Foreign portfolio investors increased their shareholding in the Paytm operator to 20.64 per cent, while mutual funds also raised their stake to 6.15 per cent in the March 2024 quarter..
Paytm withdrew its nominee from the Paytm Payments Bank board and its founder Vijay Shekhar Sharma stepped down as part-time non-executive Chairman and board member of the associate company.
Paytm target price: Bernstein said it would have liked to see more details such as what merchants need to do to continue using these payment solutions, if any (a re-KYC).
Paytm shares fell 8.7% to Rs 385.75 on BSE after Macquarie downgraded the company with a reduced target price of Rs 275 in the base case scenario. Following a ban on Paytm Payments Bank, RBI Governor Shaktikanta Das stated that there is limited scope for reviewing actions.