Mutual Funds Make Bold Move: Paytm Holdings Hit Record High Amid Retail Retreat

Paytm Holdings Surges in Mutual Funds to Record High

In a significant development, Indian mutual funds raised their holding in the Paytm-owned One97 Communications, parent of the digital payments and e-commerce firm, to a record 11.2% at the end of the December quarter from 7.86% in September. The increase is the result of growing institutional confidence despite a lacklustre market, with retail investor participation plummeting to 10.98%. Apart from Nippon and Mirae Asset, other big mutual fund players also increased their stakes. Foreign portfolio investors slightly increased their holdings as well. Paytm's shares jumped by a great 47% in the last quarter, even reaching ₹1,062.95, even though recent corrections came after market analyses.

Source: CNBC TV18, Economic Times, ANI News