Highlights
- Paytm shares fell 41 per cent in first two days
- Big investors took advantage of the opportunity and increased stake
- BlackRock Inc. And CPPIB bought more shares of the company
- Both these companies are among the anchor investors of Paytm.
Shares of the country’s largest digital payments company Paytm fell 41 percent in the first two days. This caused huge losses to retail investors. But many big investors of the company took advantage of the opportunity and increased their stake in Paytm. According to sources BlackRock Inc. And the Canada Pension Plan Investment Board bought more shares of Paytm on Tuesday and Wednesday. Both these companies are among the anchor investors of Paytm.
The stock of Paytm was listed on the stock market on last Thursday. On the first day, it closed with a decline of about 27 per cent from its issue price of Rs 2,150. It continued to decline on Monday as well. It fell 41 per cent in two days. But after that it was bullish on Tuesday and Wednesday. On Thursday also, it went up to Rs 1875 with a gain of 7 per cent in the opening trade.
Paytm stock rose 27% after falling 40%, know today’s condition
Whose investment
According to Bloomberg, there was no immediate information on how many shares of Paytm BlackRock and CPPIB bought this week. But representatives of both the companies declined to comment. Paytm’s shareholders include Warren Buffett’s Berkshire Hathaway Inc. and Masayoshi Son SoftBank Group Corp. Are included. But some analysts have questioned the company’s valuation. At the same time, he says that it is not known how long the company will be profitable.
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Macquarie Capital Securities (India) Ltd. Paytm has set a target price of Rs 1,200 for the stock, which is 32% lower than its Wednesday closing price. Experts say that the situation is not clear about when Paytm will turn profitable. Piyush Nagda, Head of Investment Products at Prabhudas Lilladher said that the price of Paytm shares will remain under pressure in the short to medium term. This is because IPO investors will try to exit it and new investors will not touch it till the sentiments change.
Share Market News: Share of Paytm fell 40% in two days, what should investors do now?
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