Sunil Bharti Mittal, the chairperson of India's second-largest telco Airtel, is seeking to buy a stake in Paytm.

Vijay Shekhar Sharma Chairman, MD, & CEO of One97 Communication founded Paytm in 2010, backed by Japan’s SoftBank. and China’s Ant Group Co

[{"selector":"#anim-667cff84-a2c8-46fc-8cf1-9a6a86c4c12f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.134590150995642%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Stock Market News

Mittal is seeking to merge Airtel Payments Bank into Paytm Payments Bank in a stocks deal and is also seeking to buy Paytm shares from other holders

[{"selector":"#anim-1030c137-1060-4ccd-8b77-be33d28f77a6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.257324105020174%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Talks are in the early stages, Paytm representative said that the company focused on its "strong organic growth journey and is not involved in any such discussions

[{"selector":"#anim-8a9bd4a4-755f-447d-8351-79f4413b4855 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-22.67786534436621%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Shares of Paytm fell over 70% last year from the issue price of Rs 2150. But recently it rebounded on reports that the company may turn profitable

[{"selector":"#anim-44159662-2252-468a-bc4b-8d2da194a999 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-24.090909002804555%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Trading Tips

Airtel Payments Bank was launched in Jan 2017 while Paytm Payments Bank, too, was launched in the same year to support cashless payments

[{"selector":"#anim-9b64b1dc-0240-4e37-b65f-1abbedf73a53 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-46.59090875922418%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Mittal’s payments bank had 129 million customers and had turned profitable on March 31, 2022, granted the scheduled bank status by RBI

[{"selector":"#anim-431ff317-7d3b-402f-8bd2-2de0e19cc068 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Join Us

Paytm claims more than 20 Million merchants & businesses accept Payments digitally, and more than 300 million Indians use Paytm to Pay at their stores.

[{"selector":"#anim-e2e3683a-5bd6-42bc-975e-33d17875217c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.812499744007886%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}]

The share price of Paytm closed at Rs 622 on 24 Feb, more than 8 Broking houses recommended to buy Paytm shares for the target price of Rs 944 and above

[{"selector":"#anim-6c564da7-3f15-482e-8c46-806660c18e76 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-17.19134982213285%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Sources: Google, Livemint & Bloomberg Stocks Tips

MORE STORIES

[{"selector":"#anim-d7a3acb2-c95a-496d-bd0a-b83f68d68feb","keyframes":[{"offset":0,"transform":"translate3d(0, -267.09402%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -75.106838424%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -25.534188312%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -9.588675318%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -4.166666712%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1500,"fill":"both"}] [{"selector":"#anim-fcaa7f95-872a-4322-8335-43370b9c9752","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-0203de79-c743-456a-b54d-4f86ff87aace","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] More Stories