India, Oct. 8 -- 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 Rs.1,560.60 apiece on the BSE. As of 13:30 PM IST, the stock was trading 5.21% lower at Rs.1,643 apiece, giving the company a market capitalisation of Rs.1,05,416.1 Cr ($10.8 Bn).

Pine Labs was trading 4.3% lower at Rs.169.90 apiece, with a market capitalisation of Rs.19,619.18 Cr ($2 Bn).

MobiKwik, meanwhile, was trading 5.7% lower at Rs.241.25 apiece, with a market capitalisation of Rs.1,899.7 Cr ($196.3 Mn).

The sell-off comes amid reports that the rollout of MDR on se...