Paytm shares fall 2% as investors remain cautious; discount to issue price at 64%

New age stocks rebound, Zomato, Nykaa rally over 5%, Paytm up 2%; should you add?

Earlier on Feb 24, Paytm shares hit a new 52-week low, trading at Rs 771.15. Stocks of new-age businesses such as Paytm have seen a series of losses in the past few months, mirroring the trend on the Nasdaq, where investors have lost appetite for highly valued tech and platform companies.

In the upcoming semi-annual index reviews, newly listed stocks Zomato, One97 Communications (Paytm), FSN E-Commerce Ventures (Nykaa) will be included in the Nifty Next 50 index. The revised list, which will be effective from March 31, also includes SRF, Indian Oil and Mindtree, which may see inflows of $47 million, $40 million and $33 million, respectively.

Earlier, One 97 Communications reported a consolidated net loss of Rs 778 crore for the third quarter of the current financial year. For the corresponding period a year ago, it had posted a net loss of Rs 482 crore.

However, its quarterly revenue from operations climbed 89 percent on a year-on-year basis to Rs 1,456.1 crore, driven by growth in merchant payments, new device subscriptions and loan disbursements.