Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

Paytm responds to BSE query, says has "no information" that may be leading to sharp declines in shares

The Bombay Stock Exchange had written to fintech giant Paytm seeking clarification on why its shares had been plummeting, and asked it to make relevant disclosures in case there was anything that could be pertinent to shareholders.

Paytm responds to BSE query, says has "no information" that may be leading to sharp declines in shares

Wednesday March 23, 2022 , 2 min Read

Paytm, in response to a query from the Bombay Stock Exchange, said its business fundamentals remain robust, and it has "no information" that may have any bearing on its stock's price-volume behaviour.

It added there is no information that could potentially impact its share price that it hasn't already disclosed to regulators.

The Bombay Stock Exchange (BSE) on Wednesday wrote to Paytm asking it to disclose to the market any information that may be resulting in the significant movement in its share prices.

"Exchange has sought clarification from One 97 Communications Ltd on March 22, 2022, with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded," BSE said.

Paytm's shares have fallen 75 percent from their issue price of Rs 2,150 in November. Over the last two weeks, its shares have continued to steadily decline, hitting new record lows.

PayTM founder on why organizations should hire women in leadership roles

Paytm founder Vijay Shekhar Sharma at a YourStory TechSparks event

The Reserve Bank of India, last week, banned Paytm Payments Bank from onboarding any new users citing "certain material supervisory concerns".

Shortly after, a source-based report emerged that stated Paytm had been leaking data to Chinese companies that were indirect shareholders in the fintech firm - a claim Paytm vehemently denied saying the news report was "false" and "sensationalising".

Paytm's shares opened slightly higher on Wednesday, but were down 0.28 percent at the time of filing this report, from their close on Tuesday.


Edited by Anju Narayanan