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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Salman Khan receives fresh death threat via WhatsApp; FIR registered, security tightened
Mumbai: Bollywood superstar Salman Khan has received another death threat, this time via a message sent to the official WhatsApp number of the Worli Traffic Department. The threat warned that the actor would be killed at his Bandra residence and that his car would be blown up with a bomb.
Following the receipt of the message, the Worli Police registered an FIR against the unidentified sender and have initiated efforts to trace the source of the threat.
Security has been tightened around Khan’s home at Galaxy Apartments in Bandra. The actor and his team have yet to release an official statement regarding the incident.
This threat adds to a series of ongoing intimidations targeting the actor, allegedly linked to the Lawrence Bishnoi gang. In April 2024, a threat letter was dropped near Khan’s father, Salim Khan, during his morning walk, escalating the security concerns for the family.
In response to the threats, Salman Khan has installed bulletproof glass in his home and limited his public appearances. He has also reduced outdoor shoots and maintains a restricted crew for indoor filming.
On Sunday, the actor was seen at Mumbai airport in a serious mood, accompanied by his bodyguard Shera, who was visibly agitated with the media presence.
Police investigations are underway, and further details are awaited.
