Paytm launches UPI Lite auto top-up; clarifies on UPI International; stock down

One 97 Communications Ltd (Paytm's parent) on Monday introduced automatic top-up for UPI Lite to make daily payments faster. "This feature allows users to automatically recharge their UPI Lite balance when it falls below a set limit, ensuring seamless small-value transactions without the need for a PIN. Payments of up to Rs 500 can be made per transaction, with a daily limit of Rs 2,000, making it ideal for recurring daily payments," it stated in a release.

"Additionally, the company has introduced a UPI statement download feature, enabling users to view and download detailed records of all UPI transactions, including those made via Paytm UPI Lite. This enhancement supports effective expense monitoring and spending management. The Paytm UPI Lite auto top-up feature is live on YES Bank and Axis Bank handles for select users, and will soon be expanded to all users and remaining partnered banks," the digital payments firm added.

Paytm spokesperson said, "The introduction of automatic top-up in Paytm UPI Lite makes everyday payments faster and more seamless, covering everything from daily chai and food to auto, metro, and bus rides."

Separately, Paytm has issued a clarification over a news report "One 97 Communications stock gains 3% as Paytm unveils UPI International." The fintech player mentioned that the report is "factually correct." "We wish to clarify that the abovementioned news item refers to the launch by the company of UPI International, which is factually correct. However, this being in the normal course of business did not require a stock exchange disclosure under Regulation 30 of the Sebi Regulations, 2015 read with the 'Policy on Material Events and Information' of the company," Paytm said.

On the stock-specific front, Paytm shares were last seen trading 0.61 per cent lower at Rs 894.55. At this price, the stock has risen 38.42 per cent in the calendar year 2024 so far.

Around 4.78 lakh shares were seen changing hands today on BSE. The figure was lower than the two-week average volume of 7.44 lakh shares. Turnover on the counter came at Rs 43.39 crore, commanding a market capitalisation (m-cap) of Rs 57,065.25 crore.

Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 68.91. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a negative price-to-equity (P/E) ratio of 69.61 against a price-to-book (P/B) value of 4.47. Earnings per share (EPS) stood at (-)12.93 with a return on equity (RoE) of (-)6.42.