Paytm’s share price is witnessing notable fluctuations in the market. The stock of One 97 Communications, Paytm’s parent company, opened at ₹717.65 and has shown a day range between ₹713.00 and ₹742.60. This comes after a significant rally earlier in the month, where shares surged by over 18% in late trading on October 8, closing at ₹753.60.
Main Points
Paytm’s stock has been on a rollercoaster ride lately, with a current price of approximately ₹717.65 as of today’s trading session. In the past month, the stock has gained around 8.7%, while it has surged an impressive 50.86% over the last three months. However, it remains 25.44% down from its 52-week high of ₹998.30 reached on August 20, 2023.
Analysts are optimistic about Paytm’s future performance. They suggest that if the stock maintains its momentum, it could reach an upside target of ₹860 in the near term. Some experts even predict potential highs above ₹1,000 within the next three months if current trends continue.
For investors keeping an eye on critical price levels:
- Resistance Level: ₹756 (a close above this could trigger further gains)
- Support Levels:
- First support at ₹664
- Second support at ₹650
A breach below these support levels could signal a downturn.
Recent Developments and News
Paytm has been making headlines for various reasons:
- The company recently sold its entertainment ticketing business to Zomato for ₹2,048 crore, which is part of its strategy to streamline operations and focus on core services.
- Despite facing challenges from regulatory bodies like the Reserve Bank of India (RBI), Paytm’s CEO Vijay Shekhar Sharma has expressed commitment to reapply for a payment aggregator license.
- Analysts from Emkay have upgraded their rating on Paytm to “add,” raising their target price to ₹750, reflecting growing confidence in the company’s recovery trajectory.
Market Capitalization and Financial Metrics
As of now, Paytm boasts a market capitalization of approximately ₹46,077 crore. Key financial metrics include:
- P/E Ratio: -24.27 (indicating losses)
- EPS (TTM): -29.86
- Price-to-Book Ratio: 3.50.
Trading Volumes and Activity
The trading activity for Paytm shares has been robust, with daily volumes averaging around 15 million shares across exchanges. The stock’s delivery volume percentage stands at about 29%, indicating strong investor interest.
