Vijay Shekhar Sharma, the founder of One97 Communications, which owns digital payments company Paytm, wrote in a letter to shareholders that the company wants to break even by the end of September next year. Sharma also said that if Paytm’s stock price kept going up for a long time, he would get his stock grants. It would be before taxes, depreciation, and amortisation that the business would break even on an operating level, Sharma said.
On Wednesday morning, when the company filed the letter with the stock exchanges, its shares went up. Their closing price on the BSE was Rs 637.15, up 4.57 per cent from the start of the day. The benchmark Sensex index was down 0.94 per cent for the day.
If you bought shares of the company last year, they were sold for Rs 2,150 each, but now they’re worth less than half that.
Paytm’s Share Price Has Risen More Than 20% in a Week. It’s What Other People Say
Paytm’s share price has been going up for more than a week. The fintech stock has jumped more than 20% in the last five days. Paytm shares started the day with an upside gap of about 11 per share. They went on to hit an intraday high of 657.40 per share on the NSE, which is where they opened. In the last week, the price of Paytm shares has risen from about 535 each to about 645 each, which is about a 20% rise.
Stock market experts say that after the Paytm management made a statement on Wednesday, the market is buzzing with short-term positive feelings, and the stock broke out again at 620 apiece on Wednesday when it closed. said that Paytm share prices are likely to keep going up shortly. Positional investors should wait until the company’s Q4 results come out before deciding on the fintech stock.
After the recent consolidation phase, Paytm shares have been going up. Anuj Gupta, a Vice President for Research at IIFL Securities, said this: “Paytm shares have been going up.” It broke out again at 620 levels at the end of Wednesday’s session. They have a good chart pattern for their stock. It has support at 575 levels right now, but it has problems at 720 and 750 levels each, so it needs to keep going. In this example, “The stock should move between 610 and 750, and if it breaks out on either side of that range, we can see what the next direction is.”
Paytm Stock Rose 4% After the Company Said That Operating Ebitda Would Break Even in September 2023, Which Is in 2023
Announcing the operating results for the last quarter of 2021-22, the company that owns Paytm’s parent company, One97 Communications, saw its share prices rise more than 4% after the news.
That’s what Paytm CEO Vijay Shekhar Sharma thinks will happen in about six quarters. Meanwhile, the company told the exchanges that it reached a new milestone in the lending business and saw a lot of growth in merchant payment volume in the last three months. Paytm stock has become “attractive,” says Morgan Stanley, a few weeks after they cut their target price. Morgan Stanley sees a lot of room for growth and says the stock has a lot of room to grow.
People who own One97 Communications, which owns Paytm, saw their stocks rise for a second day on Thursday. Paytm reported a rise in loan disbursements for the quarter ending March 31.
Paytm shares rose as much as Rs 19.9, or 3.1%, to Rs 657 on BSE.
Morgan Stanley kept its ‘equal-weight’ rating on Paytm and set a target price of Rs 935 for the stock, which is now worth about the same. At the One97 stock’s closing price on Wednesday, the brokerage’s target shows that the stock could rise by 46.7 per cent.
The brokerage also said that the company’s gross merchandise value (GMV) is growing at a steady rate with strong growth in the number of people who use the service each month.
Paytm released a quarterly business report on Wednesday that said its total GMV in the fourth quarter of FY22 was about Rs 2.59 lakh crore ($34.5 billion). That’s up 104 per cent from the same period last year.
A lot more loans were given out by the company, too. According to the update, the number of loans that were given out through its platform went up by 374 per cent over the last year to 6.5 million loans. 417 per cent more money was loaned out than last year, it said.
Paytm’s Share Price
Paytm One 97 Communication has shares that aren’t on the stock market. Details:
There are 50000 shares available.
Each equity share has a value of 1. The ISIN number is INE982J01020 and the lot size is 10 shares.
This is how much each Equity Share is an Unlisted Company cost right now: 2700.
Paytm Share Is Called What?
Paytm One 97 Communication Unlisted Shares: Here are some of the details about these unlisted shares. People who own Paytm’s stock call it “one97 communications.” In India, Paytm is the best place to buy things like mobile recharge,
DTH, data cards, and metro cards. You can also pay your cell phone bill there.
Is Paytm Going to Get Into Trouble?
An Indian government official says that Paytm Payments Bank, which processes digital transactions for the country’s most valuable unicorn, Paytm, has broken the country’s data storage rules. It was on March 11 that the Reserve Bank of India (RBI) put a stop to the payments bank from getting new customers.
Shares of Paytm May Rise
We can expect to see a lot of growth after the stock breaks through at 1100. If you want to buy this stock for a long time, you can hold onto it for up to two years with a target of 1800.
Today, Paytm shares are worth 618.90 INR.
Many people in the market saw the stock’s debut as a sign that investors had grown tired of a recent string of IPOs with high valuations. People who work for Aequitas Research say that “most of the domestic institutional investors don’t seem to be interested in the IPO of Paytm.” He said that the stock was being sold for 27 times its enterprise value/gross profit for FY24, which was more than Zomato’s 21.3 times. He also said that both Ant and SoftBank were important.
When Paytm’s Sharma told Reuters that “one day does not decide what our future will be.” “It’s a new business model, and it takes a lot of time for someone to understand it right away.” There is a lot we can do for the markets and the people who work in them.
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