Shares of One97 Communications, the parent company of Paytm, increased by over 5.5% during intraday trading on Tuesday, reaching a 52-week high of 1,063 rupees (US$12.49).

This marks the second consecutive trading session where the stock has reached a new yearly high, following a peak on Monday.

Paytm’s stock has significantly recovered since it fell in May, after regulatory restrictions from the Reserve Bank of India.

Year-to-date, the stock has generated a return of 58.50%, outpacing the benchmark index, which has returned 11.82%.

Recent Paytm developments