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Paytm Continues To Bleed: Shares Fall Another 2% To Hit Fresh Record Low

Inc42 · 1y ago

Paytm Continues To Bleed: Shares Fall Another 2% To Hit Fresh Record Low

Paytm shares dropped by 2% on Friday, hitting a new record low of INR 318.35 on the BSE. Over the past month, the stocks have fallen nearly 55%, losing around INR 27,000 Cr in just 11 trading days. This decline has been attributed to the regulatory action on Paytm Payments Bank, which has been barred from processing banking services and transactions. The Reserve Bank of India has also asked for an investigation into suspected breaches at Paytm Payments Bank.

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Paytm Shares Hit New Record Low To Touch INR 342.4 Amid Regulatory Crisis

Inc42 · 1y ago

Paytm Shares Hit New Record Low To Touch INR 342.4 Amid Regulatory Crisis

Paytm shares hit a fresh record low, slumping almost 10%, amid ongoing regulatory turmoil in Paytm Payments Bank. Brokerage Macquarie downgraded the stock to 'underperform' and lowered the price target, citing the risk of customer exodus. The RBI's clampdown on Paytm Payments Bank has barred the company from deposits or credit transactions, with no room for review, causing the shares to decline over 50% in the past two weeks. Paytm shares were trading 9.5% lower at INR 344.1 on the BSE.

₹1 lakh invested in Paytm on day of its market debut now worth ₹20,000

Inshorts · 1y ago

₹1 lakh invested in Paytm on day of its market debut now worth ₹20,000

Shares of Paytm parent One97 Communications hit record low of ₹380 on Tuesday. An investment of ₹1 lakh in Paytm shares on the day of its market debut is now worth approximately ₹20,000, Times Now reported. Paytm made market debut on November 18, 2021. Its shares were listed at ₹1,950 on the bourses compared to the issue price of ₹2,150.

Paytm shares hit fresh lows as Macquarie sees 'arduous' path for payments firm

VCCircle

VCCircle · 1y ago

Paytm shares hit fresh lows as Macquarie sees 'arduous' path for payments firm

Paytm's shares hit a new record low as Macquarie warns of the challenges the Indian payments firm faces in shifting customers to other banks before the central bank-set deadline. The Reserve Bank of India (RBI) ordered Paytm Payments Bank to shut down most of its business by the end of February due to non-compliance. Paytm has lost nearly 50% of its market value since then. Macquarie expects prices to drop another 28% and warns of the risk of customer exodus and declining lending business revenue.

Paytm shares turn into bottomless pit as stock tanks another 5% to new low

Economic Times

Economic Times · 1y ago

Paytm shares turn into bottomless pit as stock tanks another 5% to new low

Shares of One 97 Communications, the parent company of Paytm, dropped 5% to a fresh record low of Rs 325.30 on BSE following the investigation by the Directorate of Enforcement (ED) into alleged violations of Foreign Exchange Management Act (Fema). Paytm has lost approximately Rs 27,000 crore, or 57% of its value, in the last 11 days. Experts advise retail investors to avoid the stock until regulatory hurdles are resolved. Macquarie predicts the stock could decline to as low as Rs 275.

Paytm Payments Bank Does Not Undertake Foreign Remittances: Paytm On Report Of FEMA Violations

Inc42 · 1y ago

Paytm Payments Bank Does Not Undertake Foreign Remittances: Paytm On Report Of FEMA Violations

Paytm has clarified that its banking unit, Paytm Payments Bank, does not undertake outward foreign remittances, in response to reports of the Enforcement Directorate (ED) registering a case of forex violations against the company. Paytm also stated that it continues to cooperate with authorities by providing information and documents as required. The ED had sought information on previous overseas transactions conducted by Paytm Payments Bank during a preliminary examination. Paytm's shares have plummeted to a record low following regulatory actions from the Reserve Bank of India.

Paytm Shares Continue To Bleed, Tanks Over 4% On Friday

Inc42 · 1y ago

Paytm Shares Continue To Bleed, Tanks Over 4% On Friday

Paytm shares dropped over 4% on Friday, reaching INR 339.00 per share. At 11:00 AM on Friday, the shares were trading at INR 340.15, down from the previous close at INR 356.20. This is significant as it is Paytm's first quarterly result following the Reserve Bank of India's (RBI) imposed restrictions on Paytm Payments Bank.

SUGAR Fosters Ties With Unicommerce To Boost Upselling, Cross-Selling Networks

Inc42 · 8m ago

SUGAR Fosters Ties With Unicommerce To Boost Upselling, Cross-Selling Networks

BPC startup has partnered with Unicommerce to improve its return order processes by using the omnichannel retail management system. The collaboration will also enable BPC to offer "ship-from-store" service to its customers. This partnership was announced one day after Unicommerce's shares hit a record low of INR 175.75.

Paytm hits lower circuit for third straight session, wipes out $2.5 bn in market cap

VCCircle

VCCircle · 1y ago

Paytm hits lower circuit for third straight session, wipes out $2.5 bn in market cap

Indian digital payments firm Paytm has seen its shares drop for a third consecutive session, resulting in a $2.5 billion decrease in market value. This decline follows a regulatory crackdown by the Reserve Bank of India (RBI) last week, which led to uncertainty surrounding Paytm's business operations. The RBI instructed Paytm Payments Bank to cease accepting fresh deposits in its accounts and digital wallets from March. The RBI alleged non-compliance with regulations related to customer due diligence, use of funds, and technology infrastructure. Paytm's stock fell by 10% on the Bombay Stock Exchange, reaching a record low. The RBI has passed information to the Enforcement Directorate, hinting at concerns of potential money laundering activities.

Rupee breaches 83.58/$ level, ends at fresh record low

VCCircle

VCCircle · 1y ago

Rupee breaches 83.58/$ level, ends at fresh record low

The Indian rupee hit a new record low against the US dollar on Thursday, reaching 83.6650 before closing at 83.6425. The currency has been under pressure due to expected outflows and strong demand for dollars from local importers. In addition, a stronger dollar and weakness in the Chinese yuan also contributed to the rupee's decline. Despite strong economic growth in India, the rupee has been hovering around record lows due to equity outflows and corporate dollar demand. The central bank has been attempting to support the currency within a tight range but was absent from the market on Thursday, allowing the rupee to fall.

Yudiz Solutions shares slide 5 percent to hit a fresh 52-week low

Inshorts · 5m ago

Yudiz Solutions shares slide 5 percent to hit a fresh 52-week low

Shares of blockchain and IT development company Yudiz Solutions plunged 5 percent to hit a fresh 52-week low of ₹48.65 during the intraday trading session on the NSE on February 18. At the time of writing, the stock recouped some of its losses and was trading 2.4% lower from the previous close of ₹51.20 apiece on the NSE.

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