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The Times of India
The Times of India
Business
Bloomberg

Paytm slumps as Macquarie sees risk from Mukesh Ambani's financial foray

Mukesh Ambani Paytm Macquarie Macquarie Group One 97 Communications India Reliance Industries

Shares of One 97 Communications, the parent of India’s leading digital payments brand Paytm, plunged to a record low on Tuesday after Macquarie Group analysts flagged risks from billionaire Mukesh Ambani’s foray into the financial services business.

Reliance Industries’ Jio Financial Services “can pose a significant growth and market-share risk” for players such as Paytm and Bajaj Finance, Macquarie analysts led by Suresh Ganapathy wrote in a note on Monday.

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