In early trading, the company’s market capitalization witnessed a decline of Rs 9,646.31 crore, reaching Rs 38,663.69 crore.
One97 Communications Ltd. shares were locked in a 20% lower circuit as the Reserve Bank of India (RBI) prohibited Paytm Payments Bank from accepting new deposits, top-ups, or credit transactions beyond Feb. 29. This regulatory action was taken due to the discovery of persistent non-compliance and significant supervisory concerns at the payments bank.
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Paytm’s shares were halted at a 20% decline, reaching Rs 609 apiece on Thursday morning, marking the lowest level since December 23. The stock has experienced a 16.22% increase in the last twelve months.
The total traded volume for the day has reached 120 times its 30-day average. Additionally, the relative strength index (RSI) is currently at 30.16.
As per Bloomberg data, among the 14 analysts tracking the company, seven uphold a ‘buy’ rating, four recommend a ‘hold,’ and three suggest ‘sell.’ The average of the 12-month analyst price targets indicates an upside potential of 39.1%.