Paytm's Indian investors hold over 56% stake as domestic ownership rises

One97 Communications reported movement of 56% and 50% for FY26. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

Against that, the stock is -3.1% on the day at ₹1,634.30, and has returned +22.6% over three months. It sits 12% below its 52-week high. The financial services sector has moved -14.9% over the same period, so One97 Communications is running 37.5 points ahead of its peers.

For One97 Communications, the question is how much of this is already reflected in the price and how much re-rates the financial services peer set alongside it.