Paytm Shares Fall 4% Following Ceo Resignation Of Paytm Payments Bank

Paytm Shares Fall 4% Following Ceo Resignation Of Paytm Payments Bank

11 April 2024 – The parent company of Paytm, One97 Communications, recently saw its shares decline by 4%, hitting a company of Rs 388. This decrease coincides with the departure of Paytm Payments Bank’s CEO and managing director, Surinder Chawla.

As per our disclosure on February 26, 2024, the board of PPBL has been reconstituted with five independent directors, including an Independent Chairperson, and no nominees from the Company.

As part of our company endeavors, we continue to work with our banking partners to improve our UPI and merchant acquisition services. For now, the business functions exclusively as a third-party UPI service provider, much like rivals PhonePe and Google Pay. 


Conclusion

Paytm’s share price has dropped 4.5% in the last five days and more than 58% in the last six months. With the stock wiping away roughly 40% of investors’ assets in the last year and 75% in the last five years, investors have seen a significant erosion of value. By contrast, the benchmark Nifty 50 index has proven to be resilient, increasing by almost 15% over the last six months and 0.8% over the last five days. The index has doubled investors’ money over the last five years, yielding a 29% return over the last year.