Foreign portfolio investors' (FPIs) holding in Paytm has declined by 4.94 percentage points to 4.42 per cent in March 2022 quarter.
Shares of Paytm are expected to jump up to 20 per cent after overcoming the resistance at the 50-DMA.
Shares of Paytm declined significantly in recent times due to volatile market conditions for high growth stocks, the company's founder and CEO Vijay Shekhar Sharma said on Wednesday
Paytm shares declined due to volatile market conditions, says Vijay Shekhar Sharma
Anuj Mittal is expected to drive the paytm's corporate-investor relations, acting as a liaison between the management and investors
Stock slips 12.3% on Tuesday to end at a new low of Rs 592, as RBI ban on Paytm Payments Bank from onboarding new customers last Friday weighs
Paytm has elevated Madhur Deora to take on the additional responsibility as the CFO of One97 Communications Limited. Currently, Deora holds the role of the company's Group President and CFO.
Fear of withdrawal of easy money and lack of profits will likely weigh on these counters in the near-term
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Shares of One97 Communications-owned Paytm rebounded on Friday after a sharp fall in the past few sessions.
After dropping to a low of Rs 1,298 apiece, the stock finished at Rs 1,380, its lowest level since November 22, the second day of listing
The company had allotted 38.30 million equity shares to anchor investors at Rs 2,150 per share
The event in a way will nudge people to be cautious and not take the market for granted by blindly placing bets, says a market expert
Given the offer's aggressive pricing and the fact that One97 Communications, the parent company of Paytm, still remains a loss-making entity, most analysts had expected a sub-par listing
Market experts said domestic investors shunned the IPO as a high-risk bet
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Some brokerages like Marwadi Financial Services have sounded caution
This follows a directive from the Reserve Bank of India
Paytm continues to have market leadership by transaction volume
Digital payments major to raise Rs 8,300 cr fresh capital; Vijay Shekhar Sharma, SoftBank, SAIF to divest