
Paytm releases operating performance for May; here’s how stock reacted
The fintech company disbursed ₹5,502 crore loans in May through Paytm platform, while for quarter to date (for April & May 2023) it stood at ₹9,618 crore.
The fintech company disbursed ₹5,502 crore loans in May through Paytm platform, while for quarter to date (for April & May 2023) it stood at ₹9,618 crore.
SVF India Holdings (Cayman)Ltd, a SoftBank arm, sold a 2.07% stake in Paytm between February 10 to May 8, 2023.
The net loss of the fintech major dropped to ₹168.4 crore in Q4FY23, against a loss of ₹761.4 crore in the same period of the previous year.
The stock price got a boost amid a report that Sunil Mittal is seeking a stake in Paytm by merging his financial services unit into Paytm Payments Bank.
The Jack Ma-founded firm, which held 6.26% direct stake in Paytm as of December 2022, sold a partial 3.1% shares in January and the remaining 3.16% stake on February 10.
Paytm parent One97 Communications shares surged 35% in the last four sessions as investors cheered its December quarter earnings.
Paytm share price rallied 20% to hit an intra-day high of ₹669.60 on the BSE on Tuesday after some foreign brokerages recommended “Buy” rating on the stock.
On Wednesday, shares of One 97 Communications gained as much as 5.5% to hit an intraday high of ₹541.50 on the BSE.
Investors remained skeptical about buyback size and route through which the company intended to repurchase shares.
Shares of Paytm fell 2.5% to ₹441 on Thursday, about 80% lower from its IPO issue price of ₹2,150.