Paytm Shares Hit 52-Week High After NPCI UPI Policy Change
One 97 Communications shares surged to a 52-week high after the NPCI introduced new merchant fees for high-value UPI transactions.
Shares of One 97 Communications, the parent company of Paytm, reached a 52-week high of ₹1,855.50 on the National Stock Exchange on September 16, 2026. The surge followed a policy announcement by the National Payments Corporation of India regarding the Unified Payments Interface (UPI) framework.
The National Payments Corporation of India introduced a Merchant Discount Rate of up to 0.4 per cent on UPI Person-to-Merchant transactions that exceed ₹2,000. While the policy ensures that UPI payments remain free for consumers, the new charges will apply to merchants starting October 15, 2026.
Analysts from Goldman Sachs, Citi, and JPMorgan expect the change to create a significant revenue tailwind for One 97 Communications, which currently manages 1.51 crore device merchants. Goldman Sachs specifically estimated that the new fee structure could provide a 40-70 per cent upside to the company's FY28 EBITDA.
Keep reading in the app
The full story and every source, free in the app.
Coming soonGoogle Play