MUMBAI: Paytm, the Indian digital payments startup whose stock has slumped 71% since its November market debut, had its price target cut further by a Macquarie Capital Securities (India) Pvt analyst who was early to predict the company’s troubles.
Macquarie’s Suresh Ganapathy cut his price estimate to 450 rupees (US$5.90 or RM24.80) from 700 rupees (RM38.59), citing lower valuations for fintech companies globally.
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