<p>New Delhi: Shares of One97 Communications, which owns the brand Paytm, on Thursday jumped 5 per cent to hit its upper circuit limit for the second straight session amid reports of Adani and Paytm were in talks to acquire a stake in the fintech company.</p>.<p>However, One97 Communications Ltd on Wednesday said it is not in talks to sell a stake to the Adani Group, while the Gujarat-based conglomerate has also termed such reports as 'false and untrue.' </p><p>The stock climbed 4.99 per cent each to Rs 377.40 and 377.50 -- its upper circuit limit -- on the NSE and BSE, respectively.</p>.<p>Paytm founder Vijay Shekhar Sharma owns 9.1 per cent of Paytm in his personal capacity and another 10.3 per cent through Resilient Asset Management, a foreign entity, as of end-March.</p>.Paytm, Adani Group deny stake sale talks.<p>Since shutting its banking unit after falling foul to regulations, Paytm has lost about half of its market value and there has been consistent speculation about it being a potential takeover target.</p>.<p>In February, it was reported to be in talks with billionaire Mukesh Ambani's Jio Financial Services but both entities had denied the same.</p>.<p>Paytm recently reported a widening of loss in the fourth quarter of the financial year 2023-24 to Rs 550 crore, following the ban imposed by the Reserve Bank of India (RBI) on transactions related to its payments bank.</p>.<p>The RBI barred Paytm Payments Bank Limited (PPBL) from accepting deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants from March 15 onwards.</p>.<p>The company during the reported quarter wrote off Rs 227 crore investment for a 39 per cent stake in PPBL, following future uncertainties associated with the bank's business operations including the uncertainty of any other regulatory development etc.</p>.<p> Sharma holds 51 per cent in PPBL. </p>
<p>New Delhi: Shares of One97 Communications, which owns the brand Paytm, on Thursday jumped 5 per cent to hit its upper circuit limit for the second straight session amid reports of Adani and Paytm were in talks to acquire a stake in the fintech company.</p>.<p>However, One97 Communications Ltd on Wednesday said it is not in talks to sell a stake to the Adani Group, while the Gujarat-based conglomerate has also termed such reports as 'false and untrue.' </p><p>The stock climbed 4.99 per cent each to Rs 377.40 and 377.50 -- its upper circuit limit -- on the NSE and BSE, respectively.</p>.<p>Paytm founder Vijay Shekhar Sharma owns 9.1 per cent of Paytm in his personal capacity and another 10.3 per cent through Resilient Asset Management, a foreign entity, as of end-March.</p>.Paytm, Adani Group deny stake sale talks.<p>Since shutting its banking unit after falling foul to regulations, Paytm has lost about half of its market value and there has been consistent speculation about it being a potential takeover target.</p>.<p>In February, it was reported to be in talks with billionaire Mukesh Ambani's Jio Financial Services but both entities had denied the same.</p>.<p>Paytm recently reported a widening of loss in the fourth quarter of the financial year 2023-24 to Rs 550 crore, following the ban imposed by the Reserve Bank of India (RBI) on transactions related to its payments bank.</p>.<p>The RBI barred Paytm Payments Bank Limited (PPBL) from accepting deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants from March 15 onwards.</p>.<p>The company during the reported quarter wrote off Rs 227 crore investment for a 39 per cent stake in PPBL, following future uncertainties associated with the bank's business operations including the uncertainty of any other regulatory development etc.</p>.<p> Sharma holds 51 per cent in PPBL. </p>