Paytm investors’ Babu Rao moment and Akasa takes a lead over Jet

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Editor's note: This is Street Smart, The Morning Context’s weekly newsletter on everything that impacts corporate India. Every Thursday, Street Smart will bring you an original, reported or analytical take on issues that have the potential to shake up the business ecosystem. Advait here. As Paytm’s stock fell by a quarter on its debut on the exchanges earlier today, I couldn't help but think of Babu Rao, the hapless landlord played by Paresh Rawal in Hera Pheri. He got zero rent from his tenants, who nearly always took him for a ride. The Paytm investor, it looks like, is in for a similar ride. Elsewhere, Jet Airways’s flight seems to be taking forever even as Akasa Air has cleared some important milestones this week. Put on your seat belts and read on.   Who is betting on Paytm for the long haul?  There were tears of joy on Vijay Shekhar Sharma’s face as he reflected on the 11-year journey it took to build Paytm, just before its public debut on the stock exchanges on Thursday. At a Rs 1.5 lakh crore, or $20 …