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New Delhi. The diving of shares of Paytm’s parent company One97 Communications continued on Tuesday and the company’s stock reached a record low. So far, Paytm Share Price has gone down by about 58 percent from its issue price. The issue price was Rs 2150, while on Tuesday it reached Rs 840.05 in intraday and then closed at Rs 851.25. Brokerage firms like Goldman Sachs and Macquarie Securities India have also reduced the target price of the stock.
Retail investors are not only among those who have suffered losses in Paytm’s stock, but some big investors have also been hit by this stock. These include the world’s legendary investor Warren Buffett. Apart from these, foreign investors like Antfin (Netherlands) Holding BV and SVF Panther (Cayman) have also suffered heavy losses due to the fall in the shares of Paytm.
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Buffett’s company holds 2.41 percent stake
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According to Paytm’s red herring prospectus, Buffett’s company Berkshire Hathaway had bought shares at a price of Rs 1,279.7. In this way, Buffett has suffered a loss of about 35 percent. In September 2018, Berkshire had invested Rs 2,179 crore in Paytm and for this they got a 2.6 per cent stake. According to the company’s latest shareholding data, as of December 31, 2021, Buffett’s investment company held 2.41 percent stake in Paytm.
Couldn’t even touch the issue price
Even after about 3 months, the share of Paytm has not touched the level of its issue price. The special thing is that the expectation of investors going to the level of the issue price is getting broken every day. Recently HDFC Mutual Fund has also reduced its stake from Paytm.
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Brokerage firms are also losing faith
Brokerage firm Goldman Sachs has recently reduced the target price of Paytm’s stock. She is doing this continuously. Earlier the brokerage house had given its target price of Rs 1,630, which was earlier reduced to Rs 1,600 and now it has been further reduced to Rs 1,460. However, Goldman Sox has upgraded the rating of Paytm Share to buy. On the other hand, analysts at Macquarie Capital Securities (India) Ltd have reduced the target price of Paytm share to Rs 700 from Rs 900.
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Tags: Paytm, stock market
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