Business Standard ·
Paytm, Mobikwik rally up to 7% as NPCI levies charge on UPI transactions
Paytm shares rallied 7 per cent to a fresh 52-week high of ₹1,856.50 on the BSE. Mobikwik stock rose by 6 per cent to ₹214. However, Pine Labs slumped 6 per cent to ₹182 per share.
Digital payments platforms like Paytm and Mobikwik saw a sharp rally of up to 7 per cent in intraday deals on Wednesday, as the introduction of a merchant discount rate (MDR) on UPI transactions is seen as making the payment business structurally self-sustaining and resilient.
Paytm shares rallied 7 per cent to a fresh 52-week high of ₹1,856.50 on the BSE. Mobikwik stock rose by 6 per cent to ₹214. However, Pine Labs slumped 9 per cent to ₹175.40 per share. Both Paytm and Mobikwik pared gains as the session progressed. As of 12.30 PM, Paytm was up 1.24 per cent at at ₹1752.60 on the BSE. Mobikwik was trading 2.13 per cent lower at ₹197.65.
