In a recent blow to Paytm, global brokerage firm Macquarie downgraded its rating to 'Underperform,' lowering the target price to ₹275 per share, signaling a 35% downside from the current ₹396 per share.
This follows the Reserve Bank of India's restrictions on Paytm Payments Bank, impacting operations. Macquarie highlights concerns about customer exodus and anticipates a significant decline in revenues. The stock hit an all-time low of ₹386.25, an 8.60% decrease.