Paytm’s stock drops 26% in two weeks, setting a new all-time low

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Shares of One97 Communications, which operates India’s largest payments platform Paytm, fell 10% on the BSE in Tuesday’s intraday trading in an otherwise firm market. The stock dropped below its previous low of Rs 511, which was reached on May 12, 2022.

At 10:10 a.m., the stock was trading 8% lower at Rs 492.15, while the S&P BSE Sensex was up 0.24 percent. The stock of the fintech company has dropped 26% in the last two weeks. Paytm’s stock price has more than halved or dropped 64% in the last year, compared to the benchmark index’s 4.8% gain. Paytm shares are currently trading 78% below their IPO price of Rs 2,150 per share. On its first day of trading, November 18, 2021, the stock reached a record high of Rs 1,961.

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Paytm’s stock drops 26% in two weeks, setting a new all-time low

Shares of One97 Communications, which operates India’s largest payments platform Paytm, fell 10% on the BSE in Tuesday’s intraday trading in an otherwise firm market. The stock dropped below its previous low of Rs 511, which was reached on May 12, 2022.

At 10:10 a.m., the stock was trading 8% lower at Rs 492.15, while the S&P BSE Sensex was up 0.24 percent. The stock of the fintech company has dropped 26% in the last two weeks. Paytm’s stock price has more than halved or dropped 64% in the last year, compared to the benchmark index’s 4.8% gain. Paytm shares are currently trading 78% below their IPO price of Rs 2,150 per share. On its first day of trading, November 18, 2021, the stock reached a record high of Rs 1,961.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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