Shares of Paytm parent One 97 Communications Ltd. rose for the thrid-straight day by 14.67%, as of 2:27 p.m., to Rs 674.95 apiece in trade on Wednesday.
The stock gained as much as 15.31% intraday, the most since Tuesday, when the stock advanced 20%.
Total traded volume stood at 5.6 times its 30-day average. The relative strength index at 14, implies that the stock maybe oversold.
Out of the 12 analysts tracking the stock, nine maintain a ‘buy’ rating and three recommend a ‘hold’ the stock.
The return potential as calculated by the consensus of analyst estimates, stand at an upside of 35.5% over the next 12 months.
4 thoughts on “Paytm Jumps 15% In Trade Intraday”
The Indian benchmark indices continued trading higher through midday after it opened with slim gains on Wednesday. RBI Governor Shaktikanta Das announced the Monetary Policy Committee’s decision on hiking the repo rate by 25 basis points to 6.50%.
Stocks gained after positive earnings reports in Europe and a late Wall Street rally as Powell highlighted that disinflation has begun, and that further hikes will likely be needed if the jobs market remains strong. The U.S. stock futures fell.
Shares of Adani Enterprises climbed as investors reassessed the impact of the scathing report from Hindenburg Research published on Jan. 24. Ambuja Cements Ltd., ACC Ltd., Adani Green Energy Ltd. and Adnai Total Gas Ltd. declined out of the total ten Adani group company stocks.
The S&P BSE Sensex was up 378 points or 0.63% at 60,663.79 while the NSE Nifty 50 was 150 points or 0.85% higher at 17,871.70.