6 Mutual funds exited from Paytm stock

Published : 13 March 2024

Six mutual funds entirely left One97 Communications Ltd, while six substantially decreased their holdings in February. In absolute terms, MFs sold more than 91 lakh shares for Rs 380 crore. This move came after the stock had dropped significantly due to, RBI regulatory steps. 

6 Mutual funds exited from Paytm stock

Paytm shares fell more than 50% in February when the Reserve Bank of India considered canceling Paytm Payments Bank Ltd's license. 

Paytm Shares dropped by 50% in the month of February

The following mutual funds have fully sold their Paytm stock: Mahindra Manulife Mutual Fund (15.16 lakh shares), Quant Mutual Fund (6.13 lakh shares), Bajaj Finserv MF (2.1 lakh shares), JM Financial MF (1.67 lakh shares), Union MF (1.15 lakh shares), and Baroda BNP Paribas MF (17,000 shares). 

Mutual funds completely divested from Paytm

With 27.14 lakh shares valued at Rs 113 crore, Motilal Oswal MF led the selling frenzy. Aditya Birla Sun Life and Mahindra Manulife MF followed with over 15 lakh shares valued Rs 63 crore. Other mutual funds, including UTI, Franklin Templeton, Quant, and Nippon, sold shares worth around Rs 47 crore, 29 crore, 26 crore, and 16 crore, respectively. 

Other mutual funds which offloaded the Paytm shares

One 97 Communications was downgraded by Macquarie to "underperform," with a target price reduction to Rs 275 from Rs 650.

Macquarie downgraded the stock

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