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Paytm shares down for eighth straight day; slide 51% against issue price

The company stood at 77th position in the overall market cap ranking, the BSE data showed.

Photo: Bloomberg
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Photo: Bloomberg

SI Reporter Mumbai
Shares of One97 Communications, the parent company of digital payments major Paytm, hit a new low of Rs 1,063.75, falling 51 per cent against its issue price of Rs 2,150 on the BSE in Thursday’s intra-day trade.

The stock is quoting lower for the eighth straight trading day, having fallen 21 per cent during this period. It had made its market debut on November 18, 2021.

A sharp fall in the stock price has seen the company lose market capitalisation of Rs 70,418 crore from Rs 1.39 trillion on its issue price. Paytm’s market capitalisation hit a low