Paytm Share Prices: Share One97 Communications, which operates financial services platform Paytm, gained nearly 4 per cent on Monday after the company’s shareholders approved the re-appointment of Vijay Shekhar Sharma as the company’s managing director and chief executive officer. achieved. On August 21, Fintech’s parent company One97 Communications Ltd said that the proposal to re-appoint Vijay Shekhar Sharma as the Chief Executive Officer and Managing Director of Paytm was supported by 99.67 per cent of the shareholders who attended the company’s annual general meeting. Voted.
Paytm stock rose 3.65 per cent to Rs 800.05 today against the previous close of Rs 771.85 on BSE. Paytm shares were trading above the 20-day, 50-day and 100-day moving averages but below the 5-day and 200-day moving averages. However, the stock has lost 41.2 per cent in 2022 but has gained 5.64 per cent in a month.
Paytm’s market cap rose to Rs 50,904 crore on BSE. A total of 1.05 lakh shares of the firm changed hands with a turnover of Rs 8.33 crore.
The stock hit a 52-week high of Rs 1,961.05 on November 18, 2021 and a 52-week low of Rs 511 on May 12, 2022.
Paytm is India’s payment super app that provides comprehensive payment services to consumers and merchants. Paytm enables commerce for small merchants and distributes various financial services offerings to its consumers and merchants in partnership with financial institutions.
One97 Communications’ consolidated loss widened to Rs 644.40 crore in Q1 June 2022 from a net loss of Rs 380.20 crore a year ago. Revenue grew 89 per cent to Rs 1,680 crore in Q1 June 2022 as compared to Q1 June 2021.
Should you invest in Paytm shares?
Brokerage house ICICI Securities is bullish on the stock and has given investment advice with a target of Rs 1,285 in the latest report. In terms of current price, it can give a return of around 60 per cent.
Talking about the global brokerage house, Macquarie, in a recent report, has given a target of Rs 450, retaining the opinion of the underperformer on Paytm. While Morgan Stanley has given a target of Rs 785 giving equal weight rating.
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