Paytm shares hit upper circuit for 3rd straight session

New Delhi: Shares of Paytm’s parent firm One97 Communications rallied five per cent and touched upper circuit for the third straight session on Tuesday.

According to reports, the Directorate of Enforcement (ED), which has been probing One97 Communications’ arm Paytm Payments Bank Ltd (PPBL), has not found any breaches of the foreign exchange rules so far. However, the reports said, the central agency has found certain lapses in know-your-customer (KYC) norms as well as issues around generation of suspicious transaction report. Last week, ED had formally initiated a probe into overseas transactions by PPBL for allegedly flouting foreign exchange rules.

The scrip of crisis-hit fintech company surged 5 per cent each to Rs376.45 and Rs376.25 apiece -- its upper circuit limit -- on the BSE and NSE. The 30-share BSE Sensex benchmark gained 37.98 points or 0.05 per cent to 72,746.14, while NSE Nifty rose 3.05 points to 22,110.60.