Paytm Shares Continue to Decline, Market Cap Plunges Below

Paytm shares price: After falling by about 27 percent after being listed on Thursday, Paytm shares today again fell by about 10 percent on morning offers. Stocks to initiate digital payments today opened with a minimum gap of R51.80 per share and continue to lose about 17 percent from their listing date closing at R1560.80 per share on the NSE. The price of Paytm shares today is 1286.60 (12: 31AP) on the NSE, which is about 40 percent lower than its high price band of 2150 per share.

After a gradual emergence of Indian bridges, on Thursday Paytm released the financial details for the month of October, covering a critical period ahead of the Diwali holiday. Sales volume increased by 131 percent to 832 billion rupees ($ 11.2 billion) per month, the company said. Loan disbursements, which analysts see as key to turning Paytm into profits, have risen by more than 400 percent to 6.27 billion rupees.

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After this release; Deven Choksey, a strategist at KRChoksey Investment Managers Pvt, said, “The stock price may not be as high as 87 percent of the problem registered by institutional investors, who can always support the price.”

However, Ravi Singhal, Vice-Chairman of GCL Securities said, “Paytm profits are below the scope as it faces stiff competition in the market, to avoid taking any new position in it and those with shareholders should wait to go back and get out. “

Paytm Shares Continue to Decline, Market Cap Plunges Below
Paytm Shares Continue to Decline, Market Cap Plunges Below

Highlighting the high value of the Paytm IPO

Highlighting the high value of the Paytm IPO, stock market experts Suresh Ganapathy and Param Subramanian wrote in the paper, “Considering the hottest Paytm business model, there is no clear way to make a profit, high risk of business control and questionable business management,” We believe that the company is critical to the end of the ₹ 2,150 price tag. “

Paytm owned by One97 lost more than 25 percent of its value on its first trading day, marking one of the worst investments ever made by a major technology company and blowing cold air due to the growth of the stock market ranked among the busiest companies in the world, The IPO has been hailed by some as a sign of the country’s growing demand as the capital of the world, especially for investors looking for alternatives to China.

However, Paytm CEO

However, Paytm CEO Vijay Shekhar Sharma is not concerned about the ongoing collapse of the company’s stocks which is showing a decline as “there is no indication of our company’s value.”

The 43-year-old said in an interview with Bloomberg News on Thursday, “We have been here for a long time. We put our heads down and take them out. “

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