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Paytm's stock is facing significant challenges as it has witnessed a substantial downturn and hit the 20% lower circuit limit for two consecutive trading sessions. The decline came after the Reserve Bank of India barred Paytm Payments Bank from conducting certain banking operations.
Shares of One97 Communications, the parent entity of digital payment app Paytm rose on Friday on value buying and strong volumes, after an almost 19 percent fall in the previous session on the back of multiple downgrades.
The share price of One97 Communications, the parent entity of digital payment app Paytm, tumbled in today's trade, hitting the lower circuit limit of 20%, reaching ₹650 apiece. This sharp fall came after the company announced plans to cut down on small ticket loans.