India Business News: Paytm share price today: Shares of One 97 Communications, the parent company of Paytm, have dropped by up to 9% on the Bombay Stock Exchange due to th
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.
Macquarie suggested a target of Rs 180 in its bear case scenario that factored in a 75 per cent decline in distribution revenues against 60-65 per cent fall in its base case.
Macquarie said its target cut on Paytm was driven by a sharp reduction in revenues across various segments. Post the recent regulatory changes and diktats, Paytm now faces a serious risk of exodus of customers, which significantly jeopardises its monetisation as well as its business model.