New Delhi, Business Desk. There is news of relief for the investors of Paytm. In two consecutive trading sessions after the initial public issue of Paytm’s parent company One97 Communications was listed, its shares had fallen by up to 40 percent. However, the shares of Paytm saw a jump in the trading sessions of Tuesday and Wednesday. At the time of writing the news, the shares of Paytm were seen trading at Rs 1717.10 with an increase of 14.88 percent on NSE. Its shares closed at Rs 1,494.70 on Tuesday.
In Tuesday’s trading session, the shares of Paytm saw a rise of up to 11.50 percent. At one time it was being traded on NSE at Rs 1515.90. The shares of Paytm were listed on November 18 and during the trading on the same day, it registered a decline of up to 27 percent. Till now no such bad listing of any tech company in the world was seen. Many market experts had questioned the valuation of the IPO considering its price.
According to Dr. Ravi Singh, Head of Research – Vice President, ShareIndia, the rise in Paytm’s shares is visible due to buying at lower levels. In addition, the company’s first board meeting is scheduled to take place on November 27. Given this, investors expect Paytm’s management to make some positive announcements. Paytm shares can touch the level of Rs 1800 in the coming few days.
Let us tell you that the IPO of Paytm was open from November 1 to November 3. Its price band was Rs 2,080-2,150. Its shares are still trading at a loss as compared to its issue price.
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