Paytm dives 42% in 3 days, rivals eye its merchant biz

For the third consecutive session, Paytm's stock plummeted by 10% on Monday, hitting the lower circuit amidst concerns regarding its payments bank operations. Meanwhile, competing payment firms set their sights on Paytm's merchant business, adding to the uncertainty surrounding the company. Furthermore, speculation swirled in the equity markets regarding Mukesh Ambani's Jio Financial Services potentially acquiring Paytm's operations.

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