Paytm shares up 3% to fresh 52-week high on nod to sale of PayPay stake for Rs 2,364 crore

Paytm shares rallied over 3% to a fresh 52-week high of Rs 1,007 on Monday after its Singapore-based unit approved the sale of its stock acquisition rights (SARs) in Japanese payments firm PayPay for net proceeds of JPY 41.9 billion, equivalent to Rs 2,364 crore. The deal is expected to strengthen the company’s consolidated financial position.