On January 24, Paytm shares have declined by over 58 percent. Paytm shares have hit their lowest prices since its listing. The company’s shares are down over 57 percent and are currently trading at a value of Rs 890 while its issue price was Rs 2,150. Paytm shares are under pressure hitting their lowest since their listing. There is a loss of almost 30 percent in the share prices in the last week.
The company is facing certain regulatory challenges. Moreover, a slowdown in merchant loans can be seen as opposed to the aggressiveness expected is also one of the reasons for the company’s downward journey.
The tech companies and various startups are under tremendous pressure. According to the analysts, corrections in global stocks have left these stocks to risk. Global markets are currently witnessing a sell-off mostly internet-based tech stocks and start-ups. Analysts say that higher inflation and risking bond yields are hurting new-age companies.
Two days ago, the market cap of Paytm fell as low as Rs62000 crore. Ravi Singhal, Vice Chairman at GCL Securities advises Paytm shareholders to exit on the bounce while the fresh buyers can take any position at current levels.
Several other tech stocks like Zomato, PB Fintech, Nykaa are also facing a slip in their share prices.
