Shares of One97 Communications Ltd (OCL), which owns Paytm brand, tanked 19 per cent on Thursday after the company announced to cut its postpaid loans below Rs 50,000, following the increase in risk weights on unsecured personal loans by the Reserve Bank.
The company’s stock closed at Rs 661.3 apiece on Thursday, down Rs 152 or 18.69 per cent. The share price hit the lower circuit of 20 per cent after it touched Rs 650.65 apiece.
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