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Paytm shares hit fresh low, drop below Rs 800-mark for first time

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Paytm shares hit fresh low, drop below Rs 800-mark for first time

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Paytm share price: The stock of One97 Communications has hit a series of lows in the recent past. On Tuesday, Paytm shares dropped below the Rs 800 mark for the first time.

Paytm shares hit fresh low, drop below Rs 800-mark for first time
Paytm parent One97 Communications' shares hit a new 52-week low on Tuesday, sliding below the Rs 800-mark for the first time.
The latest slide in the digital payment services company's stock adds to the worries of investors, as the digital services firm's stock changed hands at a discount of 63.6 percent to its issue price.
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.
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Paytm shares debuted on stock exchanges BSE and NSE in November 2021. Its mega IPO saw a tepid response from investors.
Last week, Paytm said its gross merchandise value (GMV) processed through its platform came in at Rs 83,481 crore in January 2022, as against Rs 41,000 crore in the corresponding period a year ago.
GMV is a metric that indicates the total monetary value of merchandise sold through a marketplace. 
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.
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