Paytm trades lower as investors rush to profit

Shares of One 97 Communications Limited, which owns Paytm, traded 0.4 percent lower on November 16 morning as investors rushed to book profits after the stock gained almost 3 percent the previous day.

The payments major has also announced a partnership with Amadeus, a global travel technology company, to boost travel experience with artificial intelligence.

“Under this collaboration, for the next three years, the company will integrate Amadeus’s expansive travel platform, enhancing the travellers’ experience from search to booking, and finally to payment,” the payment aggregator said in an exchange filing on November 15.

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Paytm users will also gain access to a vast inventory of global flight options,
making it easier for them to find the best deals and book flights to destinations around the world, all within the app.

By harnessing Amadeus’ advanced automation and New Distribution Capability (NDC) technologies, Paytm aims to achieve precise and reliable results, establishing a consistent and robust travel shopping ecosystem, it said.

Paytm-Amadeus partnership would also ensure travellers’ access to a diverse range of payment options, including the convenience of UPI, Paytm Wallet and Postpaid, and the assurance of a safe and secure payment gateway, it said.

At 9.46 am, the stock was trading at Rs 914.20 on the National Stock Exchange, down  0.53 percent from the previous close.

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