Foreign portfolio investors increased their shareholding in the Paytm operator to 20.64 per cent, while mutual funds also raised their stake to 6.15 per cent in the March 2024 quarter..
Paytm listed as One 97 Communications Ltd said on Tuesday Surinder Chawla, Managing Director and CEO of Paytm Payments Bank Limited (PPBL) has tendered his resignation on April 8, 2024. The firm said Chawla resigned on account of personal reasons and to explore better career prospects.
Following the development, the stock fell 9.77 per cent to hit a low of Rs 395.50 on BSE before recovering some ground. The Paytm stock was later trading at Rs 409.05, down 6.68 per cent.
Shares of Paytm (listed as One97 Communications) have slipped 30% in the last two weeks. On the other hand, the stock, which hit a 52 week high of Rs 998.30 on October 20 , 2023 ended at Rs 605.85 on December 15, 2023, falling 39.31% in the last two months. Market cap of Paytm fell to Rs 38,460 crore on BSE on Friday. Total 4.81 lakh shares of the firm changed hands amounting to a turnover of Rs 29.12 crore. The stock fell to a 52-week low of Rs 472 on December 23, 2022.