Paytm shares crash 10%, wipe off Rs 10,970 crore m-cap. More pain ahead?
One97 Communications launched an initiative.
· Economic Times Markets, ET Stocks
Paytm shares crashed on Wednesday after reports suggested a possible delay in the rollout of UPI MDR. Analysts said the stock faces immediate support at Rs 1,560-1,550, while a decisive break below could trigger further selling.
The analysis
One97 Communications reported Rs 10,970 crore and Rs 1,560, with movement of 10% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -4.8% on the day at ₹1,649.30, and has returned +34.0% over three months. It sits 11% below its 52-week high. The financial services sector has moved -7.7% over the same period, so One97 Communications is running 41.7 points ahead of its peers.
For One97 Communications, the question is how much of this is already reflected in the price and how much re-rates the financial services peer set alongside it.
Market context
- The company directly in focus is PAYTM.
- Sector exposure: Financial Services.
- The immediate tone of coverage reads negative.
In this story
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