Paytm hits over 8-month low; stock tanks 38% from its 52-wk high of October

Shares of One97 Communications, which owns fintech player Paytm, slipped 3 per cent to hit the lowest level in over eight months on Wednesday. The stock fell to Rs 596.85 on the BSE, its lowest level since March 22, 2023.

The stock of the fintech firm has remained under pressure since it announced it will scale down small-ticket size loans, especially, those below Rs 50,000.

Thus far in the month of December, the market price of Paytm has tanked 29 per cent. While, it has corrected 38 per cent from its 52-week high level of Rs 998.30 touched on October 20.