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The Economic Times
The Economic Times
Debaroti Adhikary

Paytm shares crash 10%, wipe off Rs 10,970 crore from m-cap. More pain ahead?

Paytm UPI Debaroti Adhikary Sudeep Shah Pine Labs SEBI

Shares of Paytm-parent One 97 Communications wiped off more than Rs 10,970 crore from its market capitalisation on Thursday as the stock briefly crashed 10% after reports of a possible delay in the introduction of Merchant Discount Rate (MDR), with analysts highlighting key technical levels to watch out for.

Paytm shares dropped to Rs 1,558.80 apiece on NSE in the early trading hours, marking the lowest level seen by the stock since mid-August. The sharp selloff pushed the fintech firm’s market capitalisation below the Rs 1 lakh crore mark.

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