Paytm Stock Update: During intraday on BSE, the share price decreased by 5% to Rs 990 per share. Paytm launched its biggest IPO in a decade in November.
Paytm has launched the biggest IPO
Paytm has launched the largest IPO in the last decade. Based on the issue value, it was Rs 18,300 crore. Since its listing on November 18, 2021, the stock has lost about 54 percent from its issue price of Rs 2,150 and about 50 percent from its listing price of Rs 1,950. At the close of trading on the January 19 session, shares of Paytm fell 2.29 percent to close at Rs 997. Due to this, the stock closed at Rs 1042.50 in the previous session.
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Macquarie gave the third report on Paytm
In its report published on 10 January 2022, brokerage firm Macquarie maintained an ‘underperform’ rating on Paytm Stock (One97 Communication). It has also made a big cut in its target price. Macquarie is already quite bearish on Paytm. At the time of the IPO, Macquarie had set a target price of Rs 1250, where the issue price was Rs 2150. The target price of Macquarie stock has been reduced from Rs 1,200 to Rs 900, citing risk in revenue estimates. This was Macquarie’s third report on Paytm.