Paytm Stocks Hit Lower Circuit For 3rd Consecutive Day; Investors Continue To Bleed

Shares of Paytm continued to bleed on the third straight time, falling 10 percent on Monday. One 97 Communications Ltd, a Paytm parent company, shares were at 10 percent lower circuit hitting Rs 438.50 on Monday morning as the stock exchanges had cut company’s daily share trading limits to 10 percent, from 20 percent. The new 10 percent limits are applicable today.

There has been a bloodbath for Paytm shares as investors continue to bleed ever since the RBI order on Paytm Payments Bank Ltd that said that it can take deposits but cannot lend, to not take any further deposits or conduct credit transactions or carry out top-ups on any customers accounts, prepaid instruments, wallets, cards for paying road tolls after February 29.