Paytm Shares of One 97 Communications Ltd. fell nearly 5% in intraday trade to the lowest ever since the company’s listing on November 18.
- Paytm’s shares have now fallen 54% from the issue price of Rs 2,150.
- The stock has fallen 10% over the last three sessions.
- Of the eight analysts tracking the company, three maintained ‘buy’, two maintained ‘hold’ and three maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 60.9%.
- Trading volume on the stock was 2.5 times the 30-day average volume at this time of the day. The relative strength index on the stock is at 24, suggesting it may be oversold.
Source: Bloomberg
RIL share price gains nearly 1% even as Sensex falls, after Jio prepays Rs 30,791 cr spectrum dues
Reliance Industries Ltd (RIL) share price gained nearly 1 per cent to Rs 2,541.65 on BSE on Wednesday amid a weak market, after Reliance Jio said it has paid its entire deferred liabilities towards spectrum acquisition prior to March 2021.
The company prepaid Rs 30,791 crore, including accrued interest, to the Department of Telecom (DoT). BSE Sensex and NSE Nifty 50 fell about 0.9% to 60,218 points and 17,972 points, respectively. Analysts say that the prepayment is definitely a positive thing for the whole RIL group. “The group is making continuous efforts to make it a debt free company, and these steps are going to benefit in achieving their vision,” Pavitraa Shetty, Co-founder & Trainer, Tips2Trades, told Financial Express Online.
