Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices were trading weak on Thursday, a day of weekly F&O expiry.
Even though this might be a wide range, the movements are volatile and traders should abstain from trading until we do not get past either levels.
Aggressive investors who got the allotment can hold the stock with a long-term view however the investors who applied for listing gain can exit on the bounceback.
I would suggest only aggressive investors hold this stock for the long term amid uncertainty where I believe Bajaj Finserv is a much better option to play on Fintech businesses because Bajaj Finserv has a proven track record with great comfort of valuations compared to Paytm.
It is difficult to value such kind companies for time being but by the time market will understand the way to value such kinds of businesses where the market will focus on how fast it will become profitable and how well it will use its strength to explore new businesses like Credit card and Payment banking.
The shares of the fintech giant opened for trading at Rs 1,955 per share, down Rs 195 or 9.07% from the issue price of Rs 2,150 per share.
Shares of Sapphire Foods opened for trading at Rs 1,311 apiece, up 11.10% or Rs 131 per share from the issue price of Rs 1,180 per share.
“On the technical front, Indian markets can witness this short-term trend to be range bound with a weak bias.
Traders are suggested to avoid taking new long positions and maintaining strict stoploss in their existing long positions,” Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of petrol and diesel have been left unchanged for two consecutive weeks now.
Yes, we have smelters, of course we produce copper, but all this came a cropper when the biggest of them all shut shop, which some say is for ever while others hope for a revival.
On the 15 min chart, we observe that Nifty is now in a short-term downtrend as evidenced by lower tops and lower bottoms made over the last 3 sessions.
Volumes and advance decline ratio continue to disappoint,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
The quarter brought to the fore two important trends: an improving demand environment and the impact of rising input costs on operating margins.
At about 45x sales, and a market capitalisation of Rs 1.4 lakh crore, Paytm stock is not cheap, especially considering that the company has never turned a net profit, and is not likely to do so soon, hedge fund manager Anurag Singh, Founder, Ansid Capital Partners tells Financial Express Online’s Shaleen Agrawal.
However, diminishing grey market premium and weak market sentiment over the last few days has led analysts to believe that Paytm stocks might list flat or at a marginal premium to the issue price of Rs 2,150 per share.