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    PAYTM   INE982J01020

ONE7 COMM

(PAYTM)
  Report
Delayed NSE India Stock Exchange  -  06:25 2022-12-02 am EST
536.95 INR   +7.16%
11/28Indian Banking Regulator Rejects Paytm's Application for Payment Aggregator License
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11/16SoftBank Plans to Sell Shares Worth Up to $215 Million in One97 Communications
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11/14556,615,004 Equity Shares of One97 Communications Limited are subject to a Lock-Up Agreement Ending on 14-NOV-2022.
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Paytm slips 6% on questions over CEO reappointment, regulatory fears

08/12/2022 | 01:37am EST
FILE PHOTO: Paytm founder and CEO Vijay Shekhar Sharma poses for a picture at a clubhouse of a residential building in New Delhi

BENGALURU (Reuters) - Shares of India's digital payments firm Paytm fell 6.2% on Friday, hit by a proxy advisory firm's opposition to reappointment of its chief executive officer and the central bank's guidelines for digital lending apps.

Institutional Investor Advisory Services has said it opposes the reappointment of Vijay Shekhar Sharma as CEO and managing director at the annual general meeting next week.

"Vijay Shekhar Sharma has made several commitments in the past to make the company profitable, however these have not played out. We believe the board must consider professionalizing the management," IIAS said in a report dated Aug. 9.

Paytm's parent One97 Communications Ltd, backed by China's Alibaba Group Holding and its affiliate Ant Group, posted a loss of 6.44 billion rupees ($80.83 million) for the June quarter last week, but said it was on track to achieve operational profitability by September 2023.

IIAS also raised concerns that Sharma's overall remuneration, estimated to be 7.96 billion rupees for fiscal 2023, was higher than that of CEOs of all the S&P BSE Sensex companies, most of which were profitable.

Adding to its woes, Paytm told investors on Thursday that the latest guidelines by the central bank on increased scrutiny over digital lending apps could operationally impact its buy-now-pay-later business.

"In the interim, we believe Paytm's lending business disbursement growth may be affected," Macquarie analysts wrote in a note.

Separately, Paytm said macro economic challenges may lead to "slight moderation" in its growth. The company posted nearly 300% jump in loan disbursals in July.

($1 = 79.6720 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Rashmi Aich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 4.79% 90.06 Delayed Quote.-24.19%
MACQUARIE GROUP LIMITED -1.02% 180.24 Delayed Quote.-12.25%
ONE7 COMM 7.16% 536.95 Delayed Quote.-59.77%
SENSEX BSE30 -0.66% 62868.5 Real-time Quote.7.92%
All news about ONE7 COMM
11/28Indian Banking Regulator Rejects Paytm's Application for Payment Aggregator License
MT
11/16SoftBank Plans to Sell Shares Worth Up to $215 Million in One97 Communications
MT
11/14556,615,004 Equity Shares of One97 Communications Limited are subject to a Lock-Up Agre..
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11/08Transcript : One97 Communications Limited, Q2 2023 Earnings Call, Nov 08, 202..
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10/09One 97 Communications' Paytm Logs 482% Jump in Loan Disbursements in Fiscal Q2
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09/06One 97 Communications' Paytm Clocks 484% Jump in Loan Disbursements in July-August Peri..
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08/29One97 Communications Limited Appoints Gs Sundararajan to Its Board
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08/27One97 Communications Limited Announces Board Changes
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08/22Indian shares down as IT, banks weigh amid weak global markets
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More news
Financials
Sales 2023 78 512 M 964 M 964 M
Net income 2023 -22 232 M -273 M -273 M
Net cash 2023 68 680 M 843 M 843 M
P/E ratio 2023 -16,1x
Yield 2023 -
Capitalization 349 B 4 282 M 4 282 M
EV / Sales 2023 3,57x
EV / Sales 2024 2,76x
Nbr of Employees 17 964
Free-Float -
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 536,95 INR
Average target price 915,00 INR
Spread / Average Target 70,4%
EPS Revisions
Managers and Directors
Vijay Shekhar Sharma Chairman, CEO & Managing Director
Madhur Deora President, Chief Financial Officer & Director
Manmeet Singh Dhody Chief Technology Officer-Payments
Abhishek Rajan Chief Operating Officer
Deepankar Sanwalka President-Operations & Compliance