Shares of One97 Communications Ltd (OCL) rose nearly 3 percent as 8.75 lakh shares or 0.13 percent equity worth Rs 56.78 crore changed hands in a block deal on March 31.
One97 Communications is the parent entity of leading mobile payments and financial services company Paytm. The shares changed hands at an average of Rs 648.45 apiece.
At 2.25 pm, OCL’s stock was at Rs 645.60 per piece, up 2.6 percent from the previous close on the BSE. The stock had touched an intraday high of Rs 655.90 apiece earlier in the day.
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OCL had last month said that it had narrowed its consolidated net loss to Rs 392 crore in the third quarter ended December 2022. Its revenue from operations jumped about 42 percent to Rs 2,062.2 crore during the quarter from Rs 1,456.1 crore in the year-ago period.
The stock price of OCL had risen 21 percent in the last one year, while in the last three months also, the stock has given returns of close to 21 percent.
The stock has risen sharply after testing a 52-week low of Rs 439 hit in November 2022.
OCL’s EBITDA for the quarter ended December 2022 stood negative at Rs. 278.00 crore up 60.96 percent from Rs. 712.10 crore in December 2021.
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