Key Points
Following three days of non-stop selling in lower circuits which led to 42% crash in the stock, Paytm shares ended 3% higher yesterday..
At this stage, Paytm shares are solely guided by investor sentiment around the regulatory trouble and Indian fintech poster boy's capability to tackle it.Agencies..
The roller-coaster ride in the shares of troubled fintech One 97 Communications, which runs the payments platform Paytm, continued on Wednesday with the stock rallying up to 9% to the day's high of Rs 495.75 on BSE after company founder and CEO Vijay Shekhar Sharma met RBI officials and Finance Minister Nirmala Sitharaman...
Today's upside in Paytm shares comes despite an ET report that the Directorate of Enforcement (ED) is likely to initiate a formal probe on issues related to money-laundering and KYC violations at the Noida-headquartered firm...
Explaining why it leans towards the buy camp, the broker said while the regulatory action will no doubt have a lasting impact on investors assessment of the business model risk and of the managements ability to handle regulatory risk, Paytm will successfully execute the operational changes required to overcome the restrictions...
