for an antiviral-treatment invention.