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Paytm spikes on low level buying, positive analyst commentary

Data available on Bloomberg shows, out of 12 analysts tracking the stock six have a ‘buy’ rating and three each have ‘hold’ and ‘sell’. The consensus 12-month target price is at Rs 872.

November 25, 2022 / 11:11 AM IST
 
 
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Shares of Paytm parent One 97 Communications spiked on November 25 on low level buying as the demand for the counter upturned following a positive commentary from analysts.

After hitting an all-time low of Rs 439.6 in the previous session, the scrip jumped nearly 7 percent to Rs 470 apiece on the BSE on Friday.

Many opine that selling has been overdone in Paytm, and the stock that has been on a declining trend may be a good buy at this level. Most brokerages are bullish on the counter with some seeing over 100 percent potential upside in the next 12 months.

Watch: Paytm - Is the pessimism getting out of hand? | Markets with Santo & CJ