Paytm stocks pare early gains; settle over 3% lower

New Delhi: Shares of Paytm's owner One97 Communications on Thursday ended lower with a discount of more than 3 per cent, giving up all the gains after the troubled fintech company said it will sell its entertainment ticketing business to Zomato.

On the BSE, the scrip of the company plunged 3.33 per cent to close at Rs 554 apiece.

Stock of One97 Communications fell 3.14 per cent to end at Rs 556 per piece on the NSE.

In the intraday trade, shares of the Noida-based fintech firm declined over 6 per cent to hit a low of Rs 537.95 and 538.35 per piece on the BSE and NSE, respectively.

In terms of volume, 2.11 crore equity shares of One97 Communications were traded on the NSE and 12.11 lakh shares exchanged hands on the BSE during the day.

In addition, scrip of Zomato went down nearly by 1 per cent to close at Rs 257.85 and 257.80 per share on the NSE and BSE, respectively.

The 30-share BSE Sensex rose 147.89 points or 0.18 per cent to close at 81,053.19 and the NSE Nifty went up by 41.30 points to end at 24,811.50.

On Wednesday, One97 Communications said it will sell its entertainment ticketing business to Zomato for Rs 2,048 crore.

Entertainment ticketing business, including movies, sports and events, will be available on the Paytm app during a transition period of up to 12 months, it said.

The deal, valued at Rs 2,048 crore, underscores the value that Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale, the company added.