Paytm surges 7% on share buyback plan; board to meet on Dec 13

The company in a release to the exchanges said that the management believes that given the company's prevailing liquidity/ financial position, a buyback may be beneficial to the shareholders.

Shares of One 97 Communications, a digital financial services firm which operates under the Paytm brand, surged nearly 7 per cent to a high of Rs 542.90 in intra-day trades on Friday after the company announced its plans to consider share buyback.

According to a release issued by the company to the BSE, One 97 has scheduled its board meet on December 13, Tuesday, to consider the share buyback proposal. 

The management believes that given the Company's prevailing liquidity/ financial position, a buyback may be beneficial for our shareholders, the release stated.

At 09:30 AM, Patym traded 4.5 per cent