Paytm share price rises to 3-week high | Check latest on BSE
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Loading... - Aadhya Babu
- 06 Apr 2022
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Paytm's share price extended gains on the stock market on Thursday to hit a near three-week high level. This comes after the digital payments firm announced that it is aiming to be operationally profitable by September next year.
Paytm, backed by China's Ant Group and Japan's SoftBank Group Corp, raised $2.5 billion in India's biggest initial public offer (IPO) last November, but its shares made a dismal debut on the stock market on widespread concerns over its high valuation. Shares have lost more than 70 per cent from its IPO price of Rs 2,150.
PAYTM SHARE PRICE
Paytm's share price on Thursday touched Rs 641.75.
You can check Paytm share price on BSE at https://www.bseindia.com/stock-share-price/one-97-communications-ltd/paytm/543396/ .
Shares rose as much as 4.3 per cent on Wednesday to a near three-week high of Rs 635.4.
PAYTM STATEMENT
"We are encouraged by our business momentum, scale of monetisation and operating leverage," founder Vijay Shekhar Sharma said in a letter to shareholders.
"We expect this to continue, and I believe we should be operating earnings before interest, taxes, depreciation, and amortization (EBITDA) breakeven in the next six quarters," Sharma said.
Sharma said his stock grants would vest only when the firm's market capitalisation crossed the IPO level on a sustained basis.
PAYTM SHARE PRICE HISTORY
Paytm shares also suffered after the central bank last month barred its payments bank from adding customers, and ordered a comprehensive audit of its IT systems, citing "material" supervisory concerns. Read More...
