Paytm’s mcap jumps by Rs 2,280 cr
image for illustrative purpose
New Delhi: Shares of One97 Communications Ltd, the parent firm of Paytm, soared over 8 per cent on Monday, adding Rs2,279.88 crore to its market capitalisation after Vijay Shekhar Sharma said his ambition is to build a $100-billion company.
The stock jumped 8.12 per cent to settle at Rs472.05 on the BSE. During the day, it zoomed 9.87 per cent to Rs479.70. At the NSE, it climbed 8.33 per cent to Rs472.95. The company’s market valuation increased by Rs2,279.88 crore to Rs30,022.04 crore on the BSE.
Paytm founder Vijay Shekhar Sharma on Saturday spoke about his learnings from the RBI action on Paytm Payments Bank, admitting that it was an emotional setback at a personal level, while professionally it was a lesson learnt about fulfilling responsibilities better. Without mincing words, Sharma said, “at a professional level, I would say we should have done better, there are no secrets about it, we had responsibilities, and we should have fulfilled much better”.
Speaking at the 7th JIIF Foundation Day, Sharma was asked about the Reserve Bank of India’s (RBI’s) action on Paytm Payments Bank and how it impacted him as a founder who had painstakingly built his company.
