Paytm shares fall for 3rd day; hit lower circuit limit
New Delhi, Feb 5: Shares of One97 Communications Ltd, which owns Paytm brand, fell by another 10 per cent to hit its lower circuit limit, as investors continued to dump the stock following the RBI's crackdown.
The stock tanked 10 per cent to Rs 438.35 -- its lowest trading permissible limit for the day -- on the BSE.
It plummeted 9.99 per cent to hit its lower circuit limit of Rs 438.50 on the NSE.
In three days, the stock has tumbled over 42 per cent, wiping out Rs 20,471.25 crore, from its market valuation.
The regulator last week ordered Paytm Payments Bank Ltd, a restricted bank that 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.
Paytm Payments Bank Limited (PPBL) is an associate of One97 Communications Limited (OCL).
One97 Communications holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL. Vijay Shekhar Sharma has a 51 per cent stake in the bank.
While users have the option to switch to other wallets, and FASTag services etc being provided by other vendors, Paytm management has said that PPBL is in discussion with RBI to comply with their direction for continuing the business.
Paytm sees an impact of Rs 300-500 crore on its annual operational profit.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Yamal misses a penalty and Barcelona''s late collapse hands Girona a 2-1 win in La Liga
Girona (Spain) (AP): Lamine Yamal missed a penalty as Barcelona lost at Girona 2-1 on Monday and passed up a chance to overtake Real Madrid at the top of La Liga.
The defeat was the second in less than a week for Barca and left it second in the table, two points behind Madrid.
A win would have taken it above its archrival but, instead, a crisis brewed for coach Hansi Flick, whose side lost to Atletico Madrid 4-0 in the Copa del Rey last week.
The second loss came even though Barcelona took the lead early in the second half.
Yamal hit the post with his spot kick on the stroke of halftime but 14 minutes into the second period Pau Cubarsí met Jules Kounde's cross from the right and placed his header perfectly into the top corner.
The goal was Barcelona's 100th in all competitions this season and made it the second club in Europe's big five domestic leagues to hit the century after Bayern Munich.
However, Girona roared back into the game just three minutes later.
Barcelona's Joan Garcia was already the busier of the two goalkeepers but he could not stop Thomas Lemar side-footing home from close range after nice work from Vladyslav Vanat on the left wing.
Both sides pushed for a decisive second and it was Girona who executed with three minutes remaining, substitute Fran Beltrán scoring with a low shot from just inside the box.
Girona's Joel Roca was sent off in the dying seconds but there were no more goals.
The victory ended a three-game winless streak for Girona and lifted it three places into 12th, equal on points with Getafe.
Only seven points separate the 11 clubs from eighth to 18th in La Liga.
