Paytm stock fully recovers from RBI ban, gains 11% to Rs 762

Quick Summary:

The stock climbed past its pre-restriction level of Rs 761.20, erasing losses triggered when the Reserve Bank of India imposed sanctions on its payments bank unit earlier this year.

With this model, Paytm is looking to scale its lending partnerships in the coming quarters, viewing it as a key strategy to boost both volumes and profitability.

This transaction provided a gain of Rs 1,345.4 crore, propelling the company to a quarterly profit of Rs 930 crore, compared to a loss of Rs 840.1 crore in Q1 FY24.

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Article Details

Author / Journalist: Sayan Sen

Category: StartupsEconomyBusiness

Markets: India

Topics: Policy Stock Paytm Lending Climbed India Privacy Company Crore Bank Payments

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 09:20:02 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 23213620

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