Union Budget 2026: Paytm shares rise 9%. This is what is driving the rally

One 97 Communications, which operates fintech platform Paytm, saw its shares rise 9% to hit an intraday high of Rs 1,244.05 on the BSE in an otherwise weak trading session. The price action was accompanied by strong volume, which rose 1.5 times on the BSE. The rally is believed to be due to a stimulus allocation of Rs 2,000 crore for UPI and RuPay in Budget 2026. This is 4.6 times the allocation made by the government in Budget 2025.

Commenting on the development, Anup Agarwal, co-founder of Kiwi, said this move reinforces the importance of a sustainable digital payments ecosystem. “As UPI continues to expand across transactions and use cases, NPCI’s role in maintaining interoperability, reliability and low-cost access remains central. Sustained incentives are critical to maintain this affordability while enabling responsible innovation across the ecosystem,” he added.Read more: Budget 2026: real estate shares fall by up to 10% due to budget miss; REITs rise to 3%

At Kiwi, we see this as a strong foundation for bringing transparent and responsible credit on top of trusted payment rails to improve access and affordability for everyday consumption, Agarwal said.

While the FY27 BE is lower than the revised estimates (RE) of Rs 2,196 crore.

It was Finance Minister Nirmala Sitharaman’s ninth consecutive Union Budget.

This was only the second instance in the history of Independent India when the stock markets were open for trading. The last time they were open on Sundays was February 28, 1999, under the Atal Bihari Vajpayee government.

The financial services technology platform reported a consolidated net profit of Rs 225 crore in the third quarter. This compares to a loss of Rs 208 crore in the year-ago period. On a sequential basis, profits rose 971% from Rs 21 crore in the previous September quarter.

Revenue from operations in the period under review rose 20% year-on-year to Rs 2,194 crore. On a sequential basis, revenues improved 6% quarter over quarter.

Also read: Budget 2026: PFC and REC rise to 6% after FM Sitharaman announces restructuring

(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)