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After crashing for two straight sessions, Paytm shares rise nearly 10%

Paytm share price: The Paytm scrip rose 9.58 per cent to end at Rs 1,489.80 apiece on the National Stock Exchange (NSE) while on the BSE, it climbed 9.90 per cent to settle at Rs 1,494.95 per share.

By: Express Web Desk | New Delhi |
Updated: November 23, 2021 4:23:52 pm
Paytm IPO, Paytm IPO share allotmentThe interface of Indian payments app Paytm is seen in front of its logo displayed in this illustration picture taken July 7, 2021. (REUTERS/Illustration/File Photo)

Paytm share price: Shares of recently listed One 97 Communications, the parent entity of digital payments firm Paytm, climbed nearly 10 per cent on Tuesday after declining for two consecutive days post their listing.

The Paytm scrip rose 9.58 per cent to end at Rs 1,489.80 apiece on the National Stock Exchange (NSE) while on the BSE, it climbed 9.90 per cent to settle at Rs 1,494.95 per share.

The market capitalisation stood at Rs 96,913.67 crore, BSE data showed. During the intraday trade, the stock had hit a high of Rs 1,525.00 on the BSE and NSE.

Over 1.29 crore (1,29,54,174) shares were traded on the NSE during the session while over 11.16 lakh (11,16,374) shares exchanged hands on the BSE, data from the respective stock exchanges showed.

Paytm had a rough beginning in the stock markets since it got listed last Thursday. The stock had crashed over 27 per cent from its issue price on the first day of listing. It fell for two successive sessions before recovering some lost ground on Tuesday.

Commenting on the stock movement, Manoj Dalmia, Founder and Director at Proficient Equities, said “Investors who are stuck should wait as there is small buying being seen once, one may expect consolidation around the price of Rs 1200-1350 which can be a buying opportunity considering base formation. Hold for a few quarters and wait for expected results this might trigger some buying action from FII, DII raise the price, recommend to exit at a breakeven price.”

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