Paytm shares: The Paytm brand's parent, One97 Communications, saw a heavy sell-off during Thursday's trading. The sell-off was triggered after a Reuters report, citing anonymous regulatory officials, that India is considering delaying the rollout of a fee on large payments via its popular Unified Payments Interface platform by a few months.
According to stock market experts, Paytm share price is falling on the sentimental trigger only. There is no official announcement in this regard; hence, Paytm shareholders should wait for the government's final announcement. They advised One97 Communications shareholders to hold Paytm shares, maintaining a stop-loss at ₹1550.
Highlighting the reason for the fall in One97 Communications share price today, Mahesh M Ojha said, “Paytm shares are falling due to the news reports about India mulling to delay the rollout of UPI MDR. This has gone down negatively for the fintech stock, and people are selling this stock on this sentimental buzz.”
Ojha advised Paytm shareholders to hold the scrip and wait for an official announcement from the government. He said that the stock has rallied following the declaration of the UPI MDR rollout, and hence any rebuttal from the government is expected to trigger a fresh rally in Paytm's share price.
According to Reuters, a final decision on delaying the rollout has yet to be taken by the National Payments Corporation of India, but is expected in the coming days, one of the sources said.