Mumbai: Shares of One97 Communications, which operates under Paytm The brand closed at Rs 477, down 11% at the end of Tuesday’s trade. BSE After a research report, it was said that the company’s entry will shock the company. Reliance Jio in the financial services sector. Paytm lost market cap of around Rs 4,000 crore and is now valued at Rs 30,971 crore.
Paytm had earlier valued itself at Rs 1.4 lakh crore. IPO, The research report has come at the wrong time for the Paytm stock, which is witnessing selling pressure from pre-IPO investors due to the end of one-year lock-in.
“RIL has in the past demonstrated its appetite for large scale acquisitions in other businesses and, in our view, could pose a significant growth and market-share risk to players Bajaj Finance and Paytm.
Shares of twin companies Bajaj Finance and Bajaj Finserv Flat finished on Tuesday.
Paytm had earlier valued itself at Rs 1.4 lakh crore. IPO, The research report has come at the wrong time for the Paytm stock, which is witnessing selling pressure from pre-IPO investors due to the end of one-year lock-in.
“RIL has in the past demonstrated its appetite for large scale acquisitions in other businesses and, in our view, could pose a significant growth and market-share risk to players Bajaj Finance and Paytm.
Shares of twin companies Bajaj Finance and Bajaj Finserv Flat finished on Tuesday.