Explained: Why Paytm shares hit 5% upper circuit for 2nd straight session
1 year, 1 month ago

Explained: Why Paytm shares hit 5% upper circuit for 2nd straight session

India Today  

Shares of One 97 Communications Limited, the parent firm of digital payments company Paytm, surged by 5 per cent to hit its upper circuit on Monday. Additionally, investor sentiment was buoyed by clarifications provided by the Reserve Bank of India in its FAQs regarding the continuity of Paytm's QR code, card machine, and soundbox services beyond March 15. As soon as the market opened, Paytm's stock soared to its upper price band of 5 per cent per cent at Rs 358.55 on the Bombay Stock Exchange, propelling the company's market capitalisation to Rs 22,760 crore. Overall, the positive momentum in Paytm's stock price is attributed to the Axis Bank partnership and the RBI's clarification regarding the continuity of Paytm's services.

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