Two factors are driving attention to Paytm shares today, with the stock having risen 21% over the past 30 days.
Paytm has indicated that the potential transfer of its Entertainment business, part of its Marketing Services, is currently under consideration. In a recent earnings call, the company emphasized its focus on payment and financial services,
Paytm has indicated that the potential transfer of its Entertainment business, part of its Marketing Services, is currently under consideration. In a recent earnings call, the company emphasized its focus on payment and financial services, alongside digital goods commerce, aimed at facilitating business scalability for merchants.
Shares of One 97 Communications Ltd (Paytm) are attracting attention on Tuesday morning following the fintech major’s announcement of preliminary talks with Zomato to sell its movies and ticketing business. The company stated that it regularly explores strategic opportunities to enhance shareholder value. Additionally, the stock is in the news due to the resignation of Non-Executive Independent Director Neeraj Arora. Paytm has appointed Rajeev Krishna muralilal Agarwal as the new Non-Executive Independent Director of the company.
Paytm has stated that the potential transfer of its Entertainment business, part of its Marketing Services, to Zomato is currently under consideration. In a recent earnings call, Paytm emphasized its focus on payment and financial services, along with digital goods commerce, aimed at supporting merchant growth.
However, Paytm clarified that these discussions with Zomato are preliminary and do not involve any binding agreements that require disclosure under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, or other applicable laws. Therefore, any details regarding these discussions should be viewed as speculative at this stage.
Regarding Neeraj Arora’s resignation as Non-Executive Independent Director, Paytm attributed it to his pre-occupation with other personal commitments. His resignation will take effect from the closure of business hours on June 17, 2024. Consequently, he will no longer serve on Paytm’s “Nomination and Remuneration Committee” and “Investment Committee” as well.
Rajeev Krishnamuralilal Agarwal brings extensive expertise in Securities Markets, Commodity Markets, and Taxation, having served as a Whole Time Member at SEBI for five years. He also held a position at the Forward Markets Commission, the former regulator of Commodity futures markets, for five and a half years.
Despite a 21 percent rise in the past month, Paytm shares have declined by 34 percent year-to-date.
