Global brokerage firm Macquarie downgraded Paytm s rating to Underperform and significantly lowered its target price to ₹275 per share. This revised target price indicates a 35% downside from the current trading price of ₹396 per share.
The Reserve Bank of India (RBI), which encourages innovation in the banking sector, had warned about potential friction between innovative firms and regulatory bodies.
Paytm s stock is facing significant challenges as it has witnessed a substantial downturn and hit the 20% lower circuit limit for two consecutive trading sessions. The decline came after the Reserve Bank of India barred Paytm Payments Bank from conducting certain banking operations.
Paytm share price today: Bernstein assigned a share price target of Rs 950 on Paytm, suggesting a 47 per cent potential upside. On Wednesday, Paytm shares jumped 3.29 per cent to Rs 672.50 on BSE.