Paytm clarifies on shares hitting all-time low; says biz fundamentals robust

Paytm parent company One97 Communications clarified in a late-night BSE filing that its business fundamentals remain robust, and that they have no information that may have a bearing on its share price. The clarification comes after the exchange sought a clarification from the company on the sharp fall in its share prices. Paytm stock had hit fresh lows on Tuesday. 

One97 said that the company has been complying with SEBI regulations and has made all necessary disclosures to stock exchanges. 

“Further, as on date, there is no information/announcement, which in our opinion may have a bearing on the price/ volume behaviour in the scrip of the Company and which is yet not disclosed to the Stock Exchanges. The Company would also like to point out the business fundamentals remain robust as demonstrated in our last earning release dated February 04, 2022,” it clarified. 

The Bombay Stock Exchange, on Tuesday, sought clarification from the company with reference to the “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,” it said in a notification. 

This notification came after shares of One97 Communications tanked 4 per cent to hit an all-time low of Rs 541.15 on the BSE. The market cap of the firm fell to Rs 35,915.27 crore. The shares ended the day 3.79 per cent lower at Rs 543.90.

Shares of One97 have been on a downward trend for a while, with the stock dipping nearly 72 per cent from an all-time high of Rs 1,961 it had touched on the day of its market debut.

Also read: BSE seeks clarification from Paytm after shares plunge to all-time low

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