Paytm is in the news today. With a resounding vote of confidence from shareholders, Vijay Shekhar Sharma has been reappointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Paytm. He received 99.67% of majority votes in favour of the resolution in its 22nd Annual General Meeting.
Despite the stock price crashing from its expensive IPO price, looks like investors have faith in the company’s leadership.
Following this news, the stock price rose to an intraday high at Rs.800, up over 3.5% but that’s a pitiable fall from its IPO price of Rs.2150.