Paytm Shares Drop After 3% Equity Changes Hands In Large Trade
According to Bloomberg, at least 192 lakh shares or 3% equity changed hands in a bunched trade.
Shares of One 97 Communications Ltd., the parent of Paytm, declined on Thursday following a large block trade.
At least 192 lakh shares or 3% equity changed hands in a bunched trade, according to Bloomberg.
The stock declined as much as 8.81% intraday—the most in seven weeks since Nov. 22, 2022.
The scrip ended the day with 6.21% decline, while the benchmark Nifty 50 fell 0.21%.
Total traded volume stood at 6.6 times its 30-day average. The relative strength index is 50.7.
Out of the 12 analysts tracking the company, eight maintain a 'buy' rating, three suggest 'hold' and one recommends a 'sell' on the stock.
The return potential, as calculated by the consensus of analyst estimates, suggests an upside of 61.8% over the next 12 months, according to Bloomberg.
