Paytm share price
Paytm shares crash 13% after RBI restriction on payments bank
Paytm share price falls to all-time low; check latest updates on BSE, NSE
Following RBI action, brokerage ICICI Securities cut the company’s target price to Rs 1,285 a unit from the previous target price of Rs 1,352 a piece.
ICICI Securities also said recent instances of embargo on a leading bank suggest that lifting of restrictions may take time,
Paytm dropped as much as 13 per cent to Rs 672.10 before recovering to Rs 686.25 at 9.30 am. The scrip had settled at Rs 774.80
RBI directed Paytm Payments Bank (PPBL) to stop onboarding new customers, effective immediately, citing “certain material supervisory concerns
This is not the first time that Paytm is facing the banking regulator’s ire. In October,