Thursday, July 25, 2024
Outlook India
Outlook Business

Paytm Shares

In the morning trade, the 30-share BSE Sensex benchmark slumped 288.71 points or 0.39 per cent, while NSE Nifty fell 71.55 points to 22,141.15.

Since Friday, the Paytm stock has experienced a rebound, surging by over 21 per cent from Thursday's closing price of Rs 325.

Despite a firm beginning, the stock tanked 9.41 per cent to Rs 450 on the BSE. At the NSE, it plunged 9.31 per cent to Rs 450. 

Paytm sees an impact of Rs 300-500 crore on its annual operational profit, as its customers will not be able to add money to their wallets, FASTags, etc after the latest development.

The company's market capitalisation (mcap) also eroded by Rs 9,646.31 crore to Rs 38,663.69 crore in early trade

An audit by Indian Highways Management Company Ltd found that the Paytm Payment Bank was not following the parameters prescribed in the service-level agreement (SLA)

Macquarie has raised its target price on the stock to about 80 per cent at Rs 800, raising FY23–26E revenue estimates to 33–51 per cent