Paytm Share Update: Paytm’s investors are not taking the name of the end of the bad phase. Friday was even worse for Paytm’s shareholders. Had already fallen below Rs 1,000, now Paytm’s share has fallen to a low of Rs 952.30. At the close of trading, Paytm closed at Rs 960.30 per share.
Where does Paytm stop?
Heavy sales continue in Paytm’s stock. Since the IPO of the Paytm share, the valuation has fallen by more than 55 percent. Paytm’s market cap has fallen by more than Rs 77,000 crore since the downgrade of the brokerage. Before Paytm listed in the stock market, Paytm’s market value as per the IPO price was Rs 1.39 lakh crore and today the market cap has dropped to Rs 62,253 crore.
Real estate agency downgraded
Let us tell you that Paytm had conceived the biggest IPO in history of Rs 18,800 crore at a rate of Rs 2,150 per share. Since the stock’s listing, the trend of the share’s decline has continued. Recently, the founder of the company, Vijay Shekhar Sharma, has blamed this condition of Paytm’s stock for the wrong timing of the IPO. The reason for the decline in Paytm’s share is the new target of brokerage Macquarie Capital regarding Paytm’s share.
Macquarie lashes out at Paytm’s target
Foreign brokerage Macquarie Capital has expressed the possibility of a further decline in Paytm’s shares. Macquarie Capital has lowered Paytm’s target to Rs 900 per share. That is 58 percent less than the current issue price. Earlier, Macquarie had reduced Paytm’s target to Rs 1200. According to Macquarie, Paytm’s business model lacks direction. Making a profit is a big challenge for Paytm, he says.
Disclaimer: (The information provided here is for informational purposes only. It is important to state here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Everyone at ABPLive.com Money too investing is never advised here.)
read this too
Zomato Share: Zomato’s share fell below its listing price for the first time
ICICI Bank FD New rates: ICICI Bank’s gift to FD holders, the bank announced to give more interest, know the new FD rates