Paytm tells the BSE that its fundamentals are still strong
Paytm’s stock has dropped nearly 32% this month, to Rs 543.90 per share on the BSE as of Tuesday.
On Wednesday, One 97 Communications, the parent company of payments platform Paytm. State that their business fundamentals remain strong and that no information/announcement may impact the price/volume behavior of the stock that has yet to be disclose on the bourses.
Paytm’s stock has dropped nearly 32% this month, to Rs 543.90 per share on the BSE as of Tuesday. However, it also stated that the company had made all required disclosures to the stock exchanges within the time frame specified.
“We would like to regurgitate that the company is committee to complying with the Listing Regulations and any information/announcement. Likely to have a bearing on the price/volume of the shares of the Company would be disclose, from time to time. To the Stock Exchanges within the stipulated timeline,” the company started in a filing to the BSE.
They are Paytm announce in response to a query from the BSE.
On Tuesday, Asia’s oldest stock exchange sought clarification from One 97 Communications regarding the significant movement in the stock price to ensure. That investors have the most up-to-date information and protect investors’ interests.
Paytm’s stock has dropped by 75% since its initial public offering (IPO).
As a result, Paytm shares have dropped nearly 75% from their offer price to an all-time low of Rs 541 apiece on the BSE as of Tuesday. After making a shaky debut in the stock market in November last year.
The Reserve Bank of India (RBI) executed Paytm Payments Bank earlier. This month to halt new customer onboarding immediately and conduct a comprehensive audit of its IT system. Citing “material supervisory concerns.” Since the central bank announced this measure, the stock has dropped more than 30%.
