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PAYTM IGNITES $6 BN TARTUP S RALLY WITH STRONG PERFORMANCE
The Business Guardian
|June 22, 2023
$6 billion surge in India’s Internet consumer market, Boosting competitors and Market values
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India’s objective to establish a market for internet firms targeting consumers has regained momentum, thanks to Paytm’s remarkable performance. As the leader in digital payments, Paytm has spearheaded a $6 billion surge among its competitors this year. One 97 Communications Ltd., the parent company of Paytm, experienced a 69% rise in its share price, resulting in a $2.7 billion boost in market value, fueled by an earlier-than-anticipated improvement in profitability. Similarly, Zomato Ltd., a food delivery platform, and PB Fintech Ltd., the operator of Policybazaar, have witnessed respective increases of 28% and 47%, contributing over $1 billion to the market value of each company.
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