Paytm share price at fresh 52-week low, down 70% from IPO price: Buy, Sell or Hold?
Paytm Share Price NSE, BSE, Paytm Share Price Target: Paytm share price on Tuesday, November 22, tanked more than 9 per cent to hit a fresh 52-week low of Rs 483.20. Technical analyst Nilesh Jain has given a Sell call on the stock.
Paytm Share Price NSE, BSE, Paytm Share Price Target: Shares of Paytm tanked on Tuesday, November 22, to hit a fresh 52-week low. The stock opened at Rs 535 apiece and selling pressure dragged the stock to hit the day's low of Rs 483.20 apiece. At 10:20 AM, it quoted Rs 491.70.
The stock of One97 Communications, the parent of the digital payments giant Paytm, is currently available at a discount of 70 per cent from the IPO issue price of Rs 2,150. Paytm IPO, the second biggest in the country's corporate history after LIC, made had made its debut on the stock exchange at a discount of 9 per cent.
According to technical analyst Nilesh Jain, the view on Paytm is negative. He has given a Sell call on the stock with a target range of Rs 450-460.
"The structure is weak. There is a structural breakdown from 8-month consolidation," he said.
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With PIT inputs
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