Shares of FSN E-Commerce Ventures’ Nykaa and One 97 Communications, the operator of India’s largest digital payments provider, Paytm, fell 9% in intraday trade on Thursday after more than 20 million shares each appeared on their counters. Shares of stock change hands in block trades.

Shares of Paytm fell 9% to Rs 528.10 in intraday trade on the National Stock Exchange (NSE). Exchange data showed that about 30.5 million shares, or 4.7% of Paytm’s total share capital, changed hands on the NSE as of 1:53 pm. The stock has risen 22% over the past 13 trading days.

On November 17, SoftBank Group sold 29.35 million shares or a 4.5% stake in Indian digital payment giant Paytm for Rs 1,630 crore. Transaction data showed that the trade was executed at Rs 555.67 on the NSE.

Over the past year, the company’s share price has lost half of the Nifty 50’s 2.4% decline. It hit an all-time high of Rs 1,961 on November 18, 2021, and a record low of Rs 439.60 on November 18, 2021. November 24, 2022.

Meanwhile, shares of Nykaa fell 5% to Rs 147.65 in intraday trade on the NSE today. About 24.25 million shares, or 0.85% of the company’s shares, have changed hands on the NSE as of writing this report. In contrast, the Nifty 50 fell 0.57% to 17,794.

Over the past three months, the stock has fallen 28% against the Nifty 50’s gain of 3.6%. Also, over the past year, the stock has lost 55% against the Nifty 50’s gain of 2.3%. The benchmark index fell 1%. The stock hit an all-time low of Rs 139.35 on December 23, 2022.

On December 15, Kravis Investment Partners II sold 36.7 million shares in the company worth Rs 629.06 crore at Rs 171 each through open market deals, exchange data showed.

Big-ticket investors in the FPI and DII categories bought new shares in Nykaa. Goldman Sachs, Mirae Asset Mutual Fund, ICICI Prudential Life Insurance Company and Canada Pension Plan Investment Board bought a stake in FSN E-Commerce Ventures, according to the BSE block deal details.