NEW DELHI: Shares of One97 Communications, the parent entity of Paytm, jumped as much as 8 per cent on Wednesday after a nod from the National Payments Corporation of India (NPCI) to onboard new users under UPI.
The stock rose by 8.40 per cent to close at Rs745 per share on the BSE while touching an intraday high of Rs771.25, a gain of 12.21 per cent.
On NSE
It gained 7.53 per cent at Rs 738.20 on NSE. The RBI has eased restrictions over its associate, Paytm Payments Bank Ltd. This has lifted concerns for the company, which was not allowed to extend the RuPay card facility to some of its merchant clients.
Paytm had been already permitted to make UPI transactions by the NPCI through four banks, that are SBI, Axis Bank, HDFC Bank, and YES Bank.
Paytm has confirmed to the BSE filing that the NPCI has sanctioned the deal, subject to compliance with all circulars and guidelines of the NPCI and in this regard of risk management and the customer data.
