Paytm shares fell over 10 per cent on Thursday despite Goldman Sachs raising its target price. The stock opened gap down at Rs 1,670, down 3.69 per cent from the previous close of Rs 1,734 on the BSE. Amid selling pressure, the counter tumbled further to hit a 10 per cent lower circuit of Rs 1,560.60. The counter gained some momentum from the lower levels and was last seen trading at Rs 1,647.20, down Rs 106.80 or 6.16 per cent, and the company’s market cap stood at Rs 1,04,383.18 crore.
Meanwhile, the Reserve Bank has officially removed Paytm Payments Bank Ltd (PPBL), an associate firm of Vijay Shekhar Sharma-promoted fintech firm Paytm, from the list of recognised scheduled banks after cancelling its banking licence.
