Business

Paytm Shares Decline Again After Sharp Rally In Previous Session: 5 Points


Paytm’s initial public offering (IPO) is priced at Rs 2,150.

New Delhi:
Shares of One 97 Communication – Paytm’s parent company – fell more than 3 percent on Friday. Shares declined 3.35 per cent to Rs 555.10 during late morning trading. It jumped 9.52 per cent to close at Rs 574.35 on Thursday. The digital payments firm issued the largest initial public offering (IPO) in India, but has since faced many challenges. The IPO was worth Rs 2,150.

Here’s Your 5 Things Scam Sheet For This Story:

  1. Paytm shares hit a record low of Rs 520 on Wednesday (March 23), 75.81 per cent lower than its issue price.

  2. The stock has been under great selling pressure after various analysts and trading experts raised concerns about the company’s valuation. Further, the BSE stock exchange has sought clarification from Paytm on the “significant” price movements.

  3. “We would like to reiterate that the company is committed to complying with the Listing Rules and any information/ announcements, which may relate to the price/ volume of the company’s shares will be disclosed, from time to time, to the shares. Exchange within the stipulated timeline,” Paytm said in response .

  4. “Paytm reached a new low, according to data if we look at it has eroded about 75 per cent of investor wealth over time. The company has wiped out more than Rs 1.03 lakh crore market cap with some events like RBI blocking new entry of clients and brokerage lowering its price.We can expect further price fall as there is no support, it may fall to Rs 425 level which may scare investors.Purchase is recommended after some price reversal with correct base formation and crossing above Rs 800 Level.Basically the quarterly results are well along with the right business guidance may raise the price which may be the right time to buy, ”said Manoj Dalmia, Founder and Director, Proficient Equities Ltd.

  5. “Paytm shares are in a continuous downtrend on negative sentiment and may hit the Rs 500-450 level in the near term. Investors must avoid this stock temporarily,” said Ravi Singh, Vice President and Head of Research, ShareIndia.

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