Connect with us

Business

Paytms’ bad run continues on D-Street, shares drop more than 17%

Published

on

 


Poor payments in the stock markets continued on Monday as shares of its parent company One97 Communications fell more than 17% around 12 noon.

The stock plunged 17.45% on the Bombay Stock Exchange, retreating for the second consecutive session after falling nearly 28% on Thursday.

Paytm shares fell to Rs 1,376.35 on the National Stock Exchange at 11:40 am, down 11.82% from its previous close. On BSE, Paytm shares slipped 12.73 percent to Rs 1,365.05. On BSE, Paytm shares opened to Rs 1,500, then slipped further as investor sentiment remains weak. By noon, Paytm shares had plunged more than 17%.

The business collapsed despite a sharp rise in the gross value of its merchandise, which more than doubled to Rs.195,600 crore due to higher spending for the holiday season.

Explained: Why Paytms Mega IPO Received Low Response From Big Investors

PAYTM BAD TRAFFIC CONTINUES

The Paytms share price has collapsed by more than 40% in just two trading sessions, compared to its IPO issue price of Rs 2,150. In the previous session, the disaster of the Paytms stock market has eroded investor wealth worth Rs 38,000 crore. The amount of losses rose further as Paytms shares fell again today.

Investors remain concerned about the stock after several analysts raised concerns about the stock’s high valuation. Foreign brokerage firm Macquarie recently wrote a detailed research note, criticizing Paytms’ high valuation and future challenges.

“Paytm has been a money-burning machine, running several lines of business with no visibility into profitability. Unless Paytm lends, it can’t make a lot of money just being a distributor,” indicates the research report.

WHAT THE BROKERS ARE SAYING

A number of other brokerages have also expressed concern about the company’s shares, given the weak sentiment. Some analysts expect the Paytm share price to remain subdued in the near to medium term, with investors approaching it cautiously due to current volatility and general market sentiment.

Paytms’ stock market debut on Thursday was one of the worst among recent IPOs of new-age digital startups, including Zomato, Policybazaar, and Nykaa. The stock lost more than a quarter of its value on the day of the listing and has fallen further today.

View | An infographic on India today: the IPO of Paytm

Sources

1/ https://Google.com/

2/ https://www.indiatoday.in/business/story/paytm-share-price-falls-bse-nse-expert-view-on-stock-1879433-2021-11-22

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]