Paytm hits new all-time low, stock tanks 26% in two weeks

Shares of One97 Communications, which operates India’s largest payments platform Paytm, hit a new low of Rs 483.30 as they slipped 10 per cent on the BSE in Tuesday’s intra-day in an otherwise firm market. The stock fell below its previous low of Rs 511, touched on May 12, 2022.

At 10:10 am, the stock traded 8 per cent lower at Rs 492.15, as compared to 0.24 per cent rise in the S&P BSE Sensex. In the past two weeks, the stock of the fintech company has tanked 26 per cent. In the last one year, the stock price of Paytm, more-than-halved or plunged 64 per cent, as against 4.8 per cent gain in the benchmark index.