Business & Investment

paytm: Freefall: Paytm’s share price fell another 4% to a lifetime low

New Delhi: On Friday, brand owner One 97 Communications shares plunged to their 13th low in the last 14 sessions in the sale of Internet-based tech stocks.

upon NSE, Scrip reached a lifetime low of Rs 952, down about 4%. It is currently down 56% from the IPO price of Rs 2,150. The company’s market capitalization has dropped to a low of 62,000 rupees.

A new era of high-tech peer Zomato stock, PB FinTech And Car Trade are also on a downtrend. On Friday,

It decreased by about 6% and decreased in 4 consecutive sessions. PB Fintech fell 5%, while Car Trade fell more than 1%. Even one of the few highly profitable e-commerce companies has fallen by more than 1%.

Paytm is now even closer to the counter’s most bearish target price of 900 rupees. Macquarie Analysts have also set Paytm’s first fall tone when the stock is listed on the exchange.

One 97 Communications, the largest initial public offering (IPO) on Daral Street, was listed on many fanfares two months ago. But things have changed a lot since then, and even analysts associated with merchant bunker have set goals far below IPO prices.

The most bullish target will peg the share price at Rs 1,875 over the next 12 months, almost double the current level. Stock prices are not stable, although securities firms and management have shown bullishness.

paytm: Freefall: Paytm’s share price fell another 4% to a lifetime low

https://economictimes.indiatimes.com/markets/stocks/news/freefall-paytm-shares-fall-another-4-to-hit-lifetime-low/articleshow/89038621.cms paytm: Freefall: Paytm’s share price fell another 4% to a lifetime low

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