According to One97 Communications, the business has complied with SEBI requirements and provided all required disclosures to stock exchanges.
One97 Communications, the parent company of Paytm, explained in a late-night BSE filing that its business fundamentals remain strong and that it has no information that could affect its stock price. The company provided the clarification after the exchange requested it in response to the dramatic drop in its stock price. On Tuesday, Paytm’s shares reached new lows. According to One97, the business has complied with SEBI laws and has made all required disclosures to stock markets.
“Furthermore, as of today, there is no information/announcement that we believe may have an impact on the price/volume behavior of the Company’s scrip and that has not yet been disclosed to the Stock Exchanges.” “The Company would also like to emphasize that our business fundamentals remain strong, as evidenced by our most recent earnings release dated February 4, 2022,” it added.
The Bombay Stock Exchange asked the company for clarification on the “significant price movement” on Tuesday, “in order to ensure that investors have the most up-to-date relevant information about the company and to inform the market so that the investors’ interests are safeguarded,” according to a notification.