The stock jumped 4.99 per cent to Rs 423.45 -- the upper circuit limit -- on the NSE.
In traded volume terms, 7.97 lakh shares of the company were traded on the BSE and over 46.64 lakh shares on the NSE during the day.
Amid
The move assumes significance as
In a filing on Friday, One97 Communications said the company and its associate entity, Paytm Payments Bank Limited, have introduced additional measures to strengthen their approach towards independent operations of PPBL.
"As part of this process to reduce dependencies, Paytm and PPBL have mutually agreed to discontinue various inter-company agreements with Paytm and its group entities," the BSE filing said.
Also, the
The Board of OCL (One97 Communications Ltd) approved the termination of agreements and amendment of SHA on March 1, 2024.
Paytm had announced earlier that it would sign up new partnerships with other banks and take measures to provide seamless services to its customers and merchants.
In a regulatory action in January, the RBI barred PPBL from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29 -- a deadline that was later extended to March 15.