Shares of One97 Communications (OCL), the parent firm of fintech major Paytm, hit a new low of Rs 380.35 on the BSE, as the stock slipped nearly 10 per cent on Tuesday.
The dip came following Macquarie downgrading the stock to 'Underperform' and the Reserve Bank of India (RBI) governor Shaktikanta Das dismissing the possibility of a review of the central bank’s action against Paytm Payments Bank last month.
Macquarie sharply cut target price to Rs 275 from Rs 650, driven by a reduction in revenues across