New Delhi: Lakshmishree Investments, HoR, Anshul Jain has given his views on the shares of Paytm. The stock market expert has also shared the Paytm share price target based on what technicals suggest on the charts. On Friday, July 19, 2024, One 97 Communications Ltd, the company which owns the fintech brand Paytm, declared results for the first quarter (Q1) of the financial year 2024-25 (FY25).
Paytm share price target
“Paytm shares have made a flat base at Rs 438 levels on the charts. Going forward from here, if this level remains protected in the retest, then, the scrip can jump up to Rs 700 levels,” Jain told Money9. According to him, currently, Paytm share price resistance level is at Rs 596. If the stock breaches this level, then, technically, it can rally to Rs 700 levels. On Friday, July 19, 2024, the scrip closed three per cent higher at Rs 458 apiece on the Bombay Stock Exchange (BSE).
The stock market expert’s analysis on Paytm
Jain’s Paytm share price target of Rs 700 apiece is purely on technical basis. According to him, Paytm share price target shared by him is purely an observation. It is not a buying recommendation, Jain added.
Paytm Share Price History
The fintech stock is down five per cent in the past five days
Paytm Share Price has rallied 11 per cent in past 30 days
The scrip is down 39 per cent in the past six months
It has given negative returns of 43 per cent in the past one year
Paytm Results Q1 2024
On Friday, One 97 Communications Ltd reported that its revenues from operations fell 36 per cent year on year to Rs 1,502 crore in Q1 FY25 from Rs 2,342 crore in the June’2023 quarter. While, the fintech’s revenues declined 34 per cent on quarter on quarter (QoQ) basis from Rs 2,267 crore in the March’2024 quarter. The Gross Merchandise Value (GMV) also fell sequentially to Rs 4.26 lakh crore in the June quarter from Rs 4.69 crore in Q4 FY24.
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Lakshmishree Investments, HoR, Anshul Jain said to Money, “Paytm shares have made a flat base at Rs 438 levels on the charts. If this level remains protected in the retest, then, the scrip can jump up to Rs 700 levels.” Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
