Paytm Board Will Decide On Share Buyback Next Week, The Stock Gained 7 Percent Today
The stock of Paytm, which has been at the forefront of dipping investors' money, is seeing an increase today. Paytm's parent company One97 Communications has informed the stock market that the board may decide on a share buyback next week. There is an upward trend in the stock after the news.
The stock of Paytm, which has been at the forefront of dipping investors' money, is seeing an increase today. Paytm's parent company One97 Communications has informed the stock market that the board may decide on a share buyback next week. There is an upward trend in the stock after the news. Recently the stock touched the lowest level of the year. However, after this, buying has been seen after better estimates regarding the stock. After today's news, the growth in the stock has become even better. Many brokerage houses have given buy advice on the stock. At the same time, the management of the company has also given better estimates for the future.
Where did the stock reach today
Today the stock has seen a gain of more than 4 percent on BSE and today the stock has reached 542 against the previous closing level of 508. That is, the stock registered a gain of 6.7 percent today. The stock had hit a year low of 439 only last month. This means it has increased by more than 23 percent from the lower levels. However, the stock has been at the forefront of dumping investors' money in the domestic market and has seen a decline of more than 70 percent in comparison to its issue price. In recent times, the brokerage house has advised investing in the stock, due to which the sentiments regarding the stock have improved.
Decision on share buyback next week
On the other hand, today the giant company of the Fintech sector informed the stock market on December 8 that a board meeting is to be held on December 13, in which the decision to share buyback can be taken. The company has said that considering the liquidity and financial position of the company, the buyback decision will be in the interest of the shareholders. In share buyback, the company offers to buy back shares from its shareholders and the price offered is usually higher than the market price, which benefits the shareholders. In a recent presentation, the company management projected that it would turn profitable at the operating level by next year.