At ₹395, Paytm shares hit upper circuit for fourth straight session
The Hindu
Shares of One97 Communications which owns Paytm brand hit the upper circuit for the fourth consecutive session
Shares of One97 Communications which owns Paytm brand hit the upper circuit for the fourth consecutive session on February 21.
The stock of the fintech major climbed 5% each to ₹395.25 and ₹395.05 per piece — its upper circuit limit — on the BSE and NSE, respectively.
In the morning session, the 30-share BSE Sensex gained 27.95 points or 0.04% to 73,085.35, while Nifty of the NSE slipped 15.75 points to 22,181.20.
The Paytm scrip has rebounded since Friday and gained more than 21% from Thursday's closing level of ₹325.
The rally in shares of One97 Communication came amid reports that the Directorate of Enforcement (ED), which has been probing crisis-hit fintech company's arm Paytm Payments Bank Ltd (PPBL), has not found any breaches of the foreign exchange rules so far.
However, 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 initiated a probe into overseas transactions by PPBL for allegedly flouting foreign exchange rules.
Rupee hits all-time low at 85.20 against USD due to strong greenback, rising crude oil prices, and weak domestic markets.
Viatris faces U.S. FDA import alert for products from Indore plant, exceptions made for certain shortages.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.