Business
Paytm Stock Plummets Amidst RBI Restrictions
Paytm, the popular Indian financial services company, witnessed a significant drop in its stock price amidst mounting market turmoil. On the last trading day, Paytm’s stock opened at ₹760.85, closing at ₹761.1. Throughout the day, it fluctuated between a high of ₹774 and a low of ₹753.85. The market capitalization of Paytm stands at ₹48,329.62 crore, with a 52-week high of ₹998.3 and a 52-week low of ₹502.65.
The current data reflects a staggering decrease in the stock price, with it currently being valued at ₹608.8, representing a percent change of -20% and a net change of -152.2. These numbers indicate a worrisome trend in Paytm’s stock performance.
Today, on the BSE, the stock of One 97 Communications, the parent company of Paytm, experienced a low price of ₹608.8 and a high price of ₹608.8.
Yesterday, the Reserve Bank of India (RBI) imposed restrictions on Paytm’s payment bank due to non-compliance. This comes as a blow to Paytm, leading to a 20% crash in its share price at open, triggering the lower circuit and leaving no buyers for the stock.
Investors and market analysts are closely monitoring Paytm’s performance amidst these challenges. The stock’s price analysis reveals a 1-week increase of 0.7%, a 3-month decrease of 26.14%, a 6-month decrease of 1.92%, a year-to-date increase of 19.79%, and a 1-year increase of 43.38%.
As Paytm’s stock plummets, concerns loom over its future and the impact of RBI’s restrictions on its operations. Investors and stakeholders eagerly await further developments in this ongoing saga.
