Paytm moves up on partnering with Greater Hyderabad Municipal Corporation
Paytm (One 97 Communications) is currently trading at Rs. 816.65, up by 15.55 points or 1.94% from its previous closing of Rs. 801.10 on the BSE.
The scrip opened at Rs. 804.45 and has touched a high and low of Rs. 822.45 and Rs. 791.00 respectively. So far 263980 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1063.00 on 17-Dec-2024 and a 52 week low of Rs. 310.00 on 09-May-2024.
Last one week high and low of the scrip stood at Rs. 822.45 and Rs. 771.60 respectively. The current market cap of the company is Rs. 52172.57 crore.
The Institutions holding in the company stood at 67.91%, while Non-Institutions held 32.09% in the company.
Paytm (One 97 Communications) has partnered with the Greater Hyderabad Municipal Corporation (GHMC) to simplify property tax collection by deploying more than 400 Paytm All-In-One EDC Devices (Card Machines). The Paytm Card Machines deployed at multiple collection centers and for door-to-door collection, allows citizens to pay their property tax through credit cards, debit cards, and Paytm pioneered QR codes eliminating the need for cash, cheques, or demand drafts. The card machines are integrated with the GHMC app, enabling officials to check pending dues, collect payments instantly, and generate an on-the-spot confirmation slip.
With Paytm’s seamless payment solution, GHMC has streamlined collections, ensuring faster and more reliable transactions. On an average, GHMC collects Rs 5 to 7 crore in property tax every month, with collections surging to Rs 22 crore during mid-year and fiscal year-end periods.
One97 Communications is India's leading mobile payments and financial services distribution company. Pioneer of the mobile QR payments revolution in India, the company builds technologies that help small businesses with payments and commerce.
