Paytm Hits New High After SoftBank Deal

Paytm’s parent company, One97 Communications, saw its shares rise 3% to a 52-week high of ₹1,007. This surge followed the approval to sell its stake in Japan’s PayPay Corporation to SoftBank Vision Fund for ₹2,364 crore. The deal strengthens Paytm’s cash reserves, aiding future growth plans. The stock has rebounded strongly, gaining 225% since May 2024. Analysts predict steady growth as Paytm focuses on revenue expansion.