India's Paytm, operated by One 97 Communications, has seen a notable shift in its market dynamics following a series of regulatory and operational developments. The company's shares experienced a 5% increase after the central bank extended the wind-down date for one of its units. Concurrently, Jefferies Group, a major Wall Street investment bank, announced the suspension of coverage on Paytm amid the evolving news landscape surrounding the Indian fintech major. This decision underscores the heightened regulatory scrutiny Paytm faces, further evidenced by the Enforcement Directorate's investigation into Paytm Payments Bank for potential forex breaches, although no violations have been confirmed yet. Additionally, Paytm's FASTag service is set to become inactive after March 15, prompting users to seek alternative providers for their FASTag needs. Amid these challenges, Paytm shares have managed to hit the upper circuit, reaching Rs 376 for three consecutive sessions, indicating a complex investor response to the company's current situation.
Wondering what will happen to your Paytm FASTag account after March 15? Here's a quick guide that will help you with all your FASTag-related queries. #Paytm #PaytmFASTag #FASTag https://t.co/SY4bIYGC2s
STORY | At Rs 376, Paytm shares hit upper circuit for third straight session READ: https://t.co/O4xNJimpBc (PTI File Photo) https://t.co/snnB9nHQF4
Paytm FASTag to stop working after March 15: Here’s what you need to know #fastagaccountdeactivation #Fastag https://t.co/SY4bIYGC2s
Wondering what will happen to your Paytm FASTag account after March 15? From deactivating your existing FASTag account to switching to a new provider, here's a quick guide that will help you with all your FASTag related queries. #FASTag #Paytm #PaytFASTag https://t.co/SY4bIYGC2s
#Paytm Fastag alternatives List of all the banks where you can get your new #FASTag https://t.co/TH4GwddLem
ED has not yet found forex breaches at Paytm unit, source says Last week, Enforcement Directorate announced the investigation into overseas transactions by Paytm Payments Bank, a unit of One 97 Communications, popularly known as Paytm. https://t.co/a50TLmPy1d
Jefferies Group Drops Coverage On Paytm Amid Regulatory Concerns https://t.co/wKvgLpgf1h https://t.co/s8HkqVTW2s
You Can't Recharge Paytm FASTag After March 15. Know How To Buy New One https://t.co/cicOH2b1e8 https://t.co/Yz9QzXpevY
Jefferies has become the first major Wall Street investment bank to drop coverage on Paytm-operator One 97 Communications “until the news flow settles down” around the beleaguered Indian fintech major https://t.co/04w6asWHUx
India's Paytm shares jump 5% after https://t.co/R0iPhyo5p7 extends unit wind-down date https://t.co/keKx7NPyEw https://t.co/0Rqi5zk3E3
India's Paytm shares rise 5% after central bank extends unit wind-down date https://t.co/IqyIYE0sBB https://t.co/h15m4boxQC