Paytm shares hit 5% upper circuit amid stake sale clarification

Shares of Paytm parent One97 Communications were locked in their 5% upper circuit limit of `359.55 on Wednesday even as the company clarified that founder and chief executive officer Vijay Shekhar Sharma is not in talks with Gautam Adani to sell a stake in the company.

On the other hand, shares of Adani Enterprises rose 0.3% higher at `3,255 on the National Stock Exchange.

“We hereby clarify that the above mentioned news item is speculative and the company is not engaged in any discussions in this regard,” the firm said in an exchange filing.