Paytm touches upper circuit despite refuting stake sale rumours; know details

Paytm Share Price: Even as digital payment giant Paytm refuted reports that the Adani group is in talks with Paytm founder Vijay Shekhar Sharma to buy a stake in the digital payment company, the stock of One97 Communications touched an upper circuit on BSE on Wednesday (May 29, 2024).  

After closing at Rs 342.45 in the previous session, the stock of the company soared by 4.99 per cent to Wednesday's high of Rs 359.55.

One97 Communications' shares were trading higher by 4.99 per cent, or Rs 17.10, at Rs 359.55 each at 2:33 pm on Wednesday.

Reacting to a report that the Adani group can buy a stake in Paytm, the digital payment company said in a statement on Wednesday: "With reference to the captioned subject, we hereby clarify that the abovementioned news item is speculative and the Company is not engaged in any discussions in this regard.

"We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."