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.
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UP: Over 100 monkeys die of toxic chemical, buried in pit to hide carnage
Hathras (UP), Nov 22: More than 100 monkeys perished after inhaling a pesticide sprayed in a food godown and were stealthily buried in a pit, police on Friday said.
The bodies were taken out for a postmortem by a team of veterinarians on Friday.
Circle Officer Yogendra Krishna Narayan said police came to know about the deaths on Wednesday.
Police have registered a case against the employees of Food Corporation of India and started an investigation.
According to police, the chemical in question was aluminium phosphide sprayed on wheat sacks to protect it from insects and rodents in an FCI warehouse on November 7.
A troop of monkeys entered the warehouse through a broken window of the godown on the night of November 7 and ended up inhaling the gas.
When the workers opened the warehouse on November 9, they saw several monkeys dead.
They allegedly chose not to inform their seniors about deaths and buried the bodies in a pit.
The CO said the bodies were exhumed when some Vishv Hindu Parishad leaders came to know about the incident.
As per police count, more than 100 monkeys were exhumed from the pit.
Their bodies were in late stage decay, the officer said.
