Authored by : Varun Yadav Updated Jun 9, 2024 | 01:39 PM IST Photo : ET Now Digital Paytm share price target 2024.
Paytm stock settled at Rs 381.30 apiece, against the previous day close at Rs 346.65 apiece.
Paytm share trading strategy In an exclusive conversation with ET Now Swadesh , market expert Pradeep has suggested trading strategy for Paytm stocks during its consolidation stage.
He has recommended to 'hold' to investors who are having the Paytm stocks as they are in the consolidated stage.
Paytm Q4 FY24 result Paytm' revenue for Q4 FY24 tanked to Rs 1,698 crore, against Rs 2137 crore in Q3 FY24.
Authored by : Varun Yadav Updated Jun 9, 2024 | 01:39 PM IST Photo : ET Now Digital Paytm share price target 2024.
Stocks of Paytm (One97 Communications) hit the 10% upper circuit on Friday, June 07, when the market indices touched their all-time highs. Paytm stock settled at Rs 381.30 apiece, against the previous day close at Rs 346.65 apiece. After a stark downfall post RBI's action against its Payment Banks, stocks of Paytm have been climbing upward around 14.50% in the past one month.
The jumps in Paytm stocks came after the National Stock Exchange (NSE) revised the circular filter limit from 5% to 10% earlier. The exchanges changed the circular filter limit from 20% to 5% after RBI's action leading to successive lower circuits to avoid market manipulation.
What should investors do at this moment for Paytm stocks? Let's understand with the expert and know share trading strategy.
Paytm share trading strategy In an exclusive conversation with ET Now Swadesh , market expert Pradeep has suggested trading strategy for Paytm stocks during its consolidation stage.
He has recommended to 'hold' to investors who are having the Paytm stocks as they are in the consolidated stage. But he warns to avoid any fresh buy of the stocks due to overall downfall. "Don't buy until it crosses resistance," he adds.
He says that the stocks will come to sustainable stage once it crosses Rs 405 apiece mark.
Paytm market cap According to BSE analytics, Paytm boasts a market cap of Rs 24,236 crore. The stock has a face value of Rs 1 each. The stock's 52-week movement indicates a high of Rs 998.30 and a low of Rs 310.
Paytm Q4 FY24 result Paytm' revenue for Q4 FY24 tanked to Rs 1,698 crore, against Rs 2137 crore in Q3 FY24. The net losses for Q4 FY24 stayed around Rs -566 crore, against Rs -253.60 crore in Q3 Fy24.
Poor performance since IPO Paytm stocks have given poor returns since the launch of IPO two years back. The two-year return of the stocks stood at -38.26% as per BSE analysis.
RBI's action on Fintech RBI ordered Paytm's banking subsidiary Paytm Payments Bank to wind up its business over consistent regulatory breaches and negligence. Paytm closed its banking business March 15, 2024 onwards which included top-ups, wallets, and FDs.
Paytm tied up with other banks to continue its UPI transaction business.
