Paytm Price Band Revised From 20% To 10% On NSE, BSE
This comes after the shares of Paytm hit the 20% lower circuit for the second consecutive day and wiped out investor wealth worth Rs 15,016 crore during the period.
The national bourses have revised the daily limit on the shares of Paytm's operator One97 Communications Ltd. to 10% from the earlier 20%.
This comes after the shares of Paytm hit the 20% lower circuit for the second consecutive day and wiped out investor wealth worth Rs 15,016 crore during the period.
Both the National Stock Exchange and the Bombay Stock Exchange notified the price band changes through a notice on Feb. 2.
The RBI found persistent non-compliance and major supervisory concerns at the company's payments bank. One97 Communications said it would be working only with other banks and not its own payments bank from now on.
Of the 15 analysts tracking the company, six have a 'buy' rating on the stock, five recommend 'hold' and four suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 59.5%.
On Friday, Morgan Stanley picked up 0.8% stake in Paytm for over Rs 243 crore via open market operations.
Other Price Band Revisions For Monday
Price band revised from 20% to 10%: BEML Land Assets Ltd., Man Industries India Ltd., NBCC India Ltd., One97 Communications.
Price band revised from 10% to 5%: FCS Software Solution Ltd., Gallant ISPAT Ltd., Pakka Ltd., PTC India Financial Services Ltd.
Price band revised from 5% to 10%: Prakash Industries Ltd.
