Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News
Whatsapp

Paytm Stock Goes Lower Than Its Former Scale

IANS
IANS
Meet the voice behind Indo-Asian News Service (IANS), a storyteller navigating the currents of global events with precision and depth. Crafting narratives that bridge cultures, IANS brings you the pulse of the world in every word

The Paytm stock made a new low on Thursday as it fell further to Rs 1,054 on the BSE.

The stock was down 2.58 percent in trade and has continued its losing spree after a recent downgrade by Macquarie.

Foreign brokerage Macquarie said on Monday there are no signs of headwinds abating at Paytm as it slashed the target price to Rs 900.

One 97 Communications or Paytm stock was down almost 5.95 percent on Monday at Rs 1,158.

Since November 18, 2021, Paytm’s stock price has fallen 40 percent vs. Sensex’s flat performance, Macquarie said.

Post the various business updates and results, Macquarie said, “The revenue projections, particularly on the distribution side, is at risk and hence we pare down our revenue CAGR from 26 percent to 23 percent for FY21-26E. We are roughly cutting revenue estimates for FY21-26E on an average of 10 percent every year due to lower distribution and commerce/cloud revenues offset partially by higher payment revenues.

“We cut our earnings (increase our loss projections) by 16-27 percent for FY22-25E owing to lower revenues and higher employee and software expenses. We cut our TP sharply by 25 percent owing to a lower target multiple of 11.5x (Price to Sales ratio) (from 13.5x earlier) and lower sales numbers.

The Latest

Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Recommended