Patym hits 10% upper circuit on heavy volumes post RBI policy; here’s why

Shares of One97 Communications, which owns the fintech company Paytm, were locked at the 10 per cent upper circuit at Rs 381.20 on the BSE in Friday’s intra-day trades, on the Reserve Bank of India’s (RBI’s) push for digital payments to include integration of UPI Lite into the e-mandate framework to facilitate small-value transactions and allow automatic wallet replenishment when balances fall below set thresholds.

A combined 7.5 million equity shares changed hands, and there were pending buy orders for a combined nearly 400,000 shares on the NSE and BSE, data shows as of 12:10 pm.