look news india
Paytm share news: One97 Communication shares fell heavily after RBI banned Paytm Payments Bank. The situation was such that its share price had reached close to Rs 300. But today its share has reached close to Rs 1000. Paytm shares recovered losses and hit 52-week high. Paytm shares closed 2.04 percent higher on Friday.
The rise in Paytm’s shares has come after this news, actually the news is that the domestic fintech company can sell its stake in Japan’s PayPay for $250 million. Following this, the stock surged and shares of the fintech company rose by more than 3 per cent during intraday to reach a 52-week high of Rs 991.25 per share. The company has given this information to the exchange.
Shares of One97 Communications Ltd have gained 50.44 per cent on year-to-date basis, while the benchmark BSE Sensex has gained 13.04 per cent during the same period. Paytm shares have registered huge gains in the last 6 months. Its stock has seen an increase of 182 percent in the last 6 months. However, its shares are still well below its IPO price.
The digital payments company said in a filing to BSE that the exchange has sought clarification from One97 Communications Ltd regarding a news dated December 6, 2024, which said ‘Paytm will sell its stake in Japan’s PayPay to SoftBank for $250 million. Will sell. waiting for an answer. Paytm shares witnessed very high trading volumes on BSE today as around 7.24 lakh shares were traded at the time of writing this story. This figure was more than the two-week average volume of 6.65 lakh shares.
The market capitalization of Paytm was Rs 62,248.37 crore. There were 11,12,500 buy orders against sell orders of 1,46,200 shares. Technically, the stock was trading above the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages. The stock’s 14-day RSI is 72.94, which shows that the stock is overbought.
Vice President, Technical Research and Algo, Choice Broking told Business Today that immediate resistance for Paytm can be seen at Rs 1,000. A decisive break above the said resistance zone could accelerate further gains towards Rs 1,400-1,500 levels.