Paytm stock quotes: Shares One97 Communications, which operates the financial services platform Paytm, gained nearly 4 percent on Monday after company shareholders approved the reappointment of Vijay Shekhar Sharma as the company’s chief executive and general manager. The resolution to reappoint Vijay Shekhar Sharma as Paytm’s Chief Executive Officer and Managing Director was backed by 99.67 percent of shareholders who voted at the company’s annual general meeting, One 97 Communications Ltd, the fintech’s parent company, said. on August 21.
Paytm shares rose 3.65 percent to Rs 800.05 today from the previous close of Rs 771.85 on BSE. Shares of Paytm traded higher than the 20-day, 50-day and 100-day moving averages, but lower than the 5 and 200-day moving averages. However, the stock lost 41.2 percent in 2022, but rose 5.64 percent in one month.
Paytm’s market cap rose to Rs 50,904 crore on BSE. Total 1.05 lakh shares of the company changed hands, amounting to 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 to its consumers and merchants in partnership with financial institutions.
One97 Communications’ consolidated loss increased to Rs 644.40 crore in the first quarter of June 2022, from a net loss of Rs 380.20 crore a year ago. Revenue increased by 89 percent to Rs 1,680 crore in the first quarter of June 2022 from the first quarter of June 2021.
Should You Invest in Paytm Stocks?
Brokerage house ICICI Securities is bullish on the stock and has issued investment advice with a target of Rs 1,285 in a recent report. In terms of its current price, it can yield around 60 percent returns.
Speaking of the global brokerage firm, Macquarie has given a target of Rs 450, maintaining the underperformer’s opinion on Paytm in a recent report. While Morgan Stanley has given a target of Rs 785 which gives an equal weight rating.
The expert opinions and investment tips in this News18.com report are their own and not the website’s or its management. Users are advised to contact certified experts before making any investment decisions.
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