ट्रेंडिंग

Paytm Share Price will be bullish again after 715.85, know what is the confirmation

WhatsApp Group Join Now
Telegram Group Join Now

Paytm’s share price is currently trending at ₹739.50 as of October 11, 2024. This represents a gain of ₹7.50 or 1.02% from the previous trading session. Investors are closely monitoring the stock’s performance as it navigates through a volatile market landscape.

Current Paytm Share Price Market Overview

As of today, Paytm’s share price reflects a significant recovery from its 52-week low of ₹310. The stock has shown resilience, achieving a 52-week high of ₹998.30 earlier this year. The market capitalization stands at approximately ₹44,259 crore, indicating strong investor interest despite previous challenges faced by the company.

Recent Paytm Share Price Action

In recent trading sessions, Paytm has demonstrated positive momentum:

  • Day Range: ₹676.80 – ₹773
  • Previous Close: ₹732.00
  • Opening Price: ₹726.00
  • Trading Volume: Approximately 12 million shares traded today.

The stock has gained approximately 22.73% over the past month, reflecting a recovery trend after a challenging year where it faced significant declines.

Paytm Share Price Technical Analysis

Key Support and Resistance Levels:

  • Support Level: ₹680
  • Resistance Level: ₹800

Analysts suggest that breaking above the resistance level could lead to further gains, while failure to hold above the support level may indicate a pullback in price.

Future Paytm Share Price Targets

Market analysts have set optimistic targets for Paytm’s stock. Morgan Stanley recently assigned an equal-weight rating, projecting that the stock could reach around ₹935, which would represent a potential upside of approximately 44% from current levels. This forecast is based on expected improvements in revenue and operational efficiency.

Financial Performance Insights

Despite its recent price recovery, Paytm continues to grapple with financial challenges:

  • The company reported a net loss of ₹1,476 crore for FY 2023-24.
  • It has consistently posted a negative return on equity (ROE) for three consecutive years.

However, there are signs of growth in revenue, with a reported increase of 27.09% year-over-year, indicating that while profitability remains elusive, the company is expanding its top line.

Paytm Share Price Market Sentiment

Investor sentiment around Paytm remains mixed. While some analysts advocate for holding shares due to potential long-term growth prospects, others caution against volatility and recommend close monitoring of market conditions. The stock’s beta value indicates lower volatility compared to the broader market, which may appeal to risk-averse investors.

Kuldeep Singh

Kuldeep Singh is an experienced Hindi and English news writer with nearly 4 years of experience in the media industry. He loves to read and write news related to technology, automobile and business. He has covered all these sections extensively and presented excellent reports for the readers. Kuldeep Singh has been trying to provide correct and accurate information to the readers on Local Haryana for the last 1 year.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button