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Paytm’s stock drops 26% in two weeks, setting a new all-time low

In spite of a generally strong market, One97 Communications’ stock dropped 10% during Tuesday’s intraday trading on the BSE. One97 Communications runs Paytm, the largest payments network in India. The stock fell below its prior low of Rs 511, which was recorded on May 12, 2022. The S&P BSE Sensex was up 0.24 percent at 10:10 a.m., whereas the stock was down 8% at Rs 492.15. The fintech company’s stock price has decreased 26% during the past two weeks. In the last year, Paytm’s stock price has more than half, or fallen 64%, compared to the benchmark index’s 4.8% gain. Currently, the price of Paytm shares is 78% less than their IPO price of Rs 2,150 per share. The stock hit a record high of Rs 1,961 on November 18, 2021, the first day it was traded.

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