Paytm's Market Moves: Decline in Stock Amid Strategic Stake Sale

Paytm's stock experienced a decline after initial gains, as One97 Communications announced the sale of its entire stake in PayPay Corporation. The stock closed lower on both NSE and BSE amid profit-taking. The decision to sell Stock Acquisition Rights was made in a board meeting on December 6, 2024.

Paytm's stock, under One97 Communication, witnessed a dip on Monday as early gains were trimmed due to profit-taking activities. The company's shares concluded at Rs 969.70 on NSE, reflecting a 0.67% fall.

On the BSE, the scrip settled at Rs 971.20, marking a 0.47% decrease. Despite hitting a 52-week high earlier in the day, significant trading volumes were recorded with 1.03 crore shares changing hands on NSE.

Compounding the day's events, One97 Communications announced the divestment of its 7.2% stake in PayPay Corporation, valued close to Rs 2,000 crore, in a strategic move decided at a crucial board meeting.

(With inputs from agencies.)