BSE on Tuesday sought clarification from Paytm’s dad or mum firm, One 97 Communications Ltd, over the sharp fall in its share costs after the inventory hit one other all-time low right now.
“The trade has sought clarification from One 97 Communications Ltd on March 22, 2022 just about important motion in value, to be able to make sure that traders have newest related details about the corporate and to tell the market in order that the curiosity of the traders is safeguarded,” the Bombay Inventory Change (BSE) mentioned in a notification.
Shares of One97 Communications Ltd, the dad or mum agency of Paytm, tanked 4 per cent intraday to hit an all-time low of Rs 541.15 on the BSE on Tuesday. The market cap of the agency fell to Rs 35,915.27 crore. The shares ended the day 3.79 per cent decrease at Rs 543.90.
Shares of the corporate have been on a downward pattern for fairly some time now. The inventory is down almost 72 per cent when in comparison with an all-time excessive of Rs 1,961 it touched in November final yr on the day of its debut.
Just lately, world monetary main Macquarie slashed its goal value for Paytm to Rs 450 per share, citing regulatory headwinds, together with a falling likelihood of getting a banking licence.
This was the second time that the worldwide brokerage agency slashed its goal value for the corporate. It had initiated protection on the inventory in November final yr with a goal value of Rs 1,200, which was minimize to Rs 700 final month.