Paytm up 5% on sale of entertainment biz; stock zooms 95% from 52-week low

Shares of One 97 Communications (OCL), which runs the Paytm payments platform, hit an over six-month high of Rs 604.45, up 5 per cent on the BSE in Thursday’s intra-day trade.

The rally in the company’s stocks came after it announced on Wednesday that it will sell its entertainment ticketing business to food delivery platform Zomato for a consideration of Rs 2,048 crore.

At 11:00 am; Paytm was trading nearly 2 per cent higher at Rs 582.90, compared to the 0.22 per cent rise in the BSE Sensex. The stock is trading at its highest level since February 1, 2024. The stock had bounced back 95 per cent from its 52-week low of Rs 310, that it had touched on May 9, 2024.