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.
It held a 17.5% stake in Paytm in September 2022 later it trimmed its ownership through multiple open market deals. After this sale, the company s stake in Paytm’s parent One97 Communications went down to 2.83 percent from 5.01 per cent earlier.
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.
Stocks that share market analysts recommended on September 7: Stock brokerages have come out with research reports on select stocks namely Coal India, JK Lakshmi Cement, BHEL, and Paytm. Here s what brokerages said about these counters.