Paytm hits over 3-mth high; surges 28% in 2 days on improved Q3 performance

Paytm reported adjusted Ebitda breakeven three quarters ahead of management's initial guidance of September 2023

Shares of digital financial services firm One97 Communications, which owns Paytm, hit over three-month high of Rs 669.60 as they zoomed 20 per cent on the BSE in Tuesday's intra-day trade.The massive buying comes on the back of improved financial performance of the company in the October-December quarter (Q3FY23).

The stock was trading at its highest level since October 18, 2022, having surged 28 per cent over the past two trading sessions. At 10:41 am, Paytm was trading 11 per cent higher at Rs 617.80 amid heavy volumes. The average trading volumes on the counter jumped more than two-fold