paytm share price Listed today at 9% off Against IPO issue price of 1950 on NSE 2,150 per equity share. Paytm’s parent One97 Communications’ three-day initial public offering (IPO) was launched on 1 November and concluded with a price band on 3 November. 2,080-2,150 per share.
Stock market experts’ advice to investors who have got Paytm shares through allotment is to exit on bounce back while maintaining the stop loss below 1720 per share level. He added that those looking to add fintech stocks to their portfolio are advised to look at other options.
Speaking on the Paytm share listing, Parth Nyati, Founder, Tradingo said, “The company is making losses and has no signs of turning profitable in the near future. Aggressive investors seeking allotment can hold the stock with a long-term outlook. Investors who applied for listing benefits can exit on bounce back.New investors are advised to look for other opportunities where other new edge companies can perform much better than Paytm. We feel that the brand has led the company to demand higher valuations and it may see improvement in the near future.”
Incorporated in 2000, One97 Communications is India’s leading digital ecosystem for consumers and merchants. It provides users with a wide range of services – payment services and financial services.
Advising investors to look at other options in the fintech segment, Santosh Meena, Head of Research, Swastika Investmart Ltd. said, “I would suggest that only aggressive investors should hold this stock for long term amid the uncertainty, where I believe. Is that Bajaj Finserv is a better option. Play on Fintech businesses as Bajaj Finserv has a proven track record with a lot of comfort of valuation as compared to Paytm. Those who play for listing profit should keep the stop loss below . 1720, which is 20 per cent less than the issue price.”
Meanwhile, brokerage firm Macquarie Research on Thursday launched an underperform rating on Paytm owner One97 Communications ahead of its listing, saying its business model lacks focus and direction. It has lowered its target price to 1,200 per share, 40% less than its issue price 2,150.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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