Paytm Shares saw a nearly 5 percent hike after a fall for two days
Shares of the parent firm of Paytm One97 Communications Ltd witnessed a nearly 5 per cent rise in early trade on Tuesday (23.11.21) after falling for two continuous sessions.
The shares got closed at Rs.1,360 on Monday that is yesterday.
It was at 10 am today that the shares were trading on the BSE (Bombay Stock Exchange) at Rs. 1425.15, 4.77 per cent above, whereas on the other hand, the NSE (National Stock Exchange), the shares were trading 4.90 per cent higher at the same time.
It is to be noted that One97 Communications Ltd raised a record IPO sum but its debut trading left a bitter taste. This invited criticism against the company too.
Paytm shares on Monday, fell 17.78 per cent to Rs. 1,271 (at 1:03 pm) when compared with the offer price of Rs. 2,150 post falling more than 27 per cent on the listing day on November 18. As a result, the market value was cut to about $12 billion hitting many hard. The stock though recovered later in the day, but still ended over 12 per cent lower.
A strategist at KR Choksey Investment Managers Pvt Deven Choksey had said the stock price might not go down in a significant manner because 87 per cent of the issue was subscribed by institutional investors (who could always support the price).
Paytm pricing its shares at Rs.2,150 each, which has a figure higher than many. In fact, even after dipping sharply on the first day, analysts were of the thought that its shares were trading higher than most of its competitors. They also put up questions on its profitability and growth which was a matter of discussion.
India’s largest digital-payments provider Paytm had also released its financial details for October that incorporated the period ahead of the Diwali holiday, over the weekend. The fact stated by the company said the gross merchandise value rose 131% to Rs. 832 billion and loan disbursals hiked more than 400 per cent to Rs. 6.27 billion.
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