India's Paytm shares hit fresh record low after Macquarie downgrade

Credit: REUTERS/DADO RUVIC

BENGALURU, Feb 13 (Reuters) - Shares of Indian payments firm Paytm PAYT.NS dropped 8.5% to a record low of 386.25 rupees on Tuesday after brokerage Macquarie downgraded the stock, saying the company faced a "serious risk of exodus of customers" following the Indian central bank's action against its banking arm.

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sohini Goswami)

((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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