Paytm recovered from early losses to soar over 8% from its previous close. Ever since its listing, the stock lost around 50% of its market capitalization.
Moreover, the brokerage firm Macquarie has downgraded its rating and also cut its target price to Rs. 900. The US Fed’s indication of early rate hikes and tightening of liquidity also impacted technology companies like Paytm across the world. This also affects the trade in this stock.