Shares of One97 Communications (Paytm) on Monday dropped as much as 6.4 per cent after the Enforcement Directorate conducted searches at its offices in a case pertaining to irregularities at lending applications controlled by Chinese entities.
Its stock dropped to an intraday low of Rs 681.2 before closing at Rs 708.6, down 2.6 per cent over its previous day’s close.
By comparison, the benchmark Sensex rose 0.8 per cent.
In a statement, Paytm has said it is “supporting law enforcement agencies that are investigating a specific set of merchants”.
