New Delhi: Shares of One97 Communications-owned Paytm rebounded Friday after a sharp fall in the past few sessions.
Notably, the shares hit an all-time low of Rs 1,000 recently. Friday, the shares settled 8.2 per cent up at Rs 1,116 per share.
Brokerage house Macquarie in its latest report lowered its target price for the share to Rs 900 from Rs 1,200 and retained its ‘underperform’ rating.
Besides, citing lower revenue and higher employee as well as software costs, it projected 16-27 per cent losses for the company during FY22-FY25.
Since the listing on the exchanges on November 18, 2021, it lost around 29 per cent of its value. It was one of the worst debutants on the Indian exchanges.
At present, Paytm’s parent company One97 Communications’ total market capitalisation is worth Rs 72,350 crore, NSE data showed.
IANS
