Paytm Board To Consider Share Buyback, Stock Declined 69% From 52-Week High

One97 Communications, parent entity of renowned Indian mobile payments and financial services company Paytm, is all set to consider the proposal of share buyback, according to BSE filing of the company. The last trading price of the stock is Rs 508 apiece after a marginal intraday decline of 0.28%. Check key takeaways below:

1. One97 Communications To Consider Share Buyback On December 13

The board of directors of the company said in the BSE filing dated December 8, 2022, "We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, December 13, 2022 to consider a proposal for buyback of the fully paid-up equity shares of the Company, in accordance with the applicable provision under the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 (as amended), and other applicable laws."

2. One97 Communications Stock Outlook

The last trading price of the stock is Rs 508 apiece with 52-week high at Rs 1645 apiece and 52-week low is Rs 439 apiece. The company has a market capitalisation of Rs 33,003 crore.

3. One97 Communications Return

The stock gained a little over 1% in last 1-week, declined 22% in last 1-month, 28% in last 3-months, and 67% in last 1-year.

4. About One97 Communications

One97 Communications Ltd. is India's leading mobile-internet company. It offers digital goods & services to mobile consumers under Paytm brand.

One97 also provides mobile mobile advertising, marketing and payments for merchants. One97 is backed by marquee investors SAIF Partners, Intel Capital, SAP Ventures and Silicon Valley Bank and has offices in India, Middle East and Africa.

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