Paytm shares jump over 7%; Pine Labs, One Mobikwik pare early gains

Shares of fintech firms such as Paytm rallied in Wednesday morning trade after the government introduced a 0.4% fee on transfers worth more than Rs 2,000 made to merchants through the UPI platform from October 15. The stock of One97 Communications Ltd, which owns the Paytm brand, jumped 7.24% during intraday deals to reach the 52-week high of Rs 1,856.50 on the BSE. Shares of One Mobikwik Systems Ltd climbed 5.96%, and Pine Labs edged higher by 2.68%.