Tripura News Point

Paytm Revives: Stocks Rise Following Three-Day Drop

<p>After a steep decline over the previous three days, One97 Communications Ltd.’s shares—which hold the Paytm brand—rose on Tuesday morning.</p>
<p><img decoding=”async” class=”alignnone wp-image-388516″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytm-revives-stocks-rise-following-three-day-drop-image-1200×900-2023-11-30t05115.jpg” alt=”theindiaprint.com paytm revives stocks rise following three day drop image 1200×900 2023 11 30t05115″ width=”1079″ height=”719″ title=”Paytm Revives: Stocks Rise Following Three-Day Drop 12″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytm-revives-stocks-rise-following-three-day-drop-image-1200×900-2023-11-30t05115.jpg 510w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-paytm-revives-stocks-rise-following-three-day-drop-image-1200×900-2023-11-30t05115-150×100.jpg 150w” sizes=”(max-width: 1079px) 100vw, 1079px” /></p>
<p>Despite the stock having a slow start to the session, it surged 7.79 percent to Rs 472.50 on the BSE.</p>
<p>On the NSE, it increased 7.99% to Rs 473.55.</p>
<p>Following the RBI’s crackdown, the stock fell more than 42% in the last three days, wiping off Rs 20,471.25 crore from its market worth.</p>
<p>On Monday, One97 Communications Ltd.’s shares had reached its lower circuit limit.</p>
<p>The regulator issued an order last week directing Paytm Payments Bank Ltd., a restricted bank that is only allowed to accept deposits and is not allowed to lend money, to stop accepting new deposits, credit transactions, or top-ups on any customer accounts, prepaid devices, wallets, or cards used to pay for tolls on public roads after February 29.</p>
<p>One97 Communications Limited (OCL) is associated with Paytm Payments Bank Limited (PPBL).</p>
<p>One97 Communications directly and via its subsidiary owns 49% of PPBL’s paid-up share capital.</p>
<p>Vijay Shekhar Sharma, the bank’s founder, has a 51% share.</p>