Paytm: As a result of RBI strictness, mutual funds sold a 26% stake in the company, and its shares dropped 50%
Paytm: Mutual funds have also reduced their investment in Zee Entertainment. Investment of fund houses in this stock has reduced to 71 lakh shares. Sundaram Mutual Fund and Franklin Templeton have also sold their entire stake in Zee Entertainment.
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Mutual funds have sold a 26 percent stake in One97 Communications, the parent company of Paytm Payments Bank, in response to the RBI's action against the bank.
A report claims that in January, 4.45 crore Paytm shares were held by mutual funds. It dropped to 3.28 crores at the end of February, a 26% decrease.
At the current price, the total stake is valued at Rs 1,212 crore. The hard stance taken by RBI in February caused Paytm's share price to drop by nearly half. On Monday, the company's shares did, however, close at Rs 389.40, up 5%.
Mutual funds have also reduced their investment in Zee Entertainment. Investment of fund houses in this stock has reduced to 71 lakh shares. Sundaram Mutual Fund and Franklin Templeton have also sold their entire stake in Zee Entertainment. The company also faced regulatory action recently, which put pressure on the shares.
