On Monday, there was a 5% increase in the price of Indian payments company Paytm’s stock after the central bank of the nation gave its banking division more time to shut down, and the company teamed up with Axis Bank to try to maintain some of its well-liked products. The stock reached 358.35 rupees, the upper trading limit. On Friday, the Reserve Bank of India (RBI) gave Paytm Payments Bank until March 15 instead of February 29 to cease taking new deposits into its wallets or accounts.

According to Bernstein analysts, the deadline extension will allow for a “smooth transition” to transfer Paytm Payments Bank accounts. As part of its efforts to address the current crisis, Paytm signed up Axis Bank as a new banking partner on Friday to maintain some of its well-liked products.

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Brokerage Citi noted that despite keeping its “Sell” rating and 550 rupee price target on the stock, the company will likely pursue more of these partnerships because it sees them as “significant positives for ongoing business.”

Bernstein called it a “huge plus” that merchants can use Paytm QR codes, soundboxes, and card machines if they are connected to bank accounts other than Paytm Payments. Since the RBI’s order against Paytm Payments Bank on January 31, brought about by what the central bank officials described as persistent non-compliance with regulations, Paytm shares have dropped 53%. The stock market meltdown has reduced shareholders’ wealth by 255.74 billion rupees ($3.08 billion).

Based on LSEG data, analysts generally assign a “Hold” rating to Paytm. For the first time in at least a year, there are five “Sell” or “Strong sell” recommendations for the stock. $1 is equal to 82.9880 Indian rupees. (Reporting from Bengaluru by Nandan Mandayam; editing from Rashmi Aich and Sonia Cheema).