Paytm rise 5% to hit upper circuit

New Delhi: Shares of One97 communications -- owner of the brand Paytm -- jumped 5 per cent in the morning trade on Monday after the crisis-hit fintech company’s decision to collaborate with Axis Bank for the continuation of merchant settlements.

Extending its gains in the second consecutive session, the stock of the company climbed 5 per cent each to Rs 358.55 and Rs 358.35 apiece -- also its upper circuit limit -- on the BSE and NSE, respectively. In the morning trade, the 30-share BSE Sensex benchmark gained 185.81 points or 0.26 per cent to 72,612.45, while NSE Nifty rose 0.32 per cent to 22,110.60 points.