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Sunday, May 19, 2024

Paytm share price crosses Rs 722, stock rises by 5%; Here’s why

The share price of One 97 Communications, which makes the payment wallet software Paytm, saw  significant rise on May 8, Monday. The share price of the firm has increased by 5.2% and is now above Rs 722.

The majority of financial analysts believe that the share price will go over Rs. 1000. In light of this, it begs the question: what exactly is it that has caused such a significant increase in the value of Paytm’s stock? So, let’s find out…

The decrease in the company’s deficit led to a restoration of the boom. The loss that Paytm incurred in the fourth quarter that ended in March was reduced to Rs 167.5 crore. In comparison, at the same time last year it was Rs. 762.5 crore. In the fourth quarter of fiscal year 23, consolidated revenue from operations climbed by 51.5% to 2,334.5 crore, up from 1,540.9 crore in the previous quarter.

Because it has been able to cut its losses, analysts predict that the firm will soon begin to turn a profit. Because of this, Paytm stock has increased by 11.5% over the course of the last year and by 27% over the course of the past month.

The initial public offering (IPO) price range for Paytm was between 2,080-2,150 rupees. After then, the price of the stock dropped by seventy percent, resulting in significant financial losses for those investors who had purchased it.

Goldman Sachs has projected that the price will reach 1,150 rupees. Paytm stock has been assigned a target price of Rs 1,150 by Goldman Sachs for the next 12 months. The analysts at Goldman Sachs stated that they will not change their Buy recommendation.

Our research has led us to the conclusion that Paytm’s current share price represents one of the most successful and widely used financial technology platforms in India.

While everything is going on, Motilal Oswal has set a target price of Rs 900 for the Paytm shares. Paytm shares now have a target price of Rs 1144 that has been set by Citi.

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