Paytm shares jump 5%; co clarifies stock exchanges about price, volume surge

One 97 Communications Ltd (Paytm) in a clarification to stock exchanges on Friday said it has no information or announcement, which may have a bearing on the price or volume behaviour in its shares across stock exchanges. Paytm, which was sought clarification by exchange over its price surge, said it has been making necessary disclosures from time to time to enable the shareholders and the public to stay apprised.

"We assure you that we have always made and will continue to make disclosures on our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," it said in a BSE filing.

The stock was locked at its 5 per cent upper circuit limit of Rs 407.60 on BSE. Earlier today, the  Reserve Bank of India (RBI) permitted bank and non-bank managed prepaid payment instruments to make payments across various public transport systems. Paytm Payments Bank Ltd (PPBL) was last month barred by the central bank from accepting deposits, credit transactions, or top-ups in any customer accounts, wallets, NCMC and FASTags

"Public transport systems across the country cater to a multitude of commuters on a daily basis. To provide convenience, speed, affordability, and safety of digital modes of payment to commuters for transit services, it has been decided to permit authorised bank and non-bank PPI issuers to issue PPIs for making payments across various public transport systems. The MD-PPIs has been updated by revising paragraph 10.2 thereof," RBI said.

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