Paytm Share Update: Selling continues in Paytm’s stock. Foreign brokerage house Macquarie has expressed fears of further fall in Paytm’s stock. But Ashneer Grover, former managing director of BharatPe, has advised investors to buy shares of Paytm. Ashneer tweeted and wrote that the share of Paytm is screaming and asking to buy.
Ashneer Grover wrote in his tweet, “This is the best opportunity to buy Paytm shares. It was valued at 7 billion. Only $ 4.6 billion was raised from the fund. Cash in hand should be around $ 1.5 billion. So 600 At the market price of Rupee, the market is saying that in the last 10 years, spending $ 3.1 billion has created a value of $ 5.5 billion. This is less than the FD rate of the bank. Buy it.
@paytm stock is a screaming BUY ! It’s valued at $7B ; Funds raised itself is $4.6B ; Cash in Hand should be $1.5 B. So at CMP of ₹600, the market is saying value created is $5.5B after having spent $3.1B over last 10 years. That’s less than Bank FD rate. BUY !!
— Ashneer Grover (@Ashneer_Grover) March 17, 2022
However, investors are not liking this advice of Ashneer Grover.
This single tweet proves that you are always and will always be an investment banker or a broker at large, you never were and never can become an entrepreneur or a businessman. Bas topi ghumao aur paise banao!! Tada! Btw if BharatPe lists, same haal hoga uska bhi, mind it!!
— Akshay Shah – Founder CEO, iWeb (@AkshayiWeb) March 17, 2022
The reason for which is that the stock of Paytm is seeing a decline since its listing. Paytm’s IPO price was Rs 2,150, which now closed at Rs 597 below Rs 600. In the last 5 days, the price of its shares has fallen by 24 percent.
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