Business

Paytm shares have hit an all-time low; Accident more than 20% in 2 days


Paytm parent One 97 Communications fell 12.84 percent on Monday.

Mumbai (Maharashtra):

Paytm’s One 97 Communications Ltd share price fell another 10 per cent on Tuesday, to an all-time low.

At 14:28, the One 97 Communications Ltd share was selling at Rs 603.15, which is 10.62 per cent less than the previous day’s closing at Rs 675.53.

One 97 Communications Ltd is the lowest share price ever.

The turnaround has fallen by more than 20 per cent in the last two days after the Reserve Bank of India (RBI) banned Paytm Payments Banki from introducing new customers.

97 Communications Ltd shares fell 12.84 percent on Monday.

The company’s market capitalization fell below $ 40 billion for the first time. On the day of its IPO on November 18, 2021, the capitalization of One 97 Communications Ltd was 1.01 lakh million. The company has lost more than $ 60 billion in market capitalization in less than four months.

The Reserve Bank of India (RBI) last week imposed restrictions on Paytm Payments Bank and asked it to appoint an IT audit firm to conduct a comprehensive audit of its computer system.

In response to the RBI’s action, One 97 Communications Ltd said: “Paytm Payments Bank is taking immediate steps to comply with RBI’s guidelines, including the appointment of a reputable external auditor to carry out a comprehensive audit of its IT systems. remains committed to resolving its concerns as soon as possible. “



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