Paytm shares surge nearly 10% after slumping for two straight sessions

After slumping for two straight sessions post listing, shares of Paytm's parent company One97 Communications surged nearly 10 per cent on Tuesday.

The counter, which had a deserted look for the past two trading sessions zoomed 9.90 per cent to close at Rs 1,494.95 on BSE. During the day, the stock jumped 12.10 per cent to Rs 1,525.

On NSE, it gained 9.93 per cent to close at Rs 1,494.70.

Shares of One97 Communications Ltd on Thursday made a weak market debut and tumbled over 27 per cent from the issue price of Rs 2,150.

It declined for the second day in a row on Monday, tumbling 13 per cent.

Equity markets were closed on Friday on account of 'Guru Nanak Jayanti'.

Ant Group-backed Paytm's Rs 18,300 crore IPO, India's biggest share sale, was oversubscribed 1.89 times earlier this month.

This was greater than miner Coal India's Rs 15,000 crore offer a decade ago.

Incorporated in 2000, One97 Communications is India's leading digital ecosystem for consumers and merchants.