After hitting an intraday low of ₹1,558.80 on Thursday, October 8, Paytm’s stock recovered some losses, trading around ₹1,640.50 per share as of noon deals, a decline of 5.2%. At 1:16 PM, the NSE price was ₹1,639.30, down 5.36%. The share price had fallen as much as 10% during the session, reflecting sharp volatility in the market. The recovery came after the stock had been deep in the red earlier in the day, with traders reacting to recent news and market sentiment.

The market focus intensified on reports that traders and industry associations have allegedly sought a deferment of the merchant discount rate (MDR) rollout from October 15 to January 2027. These requests were reportedly made to both the Finance Ministry and the National Payments Corporation of India (NPCI), though no official sources have confirmed the development. The potential delay has added uncertainty to the stock’s short‑term outlook, as investors weigh the impact of regulatory changes on Paytm’s revenue streams.

Goldman Sachs analysts released a report highlighting potential tailwinds for Paytm. They noted that the NPCI’s postponement of the 30% market‑share cap deadline for UPI providers to December 31, 2026, could level the competitive landscape and benefit Paytm. The analysts incorporated the newly announced UPI MDR of up to 0.4% on person‑to‑merchant transactions exceeding ₹2,000, expected to take effect on October 15, 2026, into their financial models.

Based on the updated assumptions, Goldman Sachs raised Paytm’s earnings‑per‑share estimates by up to 39% and projected EBITDA upgrades of up to 40%. The analysts also identified upside from the scale‑up of Paytm’s Postpaid service and a potential relaunch of its wallet, citing strong underlying market share, revenue growth and margin momentum that they expect to continue.

Market sentiment was further dampened by the Reserve Bank of India’s decision to remove Paytm Payments Bank from the list of recognised scheduled banks after canceling its banking licence in April for non‑compliance with norms. The Delhi High Court subsequently ordered the winding up of Paytm Payments Bank Ltd, and the RBI stated that the bank has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934.

As of October 8, 2026, Paytm’s total market capitalisation stood at ₹1.07 lakh crore. From the beginning of the year, One 97 Communications shares have surged 29%; over a month’s time the stock has lost 0.3%, while in the six‑month period it has climbed over 49%. The company’s one‑year high was ₹1,855.50 on September 16, 2026, and its 52‑week low was ₹930.60 on March 30, 2026.