Till December last year, Alibaba’s total stake in Paytm was 6.26 per cent. Earlier in January-2023, Alibaba had sold its 3 per cent stake in the open market, and sold the remaining stake on Friday.
Till Thursday of this week, some brightness had returned in the shares of Paytm. Investors felt that this boom would continue even further. Because good rating was given by all the brokerage agencies. But on Friday, the shares of Paytm fell heavily. The reason for this decline is also known.
Chinese multinational company Alibaba has sold its entire stake in Indian fintech firm PayTM. Alibaba has bid farewell to India after the sale of all 3.4 per cent equity shares in Paytm’s parent company One 97 Communication Limited in a block deal held today.Earlier in January, the company had sold 3.1 per cent equity out of 6.26 per cent equity. After the completion of the block deal, Alibaba no longer has any stake in Paytm. For the last time today, the Chinese firm exited the company by selling its entire stake. After this news, the trend of decline in Paytm has started. Shares slumped up to 8 per cent by the close of trading.
Let me tell you, till December last year, Alibaba’s total stake in Paytm was 6.26 per cent. Earlier in January-2023, Alibaba had sold its 3 per cent stake in the open market, and sold the remaining stake on Friday. In fact, Alibaba is continuously reducing its stake in recently listed new-age companies in India.
With an increase of 42 percent on an annual basis, Paytm’s earnings increased to Rs 2,062 crore. After this, Paytm’s performance improved significantly during January 2023, which was filed with the stock exchange on 8 February.
After the quarterly report, veteran research firm Macquarie Research has upgraded Paytm’s rating from underperform to outperform. Along with this, the research firm has also increased the target price of Paytm from Rs 450 to Rs 800 (Paytm Target Price). Apart from this, Goldman Sachs has increased its target price to Rs 1150 from Rs 1120.After which a continuous rise in the shares is being seen. JP Morgan, however, expressed surprise over the results and maintained Overweight rating with a target price of Rs 950 on JP Morgan.
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https://english.n27news.in/2023/02/this-chinese-company-has-done-the-game-put-a-brake-on-the-speed-of-paytm-know-where-the-price-can-reach/https://english.n27news.in /wp-content/uploads/2023/02/n27-22-1024x576.pnghttps://english.n27news.in /wp-content/uploads/2023/02/n27-22-150x150.pngN27 NewsEconomyknow where the price can reach,n27news.in,put a brake on the speed of Paytm,This Chinese company has done the gameTill December last year, Alibaba's total stake in Paytm was 6.26 per cent. Earlier in January-2023, Alibaba had sold its 3 per cent stake in the open market, and sold the remaining stake on Friday.
Till Thursday of this week, some brightness had returned in the shares of Paytm. Investors...N27 NewsN27Adminenglish@n27news.inEditorN27 News
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