Paytm Stocks Hit Lower Circuit For 3rd Consecutive Day; Investors Continue To Bleed

BSE and NSE have reduced the lower circuit filter to 10 percent from 20 percent.

New Delhi: Shares of Paytm continued to bleed on the third straight time, falling 10 percent on Monday. One 97 Communications Ltd, a Paytm parent company, shares were at 10 percent lower circuit hitting Rs 438.50 on Monday morning as the stock exchanges had cut company's daily share trading limits to 10 percent, from 20 percent. The new 10 percent limits are applicable today.

There has been a bloodbath for Paytm shares as investors continue to bleed ever since the RBI order on Paytm Payments Bank Ltd that said that it 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.

As per Zee Business Editor Anil Singhvi, one should not buy Paytm stocks. He further added that if you hold Paytm shares, it is better to opt out of the risky scrip. Singhvi has categorically advised that investors should not maintain this stock in their portfolio.

Shivaji Thapliyal, Head of Research and Lead Analyst, Yes Securities had on Friday said, Thapliyal added further, "We have NEVER assigned a BUY rating on Paytm and we cover it since listing, when we had assigned a SELL rating on it. We, currently, have a less-than-bullish ADD rating on the stock."