• Source:JND
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Paytm Shares:  Shares of One97 Communications Ltd, which owns Paytm, tanked nearly 9 per cent on Friday as investors continued to dump the stock in early trade. Later at around 12:26 pm Paytm's shares rose a bit, but it was still trading around 6% below the previous day's close price.

Extending the previous day's decline, the stock fell 8.67 per cent to Rs 408.30 on the BSE in morning trade. Shares of the company fell 8.20 per cent to Rs 410 on the NSE. Later, it rose to 417.45 at around 12:30 pm on NSE.

After a two-day rally in the stock, One97 Communications Ltd shares fell 10 per cent to the lower circuit on Thursday.

One97 Communications' stock price rose 10 per cent on Wednesday and rebounded more than 3 per cent on Tuesday after three days of sharp declines.

From February 1-5 (three days of trading), the company's stock plunged over 42 per cent on the Reserve Bank of India crackdown, from its market value of Rs. 20,471.25 crores has been wiped out.

Why Paytm Stock is falling?

On January 31, the RBI directed Paytm Payments Bank Ltd, to not take any other deposits or conduct credit transactions or open any customer accounts. The RBI restricted services like prepaid devices, wallets, and paying road tolls after February 29 through the Paytm payment bank.

Reserve Bank Governor Shaktikanta Das on Thursday said there were no systemic concerns and the crackdown on Paytm was due to a "lack of compliance" in Paytm.

Paytm's share-holding pattern

One97 Communications holds 49 per cent of PPBL's paid-up share capital (directly and through its subsidiary). Founder Vijay Shekhar Sharma owns a 51 per cent stake in the bank.

Paytm Payments Bank Independent Director Manju Agarwal has resigned from the board after RBI imposed restrictions on the bank's operations. According to a source, Agarwal has resigned from February 1.