Live news: Paytm sinks on debut, Delhi panel questions Facebook execs
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Latest live news: Digital payments start-up Paytm made one of the worst major Indian stock market debuts on Thursday as its shares fell more than 27 per cent after India’s largest-ever IPO.
Paytm’s debut rout raised questions around impending initial public offerings on the until-now red hot Indian market, including those of its smaller rival MobiKwik and hotel aggregator OYO, as valuations come under investor scrutiny, said Reuters.
Facebook executives were grilled by a Delhi panel on Thursday over hate posts linked to the February 2020 riots in the city and the action taken to remove such content. Delhi Assembly’s Peace and Harmony Committee asked Facebook India to furnish records of user complaints on content posted on the platform one month prior to two months after the Northeast Delhi riots in February 2020, according to PTI.
Tata Sons will pay $19 million (Rs 142 crore) to buy AirAsia Berhad’s residual 16.33 per cent stake in their joint venture AirAsia India, moving to consolidate its airline business after buying India’s state-owned carrier. The group bought Air India in October, has a 51 per cent stake in Tata Sia Airlines and has Air India Express, a no-frill airline, as well.
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