Paytm share price: On Friday, One 97 Communications Ltd shares rose sharply following a change to the circuit filter. Shares of Paytm’s parent firm began at ₹349 per share on NSE and reached an intraday high of ₹381.30. Paytm’s share price experienced a 10% increase while soaring to its intraday high. The NSE has changed the circuit filter for Paytm shares from 5% to 10%. During its Q4FY24 results announcement, the fintech company stated that the temporary disruption had an impact on its performance.
Following the release of Paytm’s Q4 results for 2024, global brokerages Bernstein and Morgan Stanley observed hopeful signals of stabilization and recovery in the company’s main business indicators. According to Bernstein’s study, Paytm’s Gross Merchandise Value (GMV) in April was about 81% of January levels, indicating good momentum and a significant increase from recent low levels. Similarly, Morgan Stanley reported a slowing in GMV growth quarter after quarter, with a year-on-year increase of 30% compared to 47% previously. These good developments in key business KPIs should instill confidence in the audience regarding Paytm’s future possibilities.
Paytm share price target
₹410 per share in the foreseeable future. Paytm shareholders should hold the stock with a trailing stop loss at ₹350 and aim for a short-term target of ₹410. If this hurdle is overcome, Paytm’s share price might reach ₹450 within the next 1-2 months. This reaffirmation of the favorable technical analysis should encourage investors about Paytm’s stock’s potential for development.
Ganesh Dongre advises new investors to buy at the current market price (CMP) and continue to buy on dips till the stock rises above ₹350. Buy Paytm shares around ₹410 to ₹450 per share, with a stop loss of ₹350.
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