For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Should You Buy Paytm Shares After A Drop To 52-week Lows, Here's What Experts Say

|

Shares in One97 Communications, the parent company of Paytm have fallen to a new 52-week low of Rs 1113. Brokerage firm Macquarie Securities India has slashed the price to 900, which rocked the stock once again. Here are some expert take on whether you should buy or sell the shares of Paytm.

 

1. Manoj Dalmia, Founder and Director at Proficient Equities Private Limited

1. Manoj Dalmia, Founder and Director at Proficient Equities Private Limited

Paytm Share plunged by 6% and is further down 1.48% making its all-time low. Paytm's payment business accounts for about 70% of revenue, which will be under threat if there are any regulatory changes . Also, its entry into insurance sectors has been rejected by regulators. The stock is trading at about 17 time FY23 sales which seems overvalued considering higher expenses and risk of attrition of senior executives.

Technical Analysis - Rs 1285 was a key support area, the price has crossed this level. We expect a small retracement till Rs 1336.35 if any buying happens and further downwards Rs 724.60

2. Ravi Singhal, Vice Chairman at GCL Securities
 

2. Ravi Singhal, Vice Chairman at GCL Securities

Paytm is oversold on the hourly chart of the Relative Strength Index, therefore buy in the range of 1100 to 1140, stop loss at 1077, target -1244.

3. Ravi Singh, Vice President & Head of Research, Share India Securities

3. Ravi Singh, Vice President & Head of Research, Share India Securities

Paytm's try into insurance was recently rejected by IRDAI, this could also impact its prospects of getting a banking licence. We expect Paytm to be more downside to touch the levels of Rs. 1050-1000 in near terms. Investors may remain cautious towards taking fresh positions in Paytm for time being.

Disclaimer

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article. The author and his family do not own any of the stocks mentioned above.

Read more about: shares to buy investment
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X