Shares of One 97 Communications, the company that owns Paytm, fell more than 11% and reached a new one-year low on Tuesday after Macquarie analysts said Jio Financial Services might be a "major concern" for the company that handles digital payments. Recently, Reliance Industries (RIL) declared that it would demerge and rename its financial services division Jio Financial Services (JFS).
Paytm today fell as much as 11.54 percent, setting a new record low on the BSE of Rs 474.30. At Rs 477.10, the stock ultimately closed today 11.02 percent down. The stock has previously reached an all-time low of Rs 511 (May 12).
A total of 14.52 lakh shares were exchanged for a total transaction value of Rs. 71.63 crore. The company's market capitalization (m-cap), which peaked at roughly Rs 1.2 lakh crore, was Rs 30,971.21 crore, down Rs 89,000 crore from that amount.
In the previous five trading sessions, the stock fell more than 21%. In terms of the entire year (YTD), it has decreased by almost 64%.
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