PAYTM STOCK TANKS 20% FOR SECOND STRAIGHT DAY

Investors remained unconvinced by Paytm management's reassurance that the company would distance itself from Paytm Payments Bank (PPBL) and collaborate with other banks following the Reserve Bank of India's (RBI) stringent restrictions on PPBL's operations.

For the second consecutive day, the stock price of One 97 Communications (OCL), the parent company of Paytm, plummeted by 20%, triggering the lower circuit at Rs487 on Friday. This decline marks a staggering 77% decrease from the IPO price.

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