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Paytm sinks to record low as Macquarie India sees more pain ahead

Paytm parent One97 Communications shares continue to fall and this time more than 2 percent to a 52-week low after Macquarie Securities India suggested that the company’s future earnings growth may be worse than it had earlier.  The brokerage firm slashed its price target for the stock by 25 percent from Rs 1,200 earlier, implying a further downside of 28 percent from the January 7 closing. Macquarie stated, ”Post the various business updates and results, we believe our revenue projections, particularly on the distribution side, are at risk.”

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