Paytm Shares Rebound: Surge 5% from Record Low to Hit Upper Circuit

Paytm shares witnessed a 5% increase, reaching Rs 341.50 from the previous day’s close of Rs 325.25 on the BSE. Consequently, the market capitalization of the company surged to Rs 21,690 crore.

Paytm observed 21.65 lakh shares traded, totaling a turnover of Rs 72.29 crore on the BSE. The stock experienced a 2% decline, reaching a low of Rs 318.35 on the BSE today. Notably, Paytm shares had previously hit a record low for the fourth consecutive day.

Paytm shares surged to the upper circuit of 5% during the afternoon session, reaching Rs 341.50 from the previous close of Rs 325.25 on the BSE. The company’s market capitalization increased to Rs 21,690 crore. Trading volume amounted to 21.65 lakh shares, with a turnover of Rs 72.29 crore on the BSE. Earlier, the stock had hit a record low for the fourth consecutive day amidst revised circuit limits of 5% from 10% by stock exchanges BSE and NSE, effective from February 15. Today, the stock declined by 2% to a low of Rs 318.35 on the BSE.

The shares of Paytm witnessed volatility following the imposition of restrictions by the Reserve Bank of India (RBI) on its Payments Bank division. This move prompted bourses to reduce the circuit limit for Paytm shares from 20% to 10%.

Additionally, the stock experienced fluctuations after Paytm clarified that it had provided documents requested by the Enforcement Directorate (ED) regarding alleged violations of the Foreign Exchange Management Act (FEMA). The company’s executives were reportedly questioned by the ED, and they cooperated by providing the necessary information and documents for the investigation.

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