2024-02-17 21:47:30
New Delhi: After the RBI action on Paytm Payments Bank, there has been a huge fall in the shares of its parent company One 97 Communications Ltd. Paytm’s stock has reached its lowest level of 52 weeks. Paytm shares have seen a continuous decline this week. However, on the last day of the trading week i.e. Friday, Paytm shares closed on the upper circuit with a rise of 5 percent. Paytm’s share is currently at the level of Rs 341.30. During trading, Paytm shares had once reached a low level of Rs 318.05. After this, there was a rise in it and the stock closed on the green mark with a bounce. The Reserve Bank of India (RBI) has allowed Paytm Payments Bank (PPBL) to allow deposits, credit transactions and top- Instructed to stop. Since then Paytm shares have been falling. Many investors investing in Paytm shares are still confused whether the stock will continue its rise in the next week or will see a decline again. What signals are being seen in Paytm’s stock?
There was a rush to buy Paytm shares, there was a huge surge in the stock, upper circuit was imposed.
More than 50 percent decline
After the action of RBI, Paytm’s shares have fallen by more than 54 percent in this month i.e. February. Last month, on January 31, Paytm’s share, which was trading above Rs 761, has touched its 52-week low level of 318.05. Paytm’s shares have fallen by more than 400 points. According to experts, Paytm shares may fall below Rs 300 in the coming time. Broking firms are downgrading Paytm amid huge fall in TM’s stock. Jefferies, Goldman Sachs and Motilal Oswal have downgraded the stock. Now it has declined further.
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Will the stock fall further?
According to experts, this action of RBI will not have a direct impact on the lending business of Paytm Payments Bank. Weakness is being seen in Paytm’s stock right now. In such a situation, further decline may be seen in the stock in the coming time. Many brokerage houses in their reports have indicated further decline in Paytm’s shares. However, before buying or selling any stock in the stock market, you must talk to your financial advisor once. If you do not do this, you may have to suffer financial loss.