Highlights

  • Paytm shares climb for 2nd day; jump 10 %
  • The stock jumped 9.99% to Rs 496.75
  • Stock of One97 Communications rebounded by over 3% on Tuesday

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Paytm shares recovery continues for second consecutive day, stock surges by 10%

This upward movement comes after a 3% rebound in the company's stock on Tuesday

Paytm shares recovery continues for second consecutive day, stock surges by 10%

Shares of One97 Communications, the parent company of Paytm, saw a significant surge of 10% on Wednesday morning, continuing its recovery trend.

This upward movement comes after a 3% rebound in the company's stock on Tuesday, following three consecutive days of a sharp decline where the stock hit its lower circuit limits.

Also read/watch - Paytm crisis: Founder meets FM Sitharaman, Ministry advises to resolve directly with RBI

Between February 1 and 5, the stock had plummeted by over 42%, resulting in a market valuation loss of 20,471 crore rupees, triggered by regulatory actions from the RBI.

Last week, the RBI imposed restrictions on Paytm Payments Bank, barring it from accepting further deposits or conducting credit transactions after February 29.

The directive also prohibits top-ups on customer accounts, prepaid instruments, wallets, and cards for road toll payments.

Paytm Payments Bank Limited (PPBL) is an associate of One97 Communications Limited (OCL).

One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL. Founder Vijay Shekhar Sharma has a 51 per cent stake in the bank.


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