Paytm, Mobikwik shares tumble after finance ministry rules out MDR on UPI transactions

Investors sold Paytm and Mobikwik shares on Thursday, a day after the Finance Ministry denied reports of charges on UPI transactions. Paytm shares dropped 10% in trade today, before recovering later. The stock was trading 6.56% lower at Rs 897.20 as of 2:30 p.m. The company’s market capitalisation dropped as much as Rs 6,123 crore to an intraday low of Rs 55,123 crore, but later returned to Rs 57,233 crore.

Meanwhile, Mobikwik shares fell 3% to an intraday low of Rs 273.05 per share. As of 2:35 p.m., the counter was down 2.68% at Rs 273.95. The…