Mumbai/IBNS, June 9 -- Shares of One97 Communications, the parent company of Paytm, surged on Tuesday following reports that the fintech major plans to hire around 4,000 employees as part of its expansion strategy focused on artificial intelligence (AI) and merchant services.

The benchmark Nifty 50 index was up 0.28 percent during the session.

Expansion Plans

According to a Bloomberg News report, Paytm is looking to increase its workforce by about 10 percent over the coming months.

The company currently employs around 40,000 people and is expected to recruit talent across product, technology and AI teams.

At the same time, Paytm is reportedly planning to trim about 1 percent of its workforce following its latest appraisal cycle as pa...