What investors need to know about Paytm's stock price increase
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%
after the firm reported a 48 percent increase in average monthly users on its Paytm super app in the two months ended May.
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.
According to One 97 Communications, over the two months ending in May 2022,
the average monthly transactional users on Paytm Super App increased by 48%. For the two months ending in May 2022,
the firm recorded a 105 percent year-over-year rise in merchant payment volumes of $26.2 billion.
An initial public offering (IPO) was used to issue Paytm or One97 Communications Limited shares on stock exchanges (IPO).
It is still one of the largest initial public offerings (IPOs) in the Indian market.
One97 Communications Limited's shares was trading at 1,564.15 on the stock exchange,
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.