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Paytm Share Price: In the last three trading sessions, the stock of fintech company Paytm has given tremendous returns to the investors. Due to its excellent quarterly results, Paytm’s stock has gained almost 30 percent in the last three trading sessions. At the close of the market on Wednesday, Paytm closed at Rs 676 with a jump of 15 per cent.
On February 3, 2023, the stock of Paytm closed at Rs.525. But in the three trading sessions of this week, the stock of Paytm rose by 31 per cent to Rs 698. Paytm’s stock has gained Rs 150 in just three trading sessions. This is the fastest jump in Paytm’s stock since its listing on the stock exchange in November 2021. The market cap of Paytm is Rs 43,891 crore.
The news of relief for Paytm’s stock has come from foreign brokerage house Macquarie. Macquarie has double upgraded Paytm’s stock from underperform to outperform. The brokerage house believes that the stock can go up to Rs 800. It was only after this upgrade that the stock saw an intraday jump of 18.5 per cent. Last year, Macquarie had given sell advice on Paytm’s stock and predicted the stock to go up to Rs 450.
However, the stock of Paytm is still trading 69% below its issue price of Rs 2,150. While the stock has gained 54 per cent from its low of Rs 440. Paytm’s parent company One97 Communications has announced its quarterly results, according to which the company’s loss in the third quarter has come down to Rs 392 crore, which was Rs 778 crore in the same quarter a year ago. The company’s revenue has increased by 42 percent to Rs 2062 crore, which was Rs 1456 crore a year ago.
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