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Why the steep fall in stock price does not make Paytm attractive

Concern for Paytm is not just limited to its lofty valuation and lack of profitability

November 23, 2021 / 02:55 PM IST
Why the steep fall in stock price does not make Paytm attractive

Paytm listing: Vijay Shekhar Sharma rang the opening bell at the Bombay Stock Exchange.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Paytm’s IPO created a record in the primary market by being the largest issue of all times, but its magic didn’t work in the secondary market. Paytm’s stock continued its downward trend after a weak trading debut on bourses. The stock has  tumbled by around 37 percent from its issue price, eroding a market value of over Rs 50,000 crore in the first 2 trading sessions.  Even the release of healthy business updates for October couldn’t contain the free...

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