Paytm Shares Regain Lost Ground Since RBI’s January Crackdown
- Stock jumps 12% Wednesday after approval to onboard new users
- The rally reflects easing regulatory concern for the firm
This article is for subscribers only.
Paytm’s shares are on course to erase losses suffered since the Indian central bank’s crackdown on its payment business earlier this year, after the firm received an approval to onboard new users.
The shares of One 97 Communications Ltd., the payment firm’s parent, jumped as much as 12% on Wednesday — the most in more than two weeks — to 771.70 rupees ($9.2), before paring some of the gains. The stock is now about 2% away from its Jan. 31 level when the central bank ordered to halt much of its business.