Pine Labs, Paytm, MobiKwik Shares Slide Amid Reports Of UPI MDR Delay

Shares of fintech companies Paytm, Pine Labs and MobiKwik came under pressure today following reports that the proposed merchant discount rate (MDR) on select UPI transactions could be deferred. Paytm’s stock fell as much as 10% to an intraday low of ₹1,560.60 apiece on the BSE. As of 13:30 PM IST, the stock was trading 5.21% lower at ₹1,643 apiece, giving the company a market capitalisation of ₹1,05,416.1 Cr ($10.8 Bn).