Shares of Paytm (One97 Communications) declined almost 5% in trade today after surging over 13% in trade on Friday, August 30. Profit booking from traders and investors led to the decline in the stock price today. As of 12:30 PM, Paytm share price was down 3.98% at Rs 587.15 on the NSE.
Shares of Paytm surged last week after receiving nod from the Ministry of Finance for a ‘downstream investment’ in Paytm Payments Services from parent company One97 Communications.
The decline in the Paytm shares today is also in anticipation or run up to a large block deal expected in the stock, as suggested by CNBC-TV18 in its report on Friday, August 30. Shares of Paytm have been on a roller coaster ride ever since the company faced ban from the regulator over several issues.
