India Digital Public Infrastructure — Aadhaar UPI ONDC Stack
India's Digital Public Infrastructure (DPI) — Aadhaar, UPI, DigiLocker, ONDC, OCEN — is the world's most advanced government-built digital layer. It has democratised financial access, e-commerce, credit, and government services for 1.4 billion people. Private companies building on this stack are investment opportunities.
Stocks in this theme · India DPI & fintech rails
12 companies in this theme — showing top 12 by market cap.
| Symbol | Company | Price | Mkt Cap | ROE | P/E |
|---|---|---|---|---|---|
| JIOFIN | JIOFIN | ₹207.24 | ₹1,30,388 Cr | 1.1% | 81.12 |
| PAYTM | PAYTM | ₹1,601.6 | ₹1,05,239 Cr | -10.6% | -75.21 |
| MCX | Multi Commodity Exchange of India Ltd | ₹3,186.8 | ₹79,123 Cr | 43.4% | 66.00 |
| MOTILALOFS | Motilal Oswal Financial Services | ₹945.35 | ₹56,785 Cr | — | — |
| SBICARD | SBICARD | ₹528.05 | ₹51,191 Cr | 19.9% | 21.22 |
| BSE | BSE | ₹3,441.1 | ₹45,464 Cr | 23.6% | 59.28 |
| 360ONE | 360 One Wam | ₹1,093.9 | ₹44,475 Cr | — | — |
| POONAWALLA | Poonawalla Fincorp | ₹472.35 | ₹41,425 Cr | — | — |
| ANGELONE | Angel One | ₹312.4 | ₹28,538 Cr | — | — |
| CDSL | Central Depository Services (India) | ₹1,339.7 | ₹28,000 Cr | — | — |
| KFINTECH | KFin Technologies | ₹880.4 | ₹15,219 Cr | — | — |
| CAMS | Computer Age Management Services | ₹772 | ₹3,824 Cr | — | — |
Research Coverage
- ONDC vs Amazon India vs Flipkart: market share war
- OCEN credit line: NBFC and fintech beneficiaries
- Account Aggregator framework: who wins in data lending?
- DPI-enabling stocks: Persistent Systems, KPIT, TCS FTX
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Frequently Asked Questions
What is ONDC?
Open Network for Digital Commerce — a government-backed protocol allowing any seller or buyer app to transact across a single network, similar to what UPI did for payments.
How does India's DPI benefit investors?
Companies building digital lending, insurance, e-commerce, and services on top of DPI infrastructure (Aadhaar, UPI, OCEN) have a massive distribution advantage at near-zero acquisition cost.