new Delhi. Ashneer Grover, an important member of Shark Tank and former Managing Director of BharatPe, has advised investors to buy Paytm Share. He put up a post for his followers on Twitter on Thursday. Ashneer said that the share of Paytm is screaming that it should be bought. Ashneer Grover gave this advice to his followers at a time when the stock of Paytm continues to fall heavily. When the IPO came in November, Ashneer Grover had criticized Paytm founder Vijay Shekhar Sharma. He had said that the valuation of this stock was kept much higher than necessary to benefit Chinese investors.
Ashneer Grover wrote in his tweet, “This is the best opportunity to buy Paytm shares. Its value was 7 billion. $4.6 billion was raised from the fund alone. Cash in hand should be around $1.5 billion. So, at a market price of Rs 600, the market is saying that in the last 10 years, a value of $5.5 billion has been created by spending $3.1 billion. This is less than the FD rate of the bank. Buy it.”
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But people are not following Ashneer’s advice
However, seeing the user’s comment, it seemed that he is not ready to take this advice of Ashneer Grover. A big reason behind this is that the shares of Paytm have been falling continuously for the last 4 months. Paytm’s IPO price was kept at Rs 2,150 and today its shares are trading at a price of about 70 percent below it.
The continuous fall in the shares of Paytm has also affected the wealth of its founder Vijay Shekhar Sharma and he is no longer a billionaire. At the time of listing of Paytm’s IPO, Vijay Shekhar Sharma’s assets had reached Rs 2.35 billion, which has now come down to $ 999 million.
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Shares of Paytm continued to fall on Thursday and it closed at Rs 594.25, down 6.28 per cent on NSE. Its shares have lost more than 23 percent in the last 5 days. At the same time, since the beginning of the year 2022, the shares of Paytm have fallen by 55.65 percent so far.
Macquarie Capital has said – will fall to 450
Brokerage firm Macquarie Capital Securities (India) Private has further reduced its target price for the share of Paytm. This is the same firm that had feared about this stock falling to a very low level in the past. Macquarie’s Suresh Ganapathy cut his target price from Rs 700 to Rs 450 ($5.90) citing low valuations of fintech companies globally. This means that the share of Paytm can now come up to Rs 450.
Tags: investment tips, Paytm
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