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Paytm fell 2.57 per cent to hit a low of Rs 525.60. It recovered some ground later and the scrip was trading at Rs 534.10 apiece, still down 1 per cent. Paytm shares had jumped 4 per cent in the previous two sessions
In a filing to BSE on December 8, Paytm said its management believes that given the company’s prevailing liquidity position, a buyback may be beneficial for its shareholders
Paytm share buyback: This buyback will not have any impact on Paytm's growth plans in the near future or on its profitability plans, says its parent One 97 Communications Limited
One 97 Communications Limited-owned Paytm will hold a board meeting on December 13 to consider a proposal for a share buyback, the fintech major disclosed to the exchanges.