The US-based mutual funds T Rowe Price and Vanguard have respectively lowered the valuation of two of India’s most important internet companies- Paytm, the lead in mobile-payments, and Ola, which is one of the best ride-sharing company. COVID-19 damaged their business in the first half of the year. As of June 2020, T Rowe Price which invested $150 million in Paytm cuts the share value by 26%. Ola’s business also faced a steep downfall with its share valuation reducing to 50% by Vanguard.
