Paytm shares tank 10% after 2-day breather
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New Delhi: Shares of One97 Communications Ltd, which owns the Paytm brand, fell by 10 per cent to hit lower circuit limit on Thursday, after a two-day rally in the stock fizzled out. Despite a firm beginning, the stock tanked 9.99 per cent to Rs447.10 -- its lower circuit limit -- on the BSE. On the NSE, it tumbled 9.99 per cent to Rs446.65 -- its lowest trading permissible limit for day. The company’s market valuation eroded by Rs3,153.18 crore to Rs28,394.44 crore. In traded volume terms, 22.79 lakh shares of the company were traded on the BSE and over 2.12 crore shares on the NSE during the day.
Shares of One97 Communications Ltd had climbed 10 per cent on Wednesday and rebounded over 3 per cent on Tuesday after three days of sharp fall. From February 1-5 (three days of trading), the company’s stock tumbled over 42 per cent, wiping out Rs 20,471.25 crore from its market valuation, following the Reserve Ban of India’s crackdown.
