Business · India Bureau
Paytm shares hit post-listing peak, though still lag IPO valuation
One97 Communications, the parent company of digital payments platform Paytm, reached a record high since its public listing, though the stock remains below its initial offering price.
LSN India ·
Shares of One97 Communications climbed to ₹1,807.5 on Monday, marking the strongest performance for the digital payments company since its stock market debut. The milestone represents a recovery in investor sentiment for Paytm, one of India's most prominent fintech firms, though analysts note the stock has yet to match the valuation at which it was first offered to the public.
The gains come as the broader market continues to evaluate Paytm's business model and profitability trajectory following its highly anticipated listing. The company has faced scrutiny over its unit economics and path to profitability, factors that initially weighed on the stock's performance in the months after its debut.
In parallel market developments, Krishna Prasad Chigurupati, promoter of Granules India, the pharmaceutical manufacturer, offloaded a 6.95 percent stake valued at ₹1,501 crore through block deals. The transaction represents a significant reduction in the promoter's holding in the company and signals confidence in current market valuations for the sector.
The divergent movements in Paytm and pharmaceutical stocks reflect the selective nature of investor appetite in current market conditions, with technology and healthcare sectors each responding to distinct fundamental and sentiment drivers.