Shares of One 97 Communications Limited, the parent company of Paytm, pared sharp early losses to close nearly flat on Monday, as markets appeared to largely absorb the winding up of its associate entity, Paytm Payments Bank Limited (PPBL), following cancellation of its banking licence by the Reserve Bank of India.
The stock closed at ₹1,132.05 on the NSE, down just 1.33 per cent from its previous close of ₹1,147.35, a significant recovery from the day’s low of ₹1,051.10. The stock had opened at ₹1,084.95 and was down nearly 4 per cent in early trade before buyers stepped in, pushing it to an intraday high of ₹1,144.75. Total traded volume surged to 216.82 lakh shares — well above the morning tally — with a traded value of ₹2,387.87 crore, reflecting heavy two-way activity through the session. The low deliverable-to-traded quantity ratio of 21.74 per cent suggests the day was largely driven by intraday traders rather than long-term investors building or exiting positions.
Goldman Sachs, in a note published Monday morning, maintained its Buy rating on the stock with a revised 12-month price target of ₹1,400 — implying around 24 per cent upside from Monday’s close — though it trimmed the target from an earlier ₹1,470. The brokerage noted that Paytm had already impaired its entire investment in PPBL in early 2024 and currently derives no revenues from its operations. It flagged near-term uncertainty around potential brand perception impact and implications for Paytm’s planned Prepaid Payment Instrument licence application, while pointing to the RBI’s recent authorisation of Paytm as a payment aggregator for both online and offline merchants as a positive signal.
Jefferies said the Paytm business model is entering a phase where scale-driven efficiencies are expected to drive margin expansion, supported by growth across both merchant payments and financial services offerings.
According to Bernstein, this development could be seen as clearing the way for the company to apply for a NBFC or PPI license.
The recovery came after One 97 Communications informed on Saturday stating that PPBL’s board and shareholders had approved winding-up resolutions following the RBI’s cancellation of PPBL’s banking licence effective April 24. The company assured investors that PPBL contributed nil revenue or net worth to the parent in the last financial year and that all Paytm services — including Paytm UPI, Soundbox, QR, Money, and Payment Gateway — continue uninterrupted.
The stock remains down 11.91 per cent year-to-date and well below its 52-week high of ₹1,381.80 touched in December 2025, though Monday’s recovery will offer some relief to investors who feared a sharper selloff.
Published on April 27, 2026
