Jefferies Financial Group Inc. has ceased coverage on One 97 Communications Ltd., the operator of Paytm, until the news flow around the struggling Indian fintech major “settles down.” The move comes weeks after Jefferies downgraded Paytm to underperform following the Reserve Bank of India’s order for Paytm Payments Bank to halt key operations due to non-compliance. Paytm’s shares have lost over half their value since the regulatory intervention, prompting Jefferies to label the stock as “not rated.” The analysts predict Paytm’s focus will shift to customer retention, and the company may dip into its $1 billion cash reserves for user retention efforts.