Paytm shares jump 5 pc; hit upper circuit limit

Shares of One97 Communications, which owns Paytm brand, on Wednesday morning jumped 5 per cent to hit its upper circuit limit, amid media reports that the Adani Group may acquire a stake in the fintech firm.

The reports have been denied by both the fintech firm and the Adani Group.

The stock climbed 4.99 per cent to Rs 359.55 — its upper circuit limit — on the BSE.

At the NSE, it rallied 4.99 per cent to Rs 359.45 — the highest trading permissible limit for the day.

According to media reports, Adani Group chairman Gautam Adani is looking to buy a stake in One97 Communications, which operates Paytm.