Paytm Shares Surge 5%, Hit 3rd Upper Circuit with Rs 296.3 Cr Deal!Paytm Shares Surge 5%, Hit 3rd Upper Circuit with Rs 296.3 Cr Deal!

Paytm experiences a 5% upper circuit for the third consecutive session, accompanied by a significant block deal worth Rs 296.30 crore. The deal, transacted at an average price of Rs 391 per share, reflects a 3.6% premium from the previous close.

At 09:39 am on 31st May, Paytm shares traded at Rs 391.60 on the NSE, slightly below the day’s high of Rs 396.25. Today marks the third consecutive day of Paytm shares hitting their 5% upper circuit.

Following the block deal, trading volumes surged as one crore shares changed hands on the exchanges, a substantial increase compared to the one-month average of 36 lakh shares.

Additionally, Paytm shares have been on a decline since the Reserve Bank of India imposed restrictions on its banking division. The central bank’s measures include prohibiting Paytm Payments Bank from onboarding new customers and issuing credit since March.

Despite regulatory challenges, Paytm’s shares continue to show resilience, with a 5% surge for the second consecutive trading session on May 30. The fintech major remains in focus amidst evolving regulatory dynamics and its ongoing impact on the company’s performance.