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Paytm Share Price: There is good news for investors investing in the shares of Fintech company Paytm. American financial service provider Citi (Citi) expects that Paytm’s stock can give excellent returns to investors in the coming days. According to Citi, Paytm stock has the potential to give returns of up to 85 per cent from its current level.
On Wednesday, the stock of Paytm closed at Rs 573, down 1.165 per cent. Citi believes that the Paytm stock can go up to Rs 1,061. That is, the stock can go above 85 percent from the current level. Citi has divided Paytm’s business into three verticals, valuing the payments business at Rs 454 per share. The financial services vertical has been given a valuation of Rs 388 per share and the e-commerce business at Rs 85 per share. By combining all these, the price per share becomes Rs 1061.
In February 2023, there was a good boom in the business of Paytm. A year-on-year growth of 286 per cent was seen in loan disbursement and it stood at Rs 8086 crore. The total merchant GMV has been Rs 2.34 lakh crore. Along with this, the customer base of the company is increasing. Due to which Citi is optimistic about Paytm stock. He believes that the stock has come down significantly from the IPO price, in which case Paytm is available at a very attractive level with limited downside risk.
Paytm’s IPO came in November 2021. The company had brought IPO at a price of Rs 2150 per share. The stock fell by 80 percent from the IPO price to Rs 440. But now the stock has recovered more than 30 percent from the lower level and is trading at Rs.573. When Paytm brought the IPO, the company’s IPO came at a value of Rs 1.39 lakh crore, which has now come down to Rs 37,198 crore.
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