Paytm’s Parent One97 Communications Crosses Rs 1 lakh crore Valuation Mark
The parent company India’s biggest payment services firm Paytm that is One97 Communications has reportedly and successfully crossed the valuation mark of Rs 1 lakh crore in the unofficial market.
Talking about the unofficial market, the firm’s value has raced past the market capitalisation of listed blue-chips like IndusInd Bank, Mahindra & Mahindra, Bajaj Finserv, Titan, HDFC Standard Life Insurance and Godrej Consumer.
One97 shares changed hands at roughly Rs 18,200 a piece this week, running up nearly 60% in the last six months after Warren Buffett’s Berkshire Hathaway bought a stake in the company.
“Shares of One97 Communications have jumped from Rs 11,000 to Rs 18,000 in just six months after Warren Buffett’s firm invested,” said Sambhav Aggarwal, director, ARMS Securities,...