Paytm stock rises following the management's enthusiastic remarks about growth and profitability

On December 2, One 97 Communications, the business that runs Paytm, saw a slight increase in share price as a result of the firm sounding upbeat about its growth prospects and restating its forecast for operational profit next year.

According to ICICI Securities, which was present during the company's analyst day meet, "Management highlighted that the road to achieving operating profitability (EBITDA before ESOP cost) via constant margin improvement has exceeded its estimates in the past few quarters."

The benchmark Sensex was down 385.44 points or 0.61 percent at 62,898.75 at 10:30am, while the stock was up 3.78 percent at Rs 520.45 per share.