Paytm Share Target Price: No Stopping the Plunge, What's the Target Price?

Paytm Share Target Price: No Stopping the Plunge, What’s the Target Price?

The decline in the shares of fintech company Paytm shows no signs of slowing down. During Tuesday’s trading session, shares of Paytm’s parent company One97 Communications plummeted by as much as seven percent. Following the action by the Reserve Bank of India, Paytm shares have seen continuous declines. Since the RBI’s action, Paytm shares have witnessed a decline of nearly 48 percent in the past 13 days.

Stock Drops from 761 to 380 On January 31, the closing price of Paytm’s shares was ₹761. By Tuesday morning, the stock price had dropped to ₹390 per share. Paytm shares opened at ₹403 this morning, reaching an intraday high of ₹408, before plummeting to ₹380.

Potential Banking Business Losses After the RBI’s action on Paytm Payment Bank, according to Reuters’ report, Macquarie downgraded Paytm shares. It expressed concerns that a significant number of customers might withdraw from this share. Taking this risk into account, it downgraded Paytm shares.

In a note from a global brokerage firm, it was stated that lending partners are reconsidering their relationships with Paytm. If partners reduce their support or terminate their association with Paytm, Paytm’s lending business will suffer significant losses.

Paytm’s Target Price On February 1, stock brokerage firm Motilal Oswal downgraded Paytm stock to ‘Neutral’. The brokerage house stated that they are monitoring the company’s business model and its ability to handle uncertain regulations and macro-environment. Motilal Oswal said that they are waiting for clarity on the business landscape before making a move. They revised Paytm’s share target price to ₹575.”

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