Paytm share price 2 per cent up after 15% fall in last two sessions - Hindustan Times
close_game
close_game

Paytm share price 2 per cent up after 15% fall in last two sessions

Feb 12, 2024 10:41 AM IST

Paytm share price: On Thursday and Friday, the stock fell 15.48 per cent, wiping off ₹4,870.96 crore from its market valuation on the Sensex

Paytm shares witnessed a marginal recovery of 2 per cent in the open on Monday. The stock was trading at 428.75 before hitting a day high of 434.

The payment gateway's shares had fallen 15 per cent in the last two days of previous trading week.

The Paytm shares had surged 10 per cent on Wednesday after rebounding over three per cent on Tuesday following three days of sharp fall(REUTERS)
The Paytm shares had surged 10 per cent on Wednesday after rebounding over three per cent on Tuesday following three days of sharp fall(REUTERS)

On Friday, the shares of Paytm had tanked 6.09 per cent to close at 419.85 on the BSE. During the day, it had dropped 8.67 per cent to 408.30. The company stock had declined 6.15 per cent to 419.15 on the National Stock Exchange. During the day, the shares tumbled 8.20 per cent to 410.

ALSO READ: Centre examining FDI flow from China in Paytm Payments Services

Hindustan Times - your fastest source for breaking news! Read now.

On Thursday and Friday, the stock fell 15.48 per cent, wiping off 4,870.96 crore from its market valuation on the Sensex. The shares had fallen 10 per cent to hit lower circuit on Thursday following a two day rally.

The shares had surged 10 per cent on Wednesday after rebounding over three per cent on Tuesday following three days of sharp fall.

From February 1 to 5, i.e three days of trading, the Paytm stock had crashed by over 42 per cent, wiping out 20,471.25 crore from its market valuation.

The stock plunge took place a day after the Reserve Bank of India barred Paytm Payments Bank from accepting new deposits after February 29.

“No further deposits or credit transactions or top ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, other than any interest, cashbacks, or refunds which may be credited anytime,” the RBI order had stated.

The central bank had stated that the regulatory action was taken against Payments Bank due to ‘persistent non-compliance'.

"We give sufficient time to every entity to comply and sometimes more than sufficient time to the entities for compliance. If they would comply, why would a regulator like us would have to take action?" RBI governor Shaktikanta Das had said last Thursday.

(With PTI inputs)

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business Newsalong withGold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
Live Score
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, February 23, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On