Dreamfolks Services Ltd. shares settled nearly 4% lower on the bourses after the closure of certain programs with Axis Bank and ICICI Bank.
This marked a third consecutive session of losses, with the stock tumbling 6% intraday.
The company stated that the deactivation of existing programs is part of its regular operations and it is taking actions to mitigate the impact.
Dreamfolks' shares have fallen significantly recently, with reports of major banks and card networks looking to part ways with the lounge access aggregator.