Nykaa, Paytm, Zomato: Canadian FPI-held stocks take a hit on widening rift

Rising diplomatic tensions between India and Canada is reaching Dalal Street too with concerns that the standoff may impact Canadian investment in the Indian markets.

Stocks held by Canada Pension Plan Investment Board (CPPIB), which is among the biggest FPIs investing in the domestic market, have come under pressure since developments on the India-Canada tensions unfolded on Monday night.

Shares of new-age startups including Nykaa, Paytm, Zomato and Delhivery lost 1-5 per cent in the last two sessions. In this order, CPPIB holds 1.47 per cent, 1.76 per cent, 2.37 per cent and 6 per cent stake, respectively, in these stocks. Its cumulative stake is valued at around Rs 5,566 crore in these 4 new age companies.