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Paytm Stock Crash: The stock of Fitnene veteran Paytm’s parent company One 97 Communications (One97 Communications) has fallen in the business session of 24 January 2025. Seven second payment gateway companies, including Paytm, have come under the investigation of the Enforcement Directorate due to allegations of involvement in the cryptocurrency scam. Due to this news, Paytm’s stock has fallen in the last session of the week.
According to the Times of India report, Paytm’s parent company One 97 Communications is involved in the eight payment gateway companies against which the ED is investigating. And in the virtual accounts of these companies, the current 500 crore rupees have been freezed by the Enforcement Directorate for the last two years. The Enforcement Directorate has taken this action through the HPZ token app due to their possible involvement in the cryptocurrency scam composed by 10 Chinese citizens. These accused of China had raised more than Rs 2200 crore by taking more than Rs 2200 crore by taking people from 20 states in a trap to promote investment in cryptocurrency mining.
After this news came to light, the stock of Paytm, which opened at Rs 849.95 on Friday morning, suddenly rolled around 9 per cent to Rs 773.05. After this decline, recovery has returned after shopping in stock from the lower. The stock has been recovered from the lower level about 7 percent and is now trading at 828 with a decline of 2.54 per cent.
Paytm has faced major challenges in the last one year. Last year, on 31 January 2024, the Reserve Bank of India, the Regulator of the Banking Sector, took strict action against Paytm Payments Bank Ltd and prohibited the linking of new customers. Paytm was accused of taking irregularities about banking regulation, after which RBI took this major action. After the action of RBI, there was a big decline in Paytm shares. On 10 May 2024, the stock slipped to a level of Rs 310, but the company overcome the crisis and after that there was a strong jump in the stock. Paytm’s stock reached the level of Rs 1062, giving multibagger returns in a year. The recent decline in the market has also affected Paytm’s stock. Now bad news has come out again for stock.
Disclaimer: (Here the information provided is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult experts before investing as an investor. There is never advice to invest money here.)
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