Paytm hit 5% upper circuit second consicutive trading days after make bottom.
Paytm shares gained 5 percent to hit the upper circuit for the second consicutive session after the crisis hit company partnered with Axis Bank for the settlement of merchant payments. At 9:16 am, the stock was trading at Rs 358.35 on the NSE.
One97 Communications has shifted its nodal account to Axis Bank through an escrow account that it has opened with it. The parent company of Paytm, Paytm QR, Soundbox, and card machines, will continue to operate for all its merchant partners, the company said in a released.The announcement came after the Reserve Bank of India (RBI) extended the deadline to halt operations and for Paytm Payments Bank account holders, both customers and merchants, to move their assets and look for alternative banks till March 15.
