Paytm share price rebounds after falling 4% on ED notice over alleged FEMA violations. What led to the bounceback?

Shares of financial technology firm One 97 Communications, parent of payment aggregator Paytm, dropped as much as 4% in intraday trade on Monday, March 3, after the enforcement directorate (ED) sent a notice to the fintech firm for the alleged violation of certain FEMA rules by the company and its two subsidiaries.

However, the stock erased all losses by the afternoon session to trade in the green amid a recovery in the broader markets and following a partnership with RBL Bank.