India, February 29 (Punjab Khabarnama): As per experts, the fall in share price indicates that Sharma’s resignation has failed to soothe investors nerve. Paytm shares has hit the upper circuit on two consecutives sessions earlier.
Shares of One 97 Communications, parent company of Paytm, is trading 17.80 points, or 4.38 per cent lower at 388.40 per equity share on Thursday.
The shares had hit the lower brand circuit on Wednesday to hit 406.15 apiece.
This comes as payment aggregator Paytm finds itself at the receiving end to non-compliance and supervisory concerns, as per RBI. Paytm had recently reconstituted the company’s board with induction of several key industry veterans after Vijay Shekhar Sharma had resigned as part time non-executive Chairman of Paytm Payments Bank Ltd.
As per experts, the fall in share price indicates that Sharma’s resignation has failed to soothe investors nerve. Paytm shares has hit the upper circuit on two consecutives sessions earlier.
In January, RBI undertook regulatory action against the aggregator, barring it from accepting any fresh deposits, or top-ups in wallets, accounts, FASTags and other instruments from February end. The deadline was later extended to March 15.