Shares of Paytm are expected to open with sharp cuts on Thursday morning after the RBI in a release today directed Paytm Payments Bank to (add news).
The stock ended at Rs 761.20 on Wednesday. In the last 3 months, the stock has corrected over 17% after making a 52-week high of Rs 998. The stock, however, has surged 19% so far this month.
Experts believe that the latest decision from RBI is a big negative for the company and will have a larger impact on its business, which can further lead to derating of the stock or a sharp knock atleast in the near term.
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