Paytm Records Fresh All-Time Low on Friday; Sell-Off Continues for 14th Session

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Paytm Records Fresh All-Time Low on Friday; Sell-Off Continues for 14th Session

By Malvika Gurung

Investing.com -- Shares of the fintech player Paytm (NS: PAYT ) further declined 1.83% to Rs 977.15 apiece at 1:36 pm, after declining almost 2% to record a new all-time low of Rs 975 on the NSE, in Friday’s session.

The digital payments stock has been plummeting since the past 14 sessions and recorded its recent all-time low of Rs 990/share on Jan 19, 2022, backed by heavy volumes.

Trading at Rs 983.3/share, the stock has tanked 54.2% from its issue price of Rs 2,150. Paytm was listed on November 18, 2021, and was the biggest public issue on Dalal Street. Ever since its public listing in two months, the stock has not once posted a profit.

It has failed to cross its issue price of Rs 2,150 since its listing.

Paytm’s stock is lesser than 10% from reaching the most bearish target price of Rs 900/share set by Macquarie earlier this month.

Despite the company’s CEO Vijay Shekhar Sharma posting a strong outlook on improving Paytm’s business performance, with a larger focus on revenues from the payment service and rising credit card business last week, the counter has been witnessing heavy sell-offs.

Paytm opened at a discount of 9.3% against its issue price on the NSE at Rs 1,950/share and was subscribed less than 2 times the shares on offer.

On Jan 10, 2022, brokerage firm Macquarie lowered its target price on Paytm’s stock from Rs 1,200 to Rs 900 while maintaining its ‘underperform’ rating.

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  • Priya Darshan @Priya Darshan
    How to buy
    Like 0
    • Naveen JP @Naveen JP
      why you want to buy this stock?
      Like 0
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      100
  • Rakesh Prasad @Rakesh Prasad
    Its heading for 10 Rs / share. Its remind me the Reliance power (Anil Ambani) in 2006. Its CEO has no idea at all how stock market works.
    Like 7
    • Chandra Shekar @Chandra Shekar
      Anil ambani knows very well about stock market works BY BIRTH
      Like 0
    • Chandra Shekar @Chandra Shekar
      Anil ambani knows very well about stock market works BY BIRTH
      Like 0
    • Chandra Shekar @Chandra Shekar
      Anil ambani knows very well about stock market works BY BIRTH
      Like 0
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