An action by RBI has taken a heavy toll on Paytm’s parent company One97 Communications. There has been a lower circuit of 20 percent in the company’s shares. Due to which the valuation of the company has reduced by about Rs 9700 crore. In fact, this fall in Paytm’s stock has come after the Reserve Bank of India banned Paytm Payments Bank Limited from accepting deposits or top up in Fastag on any customer account, wallet after February. Let us also tell you what kind of figures are being seen for the shares of One Communication i.e. Paytm.
Over circuit of 20 percent in the company’s shares
Paytm’s shares have hit a lower circuit of 20 percent. Due to which the company’s shares came to Rs 608.80 on BSE. Whereas a day earlier the company’s shares had closed at Rs 761. The special thing is that the company’s 52-week high came on October 20. That day the company’s shares had come to Rs 998.30. Nearly 100 days have passed since then. During this period the company’s shares have fallen by 39 percent. Further decline in the company’s shares is likely to be seen in the coming days.
Foreign brokerage companies downgraded
Global broking firm Jefferies has downgraded Paytm’s shares to Rs 500. Jefferies analyst Jayant Kharote said that the impact on Paytm’s business will be seen to a large extent. Fejriz said that RBI’s action will directly affect the profitability of wallet business and other types of facilities. According to experts, due to the fall in the company’s shares, the company’s shares may go below Rs 500.
The company suffered a loss of about Rs 9700 crore.
Due to the fall in the shares of Paytm’s parent company One97 Communications, there has also been a huge decline in the valuation. According to the data, after the stock market closed on Wednesday, the valuation of the company was Rs 48,329.61 crore, which has come down to Rs 38,663.69 crore today. This means that there has been a decline of Rs 9700 crore in the valuation of the company.