Paytm Share Price: Paytm shares are taking flight these days. The shares of the company are trading at Rs 683.90 with a gain of 3.33% on BSE today. The stock opened today at Rs 675 in early trade. Global finance major Citi has given ‘BUY’ rating on Paytm stock and has set a target price of Rs 910. Which is about 34 percent higher than the current share price.
what is the opinion of the city
Citi believes the regulatory hurdles and profitability concerns facing the company are “too pessimistic,” but the valuation looks attractive and is worth investing in. Citi wrote in its note, “Since the IPO, the stock is down 70 per cent. The sync with global fintech de-ratings over the past six months has been compounded by potential regulatory headwinds and concerns about profitability in the payments vertical. We think these views may be too pessimistic. However, its valuation looks attractive at the current share price.
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The research firm said that several factors are visible for further growth in Paytm. The company’s profits may increase in future and the company has a strong customer base. There has been no shortage of it.
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Still 65% below issue price
Let us tell you that Paytm had kept the issue price of Rs 2150 in the IPO. The shares of the company have not yet reached this level. Paytm’s all-time high is Rs 1,961, which was recorded on the day of listing. The share of Paytm is almost 64% below its issue price. The shares of the company were listed on the market on 18 November 2021. It closed listing at Rs 1564, down 27 per cent on the day of listing as compared to its issue price of Rs 2,150.