Paytm rallies 9% on partnership with Samsung; stock up 28% in one month

Shares of Paytm’s parent company One 97 Communications rallied 8.9 per cent at Rs 438.95 per share on the BSE in Thursday’s intraday deals.The stock has gained 27.6 per cent in the last one month, while gaining 41 per cent from its 52-week low of Rs 310 that the stock hit on May 05, 2024. However, it’s still down 56 per cent from its 52-week high of Rs 998 that the stock reached on October 20, 2023.

The recent surge in stock price came after the company on Thursday, revealed that it has partnered with Samsung to bring travel and entertainment services to Samsung wallet in India. This will allow Samsung wallet users to have seamless access to Paytm’s flight, bus, movie and events booking services, the company said in an exchange filing.