Paytm shares rise 5%
image for illustrative purpose
New Delhi: Shares of One97 Communications, which owns the brand Paytm, on Thursday jumped 5 per cent to hit its upper circuit limit for the second straight session amid reports of Adani and Paytm were in talks to acquire a stake in the fintech company.
However, One97 Communications Ltd on Wednesday said it is not in talks to sell a stake to the Adani Group, while the Gujarat-based conglomerate has also termed such reports as “false and untrue.”
The stock climbed 4.99 per cent each to Rs 377.40 and 377.50 -- its upper circuit limit -- on the NSE and BSE, respectively. Paytm founder Vijay Shekhar Sharma owns 9.1 per cent of Paytm in his personal capacity and another 10.3 per cent through Resilient Asset Management, a foreign entity, as of end-March.
