Varma resigned on 14 March due to 'personal commitments and other pre-occupations,' Paytm said. Varma also quit from the board of PB Fintech the same day.
RBI statement said action against Paytm Payments Bank based on “material supervisory concerns” & restrictions will continue pending an audit of its information-technology systems.
Buy recommendations on One 97 Communications, the operator of Paytm, climbed to 4 this week, up from just 2 at the start of the year. Sell ratings remained unchanged at 3.
Paytm is struggling to convince investors and analysts alike of the potential for its business model. Losses widened to Rs 474 crore in the September quarter amid rising expenses.
The exercise refers to card information stored by payment gateway and merchants to process future transactions. RBI said the data shall be purged after 30 June 2022.
Morgan Stanley has started coverage on the digital payments startup with an overweight rating and a price target of Rs 1,875, which implies 43% upside from Tuesday’s close.
The stock dropped 5.6% to Rs 1,321 in Mumbai, extending this week’s losses to almost 16%. The stock is now down nearly 39% from its issue price of Rs 2,150.
Dolat Capital Market, third brokerage to initiate coverage on Paytm, says its transition to a 'manufacturer' of financial services from an agent will help the digital payments firm.
In Asia, gasoline margins have doubled to more than $33 a barrel since the end of March and have edged above those for diesel, which have eased from a peak in early May.
In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.
Like the car, nothing the party has done to reinvent itself has worked. Only way forward is to offer something looking towards the future, not in image of glorious past.