Paytm share price: The stock of Paytm made a strong comeback from its low levels on Thursday and saw an increase of about 5 percent. Looking at the strong trend in the Indian stock, Paytm’s shares opened with a gain of Rs 16.65 and touched an intraday high of Rs 795.80. If we look at its life time low of Rs 728.05, the stock of Paytm has climbed 9 per cent from its low levels in the last two days. At present, the stock of Paytm remains at Rs 775 with a strength of 3.38 per cent at 3 pm.
According to stock market experts, the stock of Paytm is gaining momentum with the help of short term positive sentiment on Dalal Street.
Shares got out of trend in two days
Expressing the expectation that the stock of Paytm will continue to rise, Anuj Gupta, Vice President, IIFL Securities said, “Paytm shares had seen a fall from the oversold zone. In the last two days, this downtrend has come out of the trend and can go from Rs 850 to Rs 900 in the near term to Rs 900 in the short term. Buying can be done in Paytm Shares at the prevailing price for a short term target of Rs 900 while maintaining the stop loss of Rs 720.
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Paytm share is getting at good valuation
Ravi Singhal, Vice Chairman, GCL Securities, said, “Paytm has recently announced a strong focus on online banking operations and services, which is expected to generate good business volume for the fintech company in the long term. The stock has taken a beating post listing, so it is available at a good valuation and one can buy Paytm shares for a target of Rs 1,375 and Rs 1,800 over a period of 1-2 years. However, it is advisable to maintain the stop loss at Rs 728.05.
Losses widened in December quarter
Paytm’s consolidated loss has increased to Rs 778 crore for the quarter ended December 31, 2021. The company’s loss in the same quarter last year was Rs 532 crore. However, on a quarter-on-quarter basis, Paytm’s loss in the September 2021 quarter was Rs 482 crore. In the December 2021 quarter, Paytm has seen a good increase in income from work. The company’s revenue increased by 89% to Rs 1456 crore. The major drivers of revenue growth have been merchant payments through MDR instruments, new device subscriptions and loan disbursement. In the same quarter last year, the revenue of Paytm was Rs 772 crore.
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