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paytm: Paytm rallies for 2nd consecutive day, market cap crosses Rs 1 lakh crore mark

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NEW DELHI: Shares of Paytm‘s parent company One97 Communications continued to rally for the second consecutive day on Wednesday and further jumped over 17 per cent.
Paytm, India’s leading digital payments and financial services platform is making a comeback in the stock market as it crossed the Rs 1,700 mark on Wednesday morning trade.
The stock zoomed 17.27 per cent to close at Rs 1,753.15 on the BSE. During the day, the stock jumped 19.73 per cent to Rs 1,790.
On the NSE, it gained 17.28 per cent to close at Rs 1,753.
With the rally in the stock price, the company’s market valuation also went past Rs 1 lakh crore mark on the BSE. The company commanded a market valuation of Rs 1,13,652.10 crore.
One97 Communications stock had surged nearly 10 per cent on Tuesday also.
Shares of One97 Communications Ltd on Thursday made a weak market debut and tumbled over 27 per cent from the issue price of Rs 2,150.
It declined for the second day in a row on Monday, tumbling 13 per cent.
Equity markets were closed on Friday on account of ‘Guru Nanak Jayanti’.
Ant Group-backed Paytm’s Rs 18,300 crore IPO, India’s biggest share sale, was oversubscribed 1.89 times earlier this month.
This was greater than miner Coal India’s Rs 15,000 crore offer a decade ago.
Incorporated in 2000, One97 Communications is India’s leading digital ecosystem for consumers and merchants.

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