PayTM Stock Price News
PayTM Stock Price News: On Friday, the stock closed at Rs 1,116 per share, up 8.2 per cent. After the poor listing of Paytm shares in the stock market, now the statement of Founder Vijay Shekhar Sharma has come to the fore. Vijay Shekhar Sharma blamed bad timing for Paytm’s flop listing (Paytm IPO). In fact, within about 50 days of the listing of the shares of Paytm’s parent company One97 Communications, its issue has come down from Rs 2150 to shares had hit a low of Rs 1,000 recently.
Speaking at IAMAI’s India Digital Summit 2022, Vijay Shekhar Sharma said that Paytm’s IPO came at a time when the market was affected by various factors. Paytm’s success will depend on what it does with monetization led by financial services. Payment is a revenue line item which is growing in a big way. In this quarter, we are talking about raising $100 million in revenue from payments. People underestimate the size of payment revenue. He also claimed that Paytm is seeing high revenue at low cost.
let us tell you that foreign brokerage house Macquarie has reduced the stock price of Paytm’s shares. Macquarie has reduced the target price of Paytm shares to Rs 900. Earlier, Macquarie had given a target price of Rs 1200 for Paytm shares.
In the report, the brokerage firm said that we cut our earnings by 16-27 per cent for FY22-25E due to lower revenue and higher employee and software expenses. “We have sharply cut our TP (Target Price) by 25 per cent due to a lower target multiplier of 11.5x (price-to-sales ratio) (from 13.5x earlier) and lower sales numbers,” the brokerage said.
almost two months, the company’s market cap was Rs 1.39 lakh crore at the issue price. Since then, the company’s stock has seen a decline of about 52 percent. Due to which the market cap of the company has seen a decline of about Rs 71 thousand crores. At present, the company’s market has come to Rs 67500 crore. The company has moved to the 77th position in the overall market cap ranking as per BSE data. Whereas it was ranked 50th on the day of listing. This means that the company has lost 27 points of ranking.
Paytm on Friday has announced to shut its Canada Business-to-Consumer (B2C) app to focus all its resources on the India business. The development comes two months after a dismal debut on the exchanges.
“This has no relation or impact on the Canada-based Paytm Labs or Paytm’s India business or revenue. We continue to stay committed to our mission of driving financial inclusion in India,” Paytm said in a statement on Friday.