Paytm shares rally 4% on cutting dependency on payments bank

Shares of One 97 Communications, parent company of Paytm, rallied 4% to Rs 420 after Paytm and Paytm Payments Bank agreed to discontinue inter-company agreements. Meanwhile, SoftBank Group sold 2.2% stake amid regulatory uncertainty. Further, PPBL shareholders have agreed to simplify the Shareholders Agreement (SHA) to support PPBL’s governance, independent of its shareholders.