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.
RBI governor Shaktikanta Das clarifies that there will be no relaxation or review of the central bank's decision against Paytm Payments Bank. The RBI takes action against regulated entities after a comprehensive assessment and the decision to stop accepting deposits or top-ups in Paytm accounts is final. RBI has also directed termination of the 'nodal accounts' of One97 Communications Ltd, the owner of the Paytm brand. However, RBI allows credit of interest, cashbacks, or refunds beyond February 29.
In the last one year, Fino Payments Bank has given 23.4% returns, slightly outperforming the Nifty 50. But looks like the market has now fully priced in its growth potential post conversion to a small finance bank.