The Bombay Stock Exchange (BSE) has sought a clarification from Paytm's parent firm One 97 Communications Ltd over the sharp fall in its share prices, Moneycontrol has reported.
BSE has not specified what the "significant movement" is even as the stock has come to a fourth of the IPO price
The Bombay Stock Exchange (BSE) has sought a clarification from Paytm's parent firm One 97 Communications Ltd over the sharp fall in its share prices, Moneycontrol has reported.
"Exchange has sought clarification from One 97 Communications Ltd on March 22, 2022 with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded," BSE said, adding that a "the reply is awaited".
The exchange has not specified what the "significant movement" is even as the stock has come to a fourth of the IPO price.
Paytm's share has been bleeding after listing in November 2021.
Recently, Paytm share price made its life-time low of Rs 550.50 apiece levels on NSE, losing around 58 per cent in year-to-date (YTD) time.
However, Macquarie Capital Securities (India) Pvt sees more downside in the stock as it has slashed Paytm share price target for 4th time expecting it to go further down at Rs 450 apiece levels.