Paytm share price tumbles

Around 1.6 crore shares or 2.56 percent stake of the company worth Rs 1,441 crore changed hands at an average price of Rs 884 a share.

Paytm owner One97 Communications Ltd share price tumbled almost 5 percent in the morning session on November 24 after a huge block deal. 

Around 1.6 crore shares or 2.56 percent stake of the company worth Rs 1,441 crore changed hands at an average price of Rs 884 a share, according to media reports.

At 11:12 AM, the stock was trading at Rs 898.25 per share on NSE, down Rs 25.15 or 2.72 percent.

The transaction took place at an average price of Rs 884 per share taking the total deal value to Rs 1,441 crore. The details of the buyers and sellers of Paytm shares in the block deal were not available immediately.

The stock price has rallied in 2023, up around 70 percent year-to-date with the share price doubling in the past one year period.

One97 Communications in Q2 FY24 recorded a revenue of Rs 2,519 crore, a jump of 32 per cent YoY while its earnings before interest, tax, depreciation, and amortisation (EBITDA) before ESOP cost rose to Rs 153 crore as compared to Rs 84 crore in Q1 FY24.

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