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Paytm Share Price Up by 5.5% Due To Block Deal: Get the Full Story Here!

Paytm share price rose 5.5% to ₹724.85 following a block deal where about 0.8% of One 97 Communications was sold for ₹327.8Cr, positively impacting the stock.
Paytm Share Price Up by 5.5% Due To Block Deal: Get the Full Story Here!

Paytm share price rose by 5.5% to ₹724.85 on the BSE following a block deal that saw approximately 0.8% of One 97 Communications, Paytm’s parent company, change hands for ₹327.8 crore. This substantial transaction positively influenced the stock’s performance.

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Earlier this month, Vijay Shekhar Sharma, founder and CEO of Paytm, announced a strategic shift in the company’s financial goals. Moving forward, Paytm will prioritise achieving profit after tax over merely targeting operational profits before accounting for employee stock options.

This strategic shift follows Paytm’s earlier commitment to reaching a positive EBITDA, which excludes the cost of ESOP (Employee Stock Option Plan). This financial target sets a foundational goal for the company’s earnings strategy.

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In regulatory advancements, Paytm secured governmental approval in August for downstream investment in its wholly-owned subsidiary, Paytm Payment Services Ltd. This approval marks a critical step in the company’s broader expansion plans.

Additionally, Paytm disclosed plans to reapply for a payment aggregator licence. This move is part of Paytm’s ongoing efforts to expand its regulatory compliance and service capabilities in the fintech sector.

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The company’s focus on regulatory approvals and strategic financial planning underscores its commitment to solidifying its market position and enhancing shareholder value amidst evolving industry dynamics.

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