US funds lower valuation of Paytm, Ola due to COVID-19
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United States-based mutual funds have reportedly lowered the valuation of the mobile payments app Paytm and the cab-hailing platform Ola as the coronavirus pandemic disrupted their businesses. Reportedly, the markdowns come from mutual funds holding about 1% stake in both the companies, according to The Times of India. Paytm has said that the June valuation is dated when the markets were "extremely volatile."