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Macquarie cuts Paytm target on ‘serious risk of exodus of customers’
Macquarie dramatically cut its 12-month price target on One97 Communications Ltd., the parent company of digital payments firm Paytm, citing heightened Macquarie dramatically cut its 12-month price target on Paytm citing heightened regulatory scrutiny.
Macquarie dramatically cut its 12-month price target on One97 Communications Ltd., the parent company of digital payments firm Paytm, citing heightened regulatory scrutiny. Macquarie, which famously predicted the slump at Paytm before the listing, lowered its target to 275 rupees ($3.3), the most brutal by any major brokerage firm. India’s central bank last week said it takes supervisory actions and imposes business restrictions only after “ persistent non-compliance ” with rules, its first comment after a clampdown on Paytm last week has posed existential questions about the future of the leading financial services firm.
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