Paytm hits over 3-mth high; surges 28% in 2 days on improved Q3 performance

Shares of digital financial services firm One97 Communications, which owns Paytm, hit over three-month high of Rs 669.60 as they zoomed 20 per cent on the BSE in Tuesday’s intra-day trade.The massive buying comes on the back of improved financial performance of the company in the October-December quarter (Q3FY23).

The stock was trading at its highest level since October 18, 2022, having surged 28 per cent over the past two trading sessions. At 10:41 am, Paytm was trading 11 per cent higher at Rs 617.80 amid heavy volumes. The average trading volumes on the counter jumped more than two-fold with a combined 12.2 million shares having changed hands on the NSE and BSE till the time of writing of this report. In comparison, the S&P BSE Sensex was almost unchanged at 60,506.