Paytm shares tank another 20 pc; hit fresh lower circuit limit
New Delhi (PTI): Shares of One97 Communications Ltd, which owns Paytm brand, slumped another 20 per cent on Friday, as the RBI has directed Paytm Payments Bank Ltd (PPBL) to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29.
The stock tanked 20 per cent to Rs 487.05 -- its lowest trading permissible limit for the day -- at the BSE.
On the NSE, it tumbled 20 per cent to hit the lower circuit limit of Rs 487.20.
Shares of One97 Communications plummeted 20 per cent on Thursday as well.
In two days, the company's market capitalisation (mcap) eroded by Rs 17,378.41 crore to Rs 30,931.59 crore.
Fintech firm Paytm sees an impact of Rs 300-500 crore on its annual operational profit, as its customers will not be able to add money to their wallets, FASTags etc as RBI barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account.
The central bank on Wednesday barred PPBL from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.
Till then, customers can add money as well as withdraw money from the Paytm wallet and PPBL account.
RBI said the action against PPBL followed a comprehensive system audit report and subsequent compliance validation report of external auditors.
One97 Communications Ltd (OCL) holds a 49 per cent stake in PPBL but classifies it as an associate of the company and not as a subsidiary.
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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.
