Paytm shares slide on alleged ED investigation on crypto scam

Paytm’s share price saw a v-shaped recovery after falling as much as 9% to Rs 773.05. The fall in stock prices came on news reports saying that ED is investigating Paytm over a crypto scam. The fall in stock price came around 10.10 am but soon pared most of its losses to trade around 2% lower at Rs 833.

However, the company has denied any notice from ED about the matter. A press release from One97 Communications read, “We confirm that we have not received any such new notice, communication, or query from the Enforcement Directorate regarding the matter mentioned in the media articles.