Paytm advances 5% on report that Sunil Mittal is eyeing stake in company

Shares of digital financial services firm One97 Communications, which owns Paytm, rallied 5 per cent to Rs 655.30 on the BSE in Monday’s intra-day trade amid heavy volumes on report that telecom tycoon Sunil Mittal is eyeing stake in the company.

In the past two trading days, the stock of the fintech company has surged 8 per cent in an otherwise weak market. At 09:28 am, Paytm was quoting 3 per cent higher at Rs 642, as compared to 0.22 per cent decline in the S&P BSE Sensex. A combined around 3.2 million equity shares had changed hands on the counter on the NSE and BSE in the first 13 minutes of trade.