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New DelhiPaytm Shares of brand owner One97 Communications Ltd saw a decline in Wednesday's trading session. The company's shares fell 5 percent in early morning trading and reached the lower circuit range.
The stock fell 4.99 percent to Rs 406.15 on BSE. This is its lower circuit limit. With this, the company's shares fell 4.99 percent on NSE to the lower circuit limit of Rs 406.20.
Shares of One97 Communications hit the upper circuit range in the trading sessions on Tuesday, Monday and Friday.
Vijay Shekhar Sharma resigned
Vijay Shekhar Sharma on Monday resigned as part-time non-executive chairman of Paytm Payments Bank Ltd. After this the board of the bank has been reconstituted. In a filing on Monday, PPBL said it would initiate the process of appointing a new chairman.
RBI has banned Paytm Payments Bank for non-compliance. New updates are continuously coming regarding Paytm Payments Bank.
In a regulatory action last month, the central bank had barred PPBL from accepting fresh deposits or top-ups into customers' accounts, wallets, Fastag and other instruments after February 29. Now its deadline has been extended till March 15.
One97 Communications Limited (OCL) owns the Paytm brand. One97 Communications holds 49 percent stake in PPBL. Vijay Shekhar Sharma has 51 percent stake in the bank.