Paytm parent One 97 Communications stock rises on bonus news
Business
Paytm's parent company, One 97 Communications, saw its stock edge up on Thursday after news broke that the board will consider giving out bonus shares.
The stock touched a high of ₹1,395.90 before paring gains to ₹1,372.40 as of 10:31am just a bit higher than yesterday.
The board is set to meet on July 20 to talk about the bonus issue and check out its latest quarterly results.
Paytm up 36.67% past year
Paytm shares have been on a roll this past year, jumping 36.67%, way ahead of the Nifty Midcap 50's 7.6%.
In early trade on Thursday, the traded value hit ₹186.36 crore.
Analysts like Dr VK Vijayakumar say the possible bonus shares and strong Q1 results could keep Paytm in the spotlight for investors looking at digital-first companies.