
Paytm share surges 14% in three days; here’s why
On Wednesday, shares of One 97 Communications gained as much as 5.5% to hit an intraday high of ₹541.50 on the BSE.
On Wednesday, shares of One 97 Communications gained as much as 5.5% to hit an intraday high of ₹541.50 on the BSE.
The main focus of the SEBI board meeting seemed to be about measures to enhance accountability of people within the system, and assessment of risks
SEBI board also increased the minimum utilisation of the amount earmarked for buyback through the stock exchange route from existing 50% to 75%.
The Hinduja Group company to buyback 60 lakh shares worth ₹1,020 crore at ₹1,700 apiece, a premium of 21% from Monday’s closing price on the BSE.
Investors remained skeptical about buyback size and route through which the company intended to repurchase shares.
The board of Paytm has approved a share buy back plan at ₹810 apiece, a premium of 50% as compared to current market price, to encourage shareholders to sell the shares back to the company.
The board of Paytm parent One 97 Communications will consider a share buyback proposal on December 13.
The board of Bajaj Consumer Care will meet on December 9 to consider a proposal for the buyback of equity shares.
The market regulator has proposed to shift the incidence of tax on buyback from the company to the hands of shareholders.
The board of Infosys on Thursday approved to buyback of 5.02 crore equity shares of the face value of ₹5 at ₹1,850 per share for about ₹9,300 crore.