Paytm plunges 9% intra-day as Ant Financial sells stake

Shares of Paytm slumped close to 9% in intra-day trade on Thursday, after Alibaba group affiliate Ant Financial sold a 3.1% stake in the parent company One97 Communications.

According to reports , the Chinese firm sold around 20 million shares via a block deal for $125 million. The stock finally closed at Rs 542.25 on the BSE, down 6.43%, and Rs 543.50 on the NSE, down 6.16%. It is still trading up 23% from its 52-week low of Rs 439.60 recorded on November 24, according to BSE data.