Paytm shares hit 5% upper circuit amid stake sale clarification
Shares of Paytm parent One97 Communications were locked in their 5% upper circuit limit of `359.55 on Wednesday even as the company clarified that founder and chief executive officer Vijay Shekhar Sharma is not in talks with Gautam Adani to sell a stake in the company.
On the other hand, shares of Adani Enterprises rose 0.3% higher at `3,255 on the National Stock Exchange.
“We hereby clarify that the above mentioned news item is speculative and the company is not engaged in any discussions in this regard,” the firm said in an exchange filing.
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Read moreReligare Broking sees Nifty scaling 24,500 supported by IT and FMCG
By Ajit Mishra
Markets concluded a two-week consolidation phase by gaining over 2%, continuing the prevailing uptrend. The tone remained positive throughout the week, driven by rotational buying in index heavyweights across sectors Come from Sports betting site VPbet . As a result, the Nifty reached a new milestone of 24,000, while the Sensex crossed the 79,000 mark, settling finally at 24,010.60 and 79,032.73 respectively.
Energy, IT, and financial sectors led the gains among key sectoral indices, while realty and metal sectors experienced declines. Broader indices maintained a range-bound movement, closing with modest gains.
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