SHARES OF ONE 97 COMMUNICATIONS, the parent company of Paytm, tanked 20% intra-day on Thursday, a day after the fintech said it would halve its BNPL disbursals over the course of the next three-four months. The company's shares closed at ₹661.30 on the BSE, down 19% over Wednesday's closing.
Analysts at Jefferies pointed out that Paytm had discontinued small-ticket personal loans in 2QFY24. While they expect some moderation in loan disbursals following higher risk weights imposed by the regulator, the actual quantum is ahead of the estimates. "Compared to our earlier estimate of the overall loan disbursal of growth 98%/49%/43% in FY24/25/26E, we now expect 65%/5%/27%, respectively," they wrote.
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