Paytm stock hits new low

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New Delhi, Jan 13 | The Paytm stock has made a new low on Thursday as it fell further to Rs 1,054 on the BSE.

The stock was down 2.58 per cent 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 per cent on Monday at Rs 1,158.

Since November 18, 2021, Paytm’s stock price has fallen 40 per cent 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 per cent to 23 per cent for FY21-26E. We are roughly cutting revenue estimates for FY21-26E on an average by 10 per cent 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 per cent for FY22-25E owing to lower revenues and higher employee and software expenses. We cut our TP sharply by 25 per cent owing to a lower target multiple of 11.5x (Price to Sales ratio) (from 13.5x earlier) and lower sales numbers.

Source: IANS

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Go Unique Brings Attractive Blouse Designs - gounique.in

Go Unique Brings Attractive Blouse Designs - gounique.in

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