Paytm’s share price surged over 5% on the back of a deal with Zomato for its ticketing business. Zomato’s shares also gained 2% following the announcement.
The deal will allow Paytm to sell tickets on Zomato’s platform, expanding its reach and customer base. This partnership is expected to boost Paytm’s revenue and growth prospects.
The stock market reacted positively to the news, with Paytm’s shares jumping 5.4% to Rs 1,184.20 on the BSE. Zomato’s shares also rose 2.2% to Rs 146.10.
This partnership is seen as a strategic move by both companies to expand their offerings and reach new customers. Paytm’s ticketing business will benefit from Zomato’s vast user base, while Zomato will gain from Paytm’s expertise in payments and ticketing.
The deal is expected to drive growth for both companies and create a win-win situation. The stock market’s positive reaction reflects investor optimism about the partnership’s potential benefits.
Overall, the partnership between Paytm and Zomato is a significant development in the fintech and foodtech space, and is expected to yield positive results for both companies.