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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