Paytm stock price down by more than 6% today.

10 Feb 2023 , 12:26 PM

Shares of One 97 Communications fell more than 8% on February 10 following large block trades on the bourses, according to CNBC-TV18.

However, it was on a four-day winning streak till Thursday, thanks narrowing down of losses in the December quarter. Major global brokerages turned bullish and raised target prices on the stock.

A total of 2.1 crore Paytm shares, representing a 3.4% stake in the company, were traded in a block deal. The buyer and seller could not be identified right away.

The Paytm parent company released its quarterly results earlier this week. Revenue increased 41% year on year to Rs2,062 crore in the December quarter, while net loss shrank to Rs 392 crore.

Its merchant subscriptions totaled 5.8 million, up from 3.8 million the previous year. The number of merchants paying subscriptions increased by one million over the course of the year.

At around 12.23 PM, Paytm was trading 6.37% lower at Rs 661, against the previous close of Rs 705.95 on NSE. The counter touched an intraday high and low of Rs 705 and Rs 640 respectively.

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