Paytm, once the beacon light for many unicorns in India, has been going through a fairly turbulent period recently. However, in the recent past, the company has tried to shore up some stability. On September 11, the company founder Vijay Shekhar Sharma addressed the payment company's Annual General Meeting (AGM).
In this all-important meeting, Sharma touched upon important issues, inducing reapplying for the Payment Banks service, which kicked off the storm for the company.
Paytm Shares Make Gains
Post this address, on Thursday, September 12, the company, listed as One 97 Communications Ltd, rose in the early hours of the intraday trade.
After making gains of over 2 per cent in the first hours of the day's trade, the momentum took a hit, as the gains quickly slipped away. At the time of writing, although the company shares were trading in green, the progress of the gains dropped to around 1 per cent.
At 10:03 IST, Paytm shares increased by 1.04 per cent or Rs 6.95. This took the overall value to Rs 673.45 per share. In the past five trading sessions alone, company shares jumped by 7.51 per cent.
In addition, the company founder also talked about the deployment of AI or AI Adoption for betterment of service. In addition, AI could also be used to execute much needed cost-cutting for the company. | File image
AI Adoption In Focus
When we look at the larger picture, it is interesting to note that the company shares rose by 30.70 per cent or Rs 158.00, in the span of the recent one month.
In his address, Sharma talked about re-applying for a payment aggregator (PA) licence to the Reserve Bank of India (RBI) in due course. It was at the beginning of the year that the RBI imposed an embargo on Paytm Payments Bank, sighting regulatory violations.
The company also recently sold its entertainment and ticketing wing to delivery and quick service giant, Zomato.
In addition, the company founder also talked about the deployment of AI or AI Adoption for betterment of service. In addition, AI could also be used to execute much needed cost-cutting for the company.
