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Paytm Stock Hit A New Record Low, Trading 78% Lower than IPO

Paytm Stock hit the record low

Paytm Stock hit the record low: One 97 Communications, the parent company of Paytm, saw its shares decline for the third session in a row and hit new one-year lows. Although no rapid rebound is anticipated for the stock, it dropped further 7.70% to a record low of Rs 440.35 as the downturn in the market persisted. The future is dismal according to technical charts, some of which project objectives as low as Rs 350.

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Paytm Stock hit the record low: Key Points

● Market capitalization (m-cap) for the company was Rs 29,361.31 crore, down about Rs 90,000.0 crore from its peak of nearly Rs 1.2 lakh crore.
● Paytm’s closing settlement for today was Rs 452.20, down 5.20 percent. The stock’s decline in the last month has been about 28%.
● When compared to the previous month, it has dropped 66% YTD.
● Paytm entered the market insignificantly in November of last year. Since then, the shares have frequently seen declines.

Paytm Stock hit the record low: All about Paytm and it’s IPO

Paytm is a Noida-based financial services and digital payments provider. Vijay Shekhar Sharma established it in 2010 under One97 Communications.
Paytm IPO issue price of Rs 2,150. While this was going on, rises in state-owned lenders enabled Indian market indices to trade higher for the second straight session today.
● The massive organizational issuing of shares by Paytm has had a negative impact on the stock valuation.

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