What investors need to know about Paytm's stock price increase

TeknikalRaman Finance & Business POSTED BY: Ranjeet Kumar PUBLISHED: Jun 17, 22

On Wednesday, Paytm's stock surged on both the BSE and the NSE. One97 Communications' stock jumped more than 2%

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after the firm reported a 48 percent increase in average monthly users on its Paytm super app in the two months ended May.

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On the BSE India, One97 Communications limited's stock rose 2.15 percent to Rs 619.45. On the NSE, One97 Communications limited's stock rose 2.14 percent to Rs 619.50.

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According to One 97 Communications, over the two months ending in May 2022,

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the average monthly transactional users on Paytm Super App increased by 48%. For the two months ending in May 2022,

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the firm recorded a 105 percent year-over-year rise in merchant payment volumes of $26.2 billion.

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An initial public offering (IPO) was used to issue Paytm or One97 Communications Limited shares on stock exchanges (IPO).

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It is still one of the largest initial public offerings (IPOs) in the Indian market.

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One97 Communications Limited's shares was trading at 1,564.15 on the stock exchange,

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compared to the Paytm IPO issue price of Rs 2,150. Paytm's share price was still down Rs 1,530 from the IPO listing price even after today's gain.

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