Paytm stock hits 5% upper circuit even as Co denies Adani stake buy report

Shares of One97 Communications, which owns the fintech company Paytm, were locked in the 5-per cent upper circuit at Rs 359.55 on the BSE on Wednesday at 09:18 AM on reports that Adani Group may acquire a stake in Paytm.

On its part, One97 Communications has clarified that the news item is speculative and the company is not engaged in any discussions in this regard.

A combined 546,000 equity shares changed hands, and there were pending buy orders for a combined nearly 4 million shares on the NSE and BSE, data shows. In comparison, the S&P BSE Sensex was down 0.33 per cent at 74,922.