No relief for Paytm

Paytm’s stock plummeted by an additional 9% following RBI Governor Shaktikanta Das’s statement affirming that the regulatory restrictions imposed on the company would remain unchanged. In case you missed it, there were earlier reports suggesting that the central bank might reconsider its decision and grant Paytm an extension beyond the February 29 deadline to cease its payment bank operations. However, both possibilities seem unlikely now.
Adding to Paytm’s woes, Macquarie downgraded the stock and set an exceptionally low target price of Rs 275 per share, indicating a 29% decrease from current levels. Macquarie expressed concerns about the company facing a significant risk of losing customers and projected a steep decline in revenue—around 60% to 65%—for both its payments and distributions verticals over the next two years.