New Delhi. Paytm Share Updates: After the continuous decline in the shares of Paytm, today there is a boom. The company’s stock had fallen by Rs 995 during early trading on Friday. But it accelerated as the day progressed. The share price of Paytm rose to Rs 1080.6 on the BSE against the previous close of Rs 1031.40. Which is trading with a gain of 2.9 percent.
Let us inform that in the initial trade, it had slipped below the level of Rs 1,000 for the first time after listing and came to a new low of Rs 995.2.
Due to this the rise in shares
Actually, the reason for the rise in the shares of the company was a report. According to this, Paytm Payments Bank has emerged as the largest receiver of UPI amount. The bank claims that it is the first beneficiary bank in the country to achieve more than 926 million UPI transactions in a month. This has been revealed in the data of National Payments Corporation of India (NPCI).
30% broken in 1 month
In the last one month, this stock has lost almost 30 percent. The company’s shares were listed on the stock market on 18 November. But these shares never touched their issue price. The high of this stock was Rs 1961 which was on the listing day itself. One97 Communications, the parent company of Paytm, has dropped its issue from Rs 2150 to below Rs 1100 within 50 days of listing. Meaning its price has come down by less than half.
why is the stock falling
Many brokerage firms have advised to sell this stock by reducing its rating. Mutual funds have also started withdrawing their money. Therefore, the confidence of investors has started to waver from these stocks. Its result is visible on the shares of the company.
Tags: Paytm, Paytm’s Vijay Shekhar Sharma, stock market