Paytm Shares Decline After Large Trade

Shares of One97 Communications Ltd., the parent of Paytm, have declined the most since Nov. 22, after a large trade.

At least 2.15 crore shares changed hands in at least one bunched trade, according to Bloomberg.

Shares of the company closed 7.85% lower at Rs 650.55, compared to a 0.21% decline in the benchmark Nifty. The total traded quantity stood at 6.1 times the 30-day average. The relative strength index stood at 63.

Of the 12 analysts tracking the company, nine recommended a 'buy' rating and three suggested 'hold,' according to Bloomberg data. The 12-month consensus price target implies an upside of 41.2%.