One 97 Communications touches lower circuit after RBI halts all transactions of its digital payment unit
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One97 Communications is currently trading at lower limit of Rs. 608.80, down by 152.20 points or 20.00% from its previous closing of Rs. 761.00 on the BSE.
The scrip opened at Rs. 608.80 and has touched a high and low of Rs. 608.80 and Rs. 608.80 respectively. So far 141559 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 998.30 on 20-Oct-2023 and a 52 week low of Rs. 516.00 on 01-Feb-2023.
Last one week high and low of the scrip stood at Rs. 774.00 and Rs. 608.80 respectively. The current market cap of the company is Rs. 38663.69 crore.
The Institutions and Non-Institutions held 69.78% and 30.21% stake in the company respectively.
The Reserve Bank of India (RBI) has barred One97 Communications’ (Paytm) associate entity -- Paytm Payments Bank from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.
The Reserve Bank's action against Paytm Payments Bank (PPBL) follows a comprehensive system audit report and subsequent compliance validation report of the external auditors. These reports revealed persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action.
Paytm is India's leading digital ecosystem for consumers as well as merchants.
