Paytm shares surge the most in a week on buyback proposal-Shares of Paytm surged to ₹542 apiece on the BSE in Friday's opening deals after One 97 Communications Ltd, parent of fintech major Paytm, on Thursday said that it will consider a share buyback. However, this strategy of buyback may not yield results for buyers unless company starts doing something reasonably good.
The stock climbed as much as 7%, the most in a week. Paytm shares made their stock market debut in November last year and the scrip has declined nearly 66% since its listing. The proposed buyback is declared to ube December 13, 2022.
Paytm on the higher side can target 1450 and on the lower side can tgt 450. It is likely that Paytm shares can hit a high of 800+ in 1 year time frame.
We have tried to show the likely targets using the Fibonacci retracement and thus all those sitting since IPO will get an idea when and how they can reach their buy price and for this they will have to be mega patient as intention of management is not good.
Do remember to check our bank nifty tips for tomorrow and start making money like pro traders.
Paytm can't use IPO proceeds for buyback; firm's liquidity to be used: Report
Paytm has a liquidity of Rs 9,182 crore, as per its last earnings report.
Morgan Stanley maintains 'Equal-weight' rating on Paytm, target at Rs 695
-Equal-weight call, target at Rs 695 per share
-Total outlay on buyback would be Rs 1,050 crore & includes buyback taxes
-Cash position has been strong at Rs 9,180 crore as of September 2022
Paytm Says : Guess who am I?
1..I raised around 40000crs since my birth.
2..I made cumulative losses of nearly 15000crs over last 6-7 years.
3...Though my name is 197 but I came out with public issue at 2100rs.
4..Neither me nor my parents would know when I would ever make any profits..
5..I actually don't know what my real business is..
6..My popsi says I should be benchmarked against a certain co called Bajaj Finance.Happy and floored me,issued 2cr warrants to pops at 9 bucks.
7..I am the truest personification of "Lal Salaam"(both in bottom-line as well as stock price).
8. Though I am in deep shit red but my latest gimmick is a buyback at 800rs. I want to buy my shares back from the moron gullible retailers who bought me during my public issue at 2100rs. Speak about my smartness ..
9..I am ever shame-nil. Watch out for more innovative gimmicks in due course..
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