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This Warren Buffett-owned Indian stock has been a wealth destroyer

In September 2018, Buffet's investment arm - BH International Holdings - invested $300 million, or Rs 2,179 crore, for 2.6 per cent stake in PayTM, which had valued the start-up at $10 billion then.

Warren Buffett
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Warren Buffett, CEO of Berkshire Hathaway

Puneet Wadhwa New Delhi
Things have gone south for PayTM ever since it listed at the bourses in November 2021 with its stock crashing around 71 per cent from its issue price. And if analysts are to be believed, there is more pain ahead and caution investor’s should not use the fall to bottom-fish in this counter.

In a recent note on the company, Macquarie has slashed PayTM’s target price to Rs 450 (36 per cent lower from where it trades currently on the BSE) from Rs 700 earlier.

ALSO READ: Softbank executives to step down from Paytm and Policybazaar boards

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