Paytm stock hits record low; netizens flood Twitter with choicest memes

Paytm has become the talk of the town for memelords yet again after it hit record low on Monday. Its stock tanked 6.01 per cent at the BSE and went down 5.98 per cent on the NSE.  Soon after these fluctuations at the bourses were reported, Twitter users decided to put their humorous hats on and share some absolutely hilarious memes on the same.
 
From "bas kijiye bahut ho gaya" to rehashing Vijay Shekhar Sharma’s emotional moment from the day of Paytm’s listing on the bourses, here’s how the Internet reacted

Meanwhile, research firm Macquarie pared down its revenue forecasts of the digital payments firm from FY21-26 citing lower distribution and commerce/cloud revenues. “We are roughly cutting revenue estimates for FY21-26 on an average by 10 percent every year due to lower distribution and commerce/cloud revenues offset particularly by higher payment revenues,” Macquarie said in its recent report on Paytm titled No signs of headwind abating. It further pared down the company’s CAGR from 26 percent to 23 percent for FY21-26.
 
The research firm also said that RBI’s proposed digital payments regulations and many senior executives leaving Paytm is a big concern. “RBI’s proposed digital payments regulations could cap wallet charges. Payments business still forms 70 percent of overall gross revenues for Paytm and hence any regulations capping charges could impact revenues significantly. Add to that, Paytm’s foray into insurance was recently rejected by the insurance regulator IRDAI. We believe this could impact Paytm’s prospects of getting a banking license,” Macquarie underscored.
 
“Senior executives have been resigning from Paytm which is a cause of concern and could impact business in our view if the current rate of attrition continues,” the report noted.

Also read: Paytm consolidates offline payments, lending leadership post high-profile exits

Also read: Macquarie sees Paytm stock at Rs 900 in a year, here's why