Paytm shares: The share of Paytm’s parent company One97 Communications slipped 2.8 percent to Rs 732.35 from its previous all-time low on the Bombay Stock Exchange (BSE). At this level, the digital payments company’s stock is down 66 per cent from its issue price of Rs 2,150.
Around 3.30 pm, Paytm’s stock was down 1.89 per cent at Rs 739.20. Its market cap has come down from Rs 50,000 crore to Rs 47,660.04 crore.
Shares fell 6.86 percent in five days
In the last five days, the stock has reduced the wealth of its investors by 6.86 per cent, while the benchmark Sensex has lost 0.43 per cent.
Paytm stock continued to decline as negative trend dominated the market amid rise in crude oil prices due to Russia-Ukraine war. It’s been 13 days since the Russo-Ukraine war and investors are on alert. However, Sensex and Nifty made a strong comeback in the last one hour after the day’s pressure. While the Sensex gained 581 points at 53,424, the Nifty closed at 16,013 with a gain of 150 points.
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Most of such companies caused damage
According to Harish Krishnan, executive VP and senior equity fund manager at Kotak AMC, these businesses are long-term options instruments. While talking to CNBC-TV18, he said, “Even though some such companies have given good returns, most of them will only make losses.” “If you look at such stocks, you should have a very long-term view,” he said.
Krishnan said, Kotak AMC would like to invest less in this and how it progresses, then the future strategy will be decided.
Market at a low of 7 months, these strong stocks are getting cheap, can make money in the long term
No hurry to invest in this sector
Axis Mutual Fund head (equities) Jinesh Gopani said last week that it would love the sector, but the outcome data and capital allocation are going to be crucial, which will determine its profitability path. “It is an area worth investing in, but there is no rush,” he said.
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