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Paytm shares hits fresh record low
1 min read | Updated on February 13, 2024, 10:12 IST
SUMMARY
The company’s stock is witnessing a downfall after RBI regulatory action, which stopped Paytm Payments Bank from accepting all deposits from 29 February.
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Paytm stock hits fresh 52-week low
Paytm shares declined in the opening hours of the market. The stock opened at ₹403 per share and hit a 52-week low of ₹386.25 per share.
The company’s stock is witnessing a downfall after RBI regulatory action, which stopped Paytm Payments Bank from accepting all deposits from 29 February. Also, RBI had refused to grant concessions to Paytm which included the extension of the February 29 deadline.
As per experts, Paytm faces a serious risk of customer exodus, which significantly jeopardises its monetisation and business model. This could impact the company's revenue in coming quarters.
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