Worst day for Paytm shares in nearly three months; what triggered the slide
Paytm parent One97 Communications shares nosedived on Friday, halting a one-sided rally helped the stock grow nearly 36 per cent in value in four back-to-back sessions, after news agency ANI reported Chinas Alibaba sold its entire stake in Paytm. The Paytm stock finished the day 9.4 per cent lower at Rs 645.4 apiece on BSE - its biggest fall since November 22, 2022.
Paytm parent One97 Communications' shares nosedived on Friday, halting a four-day rally that helped it grow almost 36 per cent in value in just four sessions, after news agency ANI reported China's Alibaba sold its entire stake in Paytm.
The Paytm stock finished the day with a loss of Rs 62.4 or 8.8 per cent at Rs 650.2 apiece on BSE — its biggest single-day fall in percentage terms since November 22, 2022. Paytm shares fell by as much as Rs 67.2 or 9.4 per cent to Rs 645.4 apiece on BSE during the session.
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