Paytm Stocks Downgrade: There is a sharp decline in Paytm shares today. Due to various reasons this company is constantly in trouble. A huge fall of 10 percent has been seen in Paytm's shares in today's trading. Ever since the sword of RBI action fell on Paytm, the company's shares seem to be in constant trouble. The situation of 'bitter gourd on top of neem' happened when Paytm shares witnessed a sharp decline today due to another big reason.
Macquarie downgrades Paytm shares
Actually, foreign brokerage firm Macquarie has downgraded the shares of Paytm. Macquarie has given Paytm's parent company One 97 Communications Limited an 'underperform' rating and reduced its target price to Rs 275. Earlier, Macquarie had given a target of Rs 650 for Paytm's shares and in this new rating, the broking firm has estimated a decline of 57 percent in the target price of its shares.
Paytm faced a decline of 10 percent today
After this news came this morning, the shares of Paytm fell drastically and the stocks of the company which was already facing crisis fell drastically. Today's low level of the share is the lowest level of this share till date and it has made a low of Rs 380.10. The problem is that the target price given by Macquarie is Rs 100 more below its today's low level. If the stock goes down further to this level, then almost all the capital of its investors will be lost.
Today the stock slipped 80.55 percent below its one year high
After touching its 52-week high of Rs 1955, the stock fell to Rs 380.10 per share today, which is 80.55 per cent lower than its 52-week high. Given the thin condition of the shares, investors who have held the shares since the time of IPO have suffered huge losses.
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