Shares of One 97 Communications, the parent company of Paytm, dropped over 2.5% on Tuesday after the government directed banks and payment system providers not to levy charges on UPI transactions of up to Rs 2,000, leaving investors speculating about what happens to transactions above the said amount.
Paytm shares dropped to Rs 1,761.80 apiece on NSE on Tuesday morning. This comes a session after the stock hit a fresh 52-week high of Rs 1,840 apiece, nearly doubling in less than six months from its 52-week low of Rs 930.6 apiece which the stock had hit in March this year.
