iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Paytm crashes 50% from peak, hits lower circuit again

29 Feb 2024 , 12:04 PM

On February 29, Paytm shares saw negative trading for the third straight day. The fintech stock was trading at ₹393.00 on the National Stock Exchange (NSE) at 12:10 pm, down 3.25% downward circuit. The prior session saw a 5% loss for the counter as well.

The decline occurs even after Vijay Shekhar Sharma resigned from his position as the part-time non-executive chairman and board member of Paytm Payments Bank, as investors continue to express unease. 

Following the RBI’s crackdown on Payment Payments Bank on January 31, the Paytm shares suffered greatly. It crashed at about 60%, then bounced back a little by touching the 5% upper circuit in back-to-back sessions. 

Paytm has recovered its losses to trade 20% above the 52-week low of ₹318, which was reached on February 16. However, the stock is still almost 50% below the closing price of ₹761.20 on January 31.

Paytm’s net payments margin is expected to drop from 7-9bps to 6-7bps, according to UBS analysts. This is because the company is losing its high-margin wallet business and probably has cheaper terms to keep merchants. 

For feedback and suggestions, write to us at editorial@iifl.com

File:Paytm Logo (standalone).svg - Wikipedia

Related Tags

  • Lower Circuit
  • Paytm
  • RBI
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.