HomeStock MarketPaytm shares jump 10%, take 2-day rally to 13%

Paytm shares jump 10%, take 2-day rally to 13%

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Paytm's Vijay Shekhar Sharma says there would be no layoffs, working with  RBI: Report - BusinessToday
  1. Shares of One 97 Communications Ltd (Paytm) rose nearly 10% in Wednesday’s trade and gained 13% over two days following reports that CEO Vijay Shekhar Sharma met with Finance Minister Nirmala Sitharaman and RBI officials regarding restrictions on Paytm Payments bank.
  2. Despite the recent rally, Paytm shares are still down 34.85% from their previous levels of Rs 761 at the time of RBI’s strict measures.
  3. Economic Times reported that the Directorate of Enforcement (ED) may initiate a formal probe into Paytm to investigate issues raised in the RBI reference, although Paytm had previously denied reports of investigation or violation of Foreign Exchange rules.
  4. Paytm’s stock has been under pressure since the RBI announced restrictions on Paytm Payments Bank’s operations due to persistent non-compliances and material supervisory concerns.
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