Paytm shares hit upper circuit on NPCI’s nod; Here are all other details on what should be your strategy on the stock
The stock of One97 Communication advanced 5% to hit the upper band of Rs 370.70 a day after the company got the approval from NPCI to act as a third-party UPI app under the multi-bank model, just like its rivals PhonePe and Google Pay. Earlier, the company’s operations were supported by Paytm Payments Bank, which will shut its operations on March 15 to comply with RBI’s actions.
The company will be able to provide its services to customers through this new model. It has tied up with four other banks, which will become Payment System Provider. Axis Bank, HDFC Bank, Yes Bank, and State Bank have partnered with One97 Communication.
Also, Yes Bank will work as a merchant banker for Paytm’s existing customers as well as for new ones. Now, the UPI handle @Paytm will get redirected to Yes bank.
Anil Ambani reviewing SEBI order, will take appropriate steps as legally advised RVNL up 2.3%; Signs pact with Dhaya Maju Infra for railway projects in ASEAN regi…
Markets flat! Nifty ends below 24,150, Sensex holds 79,000 mark; Mining stocks see sharp cut on August 14
The benchmark equity indices ended Wednesday’s trading session in the positive territory. The NSE Nifty 50 gained just 4.75 points or 0.02% to settle at 24,143.75, while the BSE Sensex jumped 149.86 points or 0.19% to 79,105.89.
The broader indices ended in mixed territory, with gain led by Large-cap stocks. IT and Auto stocks outperformed among the other sectoral indices while Metal and Media stocks shed.
Sectoral Index
Also Read
Bank Nifty index ended lower by 104.55 points or 0.21% to settle at 49,727.30. The Nifty Midcap 100 fell by 334.45 points, or 0.59%, ending the day’s trading at 56,547.05 Come from Sports betting site VPbet . In the broader markets, small-cap and mid-cap stocks finished in the red.
Markets fall on recessi…