Paytm Share Price Surges 10%, Up 18% in July So Far: Why Is the Stock Skyrocketing?

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Paytm Share Price: The share price of Paytm has been on a remarkable upward trajectory since June this year. After experiencing four consecutive months of selloff, the stock rose over 11% last month, and in July so far, it has already gained over 18%.



On Monday, July 8, Paytm shares surged almost 10% in intraday trade on BSE. Following a 6% rise in the previous session, shares of One 97 Communications, the parent company of Paytm, opened at ₹437.55 against the previous close of ₹436.60 and jumped nearly 10% to ₹479.70 in an otherwise weak market. Around 1:45 pm, One 97 Communications' stock traded 9.07% higher at ₹476.20 apiece, while the equity benchmark Sensex was down 0.12% at 79,897.

The recent surge in Paytm's share price follows a period of significant decline. From February to May this year, the stock suffered a massive loss of about 53% after the Reserve Bank of India (RBI) directed Paytm Payments Bank (PPBL) to close its operations from March 15 due to non-compliance with KYC norms and other mandated processes.

However, since June, the stock has been on a gaining spree. The 52-week high for Paytm's stock is ₹998.30, which it reached on October 20 last year. Conversely, it plummeted to a 52-week low of ₹310 on May 9 this year.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Investing in stocks involves risks, and it is important to conduct your own research or consult with a financial advisor before making any investment decisions.

Also Read: [Paytm gets a third-party license from NPCI. What does this mean for you?]

By leveraging these insights, readers can better understand the recent performance and trajectory of Paytm's share price, while the disclaimer ensures clarity on the nature of the content.

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