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Shares of Paytm’s parent company One97 Communications Ltd fell 5 percent in early trade on Friday. Behind this decline is a large block deal. According to data available on the exchanges, 1.6 crore shares of the company worth ₹1,441 crore were exchanged in this block deal. The number of these shares was 2.6 percent of the total equity of the company.
The money doubled within a year
Today, Paytm shares are trading at Rs. 920 after opening at a day high of Rs. had come to 877.15. Around 10 am it fell by 2.75 percent to Rs. was trading at 898. Paytm has returned over 25 percent in the last six months, while this year so far it has surged nearly 69 percent. At the same time, it has more than doubled its investors’ money in a year.
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Let us tell you that recently Paytm was in focus after Reserve Bank of India tightened norms for consumer loans. The RBI’s move to ask banks and NBFCs to set aside higher capital buffers may affect the growth of fintechs like Paytm, but the impact will not be huge.
Meanwhile, Jefferies said tightening regulations by banks and hike in interest rates could hurt Paytm’s earnings. Paytm has also been named as part of the MSCI Global Benchmark Index.
A note from IIFL Alternative Research estimates a potential investment in the stock of $140 million. On the other hand, a note from Nuwama Alternative and Quantitative Research said that the stock will receive an investment of $162 million.
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