Paytm share price: Even as the broader market crashed over 1 per cent on Tuesday, Paytm shares remained resilient and stayed above the Rs 1,000 level mark. The shares of the fintech firm surged by over 3 per cent on Tuesday before erasing some of the gains.
While Paytm shares have already been witnessing a sharp surge, a major push in stock price came after the company sold its stake in a Japanese firm PayPay Corp. Just last week, shares of Paytm’s parent company increased by over 3 per cent after announcing that the stake, worth over Rs 2,364 crore, was sold to SoftBank.
For the D-street, the recent surge was impressive as the broader market crashed by more than a per cent on Tuesday. The benchmark index, BSE Sensex 30 lost over 1,000 points during the trading session.
Paytm's profitability in Focus
The fintech company announced its first quarterly profits in Q2FY25. During this period, Paytm's profit figure stood at Rs 928 crore. While the profit figure came in as a one-time gain, resulting from selling its movie ticketing and events business to Zomato, many D-street analysts have taken a positive outlook towards the stock.
It's interesting to note that just earlier this year, Paytm's share price plummeted by over 50 per cent after RBI banned its banking arm, PPBL (Paytm Payments Bank Ltd).
However, the shares have again gained momentum in recent months. The fintech company became a multibagger stock in just 5 months. On year-to-date basis, Paytm shares have surged by 57 per cent on the National Stock Exchange. In the last 6 months, the trajectory has been even stronger as the company has delivered a return of more than 140 per cent on NSE (National Stock Exchange)
On Tuesday, the shares of the fintech company concluded at Rs 1,016.20 price level, up by nearly a per cent on NSE.
