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