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.
Main Points
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.
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.
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.
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.
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.
