Shares of One 97 Communications fell 5% after ED questioned Paytm Payments Bank officials over alleged FEMA violations. Paytm has lost 57% in value since RBI banned the payments bank. Macquarie sees stock slumping to Rs 275, says Suresh Ganapathy.
Global broking firm Macquarie, which has shared a love-hate relationship with Paytm stock, has downgraded the new-age stock to underperform with a target price going as low as Rs 275.
Paytm Payments Bank banned from accepting deposits! Understand the impact on your Paytm wallet, investments, and future transactions. Know potential alternatives and how to protect your money. #RBI #Paytm #payments #India ➡️ Read more for full details.
RBI imposes restrictions on Paytm Payments Bank, leading to downgrades by brokerages like Jefferies. Jefferies cuts target price to Rs 500 per share, citing reputational risks. Macquarie highlights serious implications of RBI ban on Paytm s ability to retain customers and sell payment and loan products. Paytm clarifies that user deposits are not impacted, but wallet and merchant payments business will be affected. Founder Jefferies cuts Ebitda estimates by 45% and expects delayed profitability.
The RBI has banned Paytm Payments Bank from accepting deposits and onboarding new users. Here's what you need to know about withdrawing your money and alternative options.