Paytm Crash: Shares Plunge 10%, What’s Next? Dive In, Decode the Downfall
Price Plunge Alert
Sharp Dip Detected Today’s trading scene opened with a jolt for Paytm’s shares, diving straight to a new 52-week low. Picture this: a nosedive to Rs 342.15 on NSE, and barely inching higher at Rs 342.40 on BSE. Fast forward a bit, and we see a slight climb to Rs 344.80, but the vibe? Still down by 9.30%.
2024’s Forecast
Target Adjustment Here’s the scoop: Macquarie, the global broking heavyweight, just slashed Paytm’s price target to Rs 275 from a lofty Rs 650. Why, you ask? A revenue rut across the board. The shadow of customer exodus looms, thanks to some fresh regulatory twists. Macquarie’s verdict? “Underperform”. Ouch.
Today’s Update
Market Mood The stock’s not just hitting a 52-week low; it’s at its all-time floor. With a sector lag of -8.98%, it’s been a rough couple of days, showing a -17.97% return recently. Opening today? Down by -6.62%. Talk about a tough crowd.
A Look Back
Regulatory Rumble Over the past month, Paytm’s shares took a 50.25% hit. The RBI’s clampdown on PPBL (Paytm Payments Bank Ltd) is no small drama. From March, no more deposits or wallet top-ups. The reason? A laundry list of non-compliances and ongoing supervisory concerns.
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