Paytm says it has ‘Robust’ Fundamentals

On Tuesday, the oldest stock exchange of India and Asia- Bombay Stock Exchange (BSE) has asked for a clarification from the parent company of Paytm, One97 Communications over the steep fall in the company’s stock price. In response to the clarification, One97 told BSE that its fundamentals are strong and ‘robust’ and the same could be seen in the company’s latest earnings which it released on February 4th, 2022. The company said: “We would like to reiterate that the company is committed to comply with the listing regulations and any information/announcement, likely to have bearing on the price/volume of the shares of the company would be disclosed, from time to time, to the Stock Exchanges within the stipulated timeline.” Paytm share price has plunged almost 75% since it went public in the month of November last year. The company had raised its IPO at ₹2,150, but currently, its shares are hovering around Rs. 540. The company’s market capitalization also decreased from $19.9 billion to $4.6 billion on Wednesday, March 23.