Paytm shares plunge 13.61% below IPO price on listing, market cap at Rs 1.20 lakh crore

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Shares of Paytm parent One97 Communications fell 13.61% over the IPO price of Rs 2,150, ascribing a market cap of Rs 1.20 lakh crore. Macquarie has initiated coverage of the Paytm stock at "underperform" with price target of Rs 1,200.

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