The fall in Paytm did not stop, the stock reached the lowest levels ever

The company’s market cap at the issue price was Rs 1.39 lakh crore, currently the company’s market cap has come down to Rs 34 thousand crore.

Paytm at the lowest level ever

Paytm ,Paytm The decline in the stock of ) does not seem to be stopping. The stock has reached the lowest levels ever in Wednesday’s trading. The position is that BSE (BSE) acquired stock from Paytm’s parent company One97 Communications (Stock) has also sought an answer regarding this sharp decline. Since the listing of the stock, investors have lost more than Rs 1 lakh crore in this stock. The stock has never reached above its issue price. At the same time, brokerage houses have predicted further decline in the stock. Macquarie has target of 450 with further downside forecast for the stock. Which is also more than 10 percent below the current level.

Stocks hit all-time lows

The stock has reached the level of 520 on BSE today, which is the lowest level of the stock ever. On the BSE, the stock closed at 524.4, down 3.6 percent today. With today’s fall, the stock has lost more than 75 percent against its issue price of 2,150. The company’s market cap at the issue price was Rs 1.39 lakh crore, currently the company’s market cap has come to the level of Rs 34 thousand crore, ie investors have sunk more than Rs 1 lakh crore at the current level compared to the issue price. The stock had seen a decline from the day of listing. In view of this fall in prices, BSE has sought clarification from the company. The purpose of which is to bring all the important information related to stock movement in front of the investors. At the same time, One97 Communications said that the company is fully complying with all the rules related to disclosure of information and all such information which may have an impact on the stock is being disclosed as per the rules and at present there is no such information that the stock and which has not been issued to the investors.

Brokerage house reduced target

Macquarie capital securities have cut the target of Paytm only last week. The brokerage firm has reduced the target for Paytm to 450. That is, the stock has still been estimated to decline by more than 10 percent. The target given by the brokerage house is the lowest target given by any brokerage house for Paytm. According to the brokerage house, the hike in key rates by central banks is likely to impact fintech companies around the world. Recently, Paytm Payments Bank was banned by the Reserve Bank from adding new customers. Due to which difficulties have increased for Paytm. According to the brokerage house, difficulties may increase for Paytm in the coming times as the rules on digital payments by the Reserve Bank, and strict KYC rules will increase further pressure.

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