Shares of parent One97 Communications recovered on Tuesday after two days of decline. The stock rose 4.11% to Rs 1,416 on BSE at 10:20 am.
The company’s shares closed at Rs 1,360 on Monday.
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On Monday, the company’s shares extended their losses, reducing its market cap to less than Rs 1 lakh crore ($13.45 billion). The stock fell 18.72% to Rs 1,271.25 on the BSE before ending some losses lower by 13.03% at Rs 1,360.30.
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This gave Paytm a market cap of Rs 88,184.67 crore compared to an IPO valuation of around Rs 1.50 lakh crore.
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