Paytm share price band revised downward by BSE, NSE to 5% from 10% earlier

The circuit filter for One 97 Communications Ltd (Paytm) stock has been revised lower to 5 per cent from 10 per cent earlier. To recall, the stock exchanges had reduced the circuit limit for the Paytm shares to 10 per cent from 20 per cent following the steep volatility on the counter in the wake of Reserve Bank of India (RBI) restrictions on the Paytm Payments Bank. At 9.29 am, the Paytm stock was trading 3.31 per cent lower at Rs 331.00 on BSE.

The fresh revision in the circuit limit came a day after Paytm shares were locked at their 10 per cent lower circuit limit. The price band has been revised from the existing levels with effect from February 15, 2024, BSE said.

Paytm shares closed 10 per cent lower at Rs 342.35 on Wednesday. The Paytm stock has lost 55 per cent of its market value since January 31, the day RBI put strict restrictions on Paytm Payments Bank.

Euphoria Infotech (India) Ltd, Jubilant Industries Ltd, Samrat Forgings Ltd, Samrat Forgings Ltd, Pee Cee Cosma Sope Ltd, Genus Power Infrastructures Ltd, Satchmo Holdings Ltd, Seasons Textiles Ltd and Benara Bearings and Pistons Ltd were some other stocks, whose price bands were revised by BSE.

In a fresh clarification to stock exchanges, Paytm has suggested that the fintech major, along with its subsidiaries and its associate, Paytm Payments Bank Limited, have over time been receiving notices and requisition for information, documents and explanations from the authorities, including Enforcement Directorate (ED), with respect to the customers that may have done business with the respective entities.

Paytm said it provided the required information, documents and explanations to the authorities in the past and continued to provide such information, documents and explanations to the authorities as is being required by them. It, however, clarified that Paytm Payments Bank Limited does not undertake Outward Foreign Remittance.

It was responding to a report that suggested registration of a case by ED against Paytm under FEMA violation.

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