Paytm Stocks Downgrade: Paytm shares are down sharply today. Due to various reasons, this company is constantly facing difficulties. Shares of Paytm have seen a massive 10 percent fall in today’s trading. Ever since the RBI crackdown on Paytm, the company’s shares have continued to see trouble. The ‘Kerala over Neem’ situation came as Paytm shares saw a sharp drop today due to another big reason.
Macquarie Downgrades Paytm Shares
In fact, foreign brokerage firm Macquarie downgraded Paytm shares. Macquarie has given Paytm’s parent company One 97 Communications Limited an ‘underperform’ rating and cut its target price to Rs 275. Earlier, Macquarie had given a target of Rs 650 for Paytm shares and with this new rating, the broking firm has estimated a 57% cut in its target price for the shares.
Paytm suffered a 10 percent drop today
Shares of Paytm plummeted after the news broke this morning and the company, which was already facing a crisis, fell sharply. Today’s low is the stock’s all-time low and has made a low of Rs 380.10. The problem is that the target price given by Macquarie is Rs 100 higher than today’s low. If the stock falls further below this level, its investors will lose almost all of their capital.
Today the stock fell 80.55% below its one-year high.
After touching a 52-week high of Rs.1955, the stock fell as low as Rs.380.10 per share today, down 80.55% from its 52-week high. Given the thin condition of the shares, investors holding the shares have suffered huge losses since the time of the IPO.
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