The Relative Strength Index of the stock stood at 49.3 on Monday.
Aswath Damodaran, Professor of Finance at the Stern School of Business at New York University, said in a blog last month he expected operating profits for Paytm to turn positive and the operating margin to reach 5 per cent in 2026. He valued the stock at Rs 2,190.24, marginally above the price band of Rs 2,080-2,150 range.
Investors globally were cautious, awaiting inflation figures in the US later this week after the Fed announced the beginning of $15 billion per month bond tapering last week, much in line with expectations.
The Relative Strength Index of the stock stood at 59.61 on Monday.
A total of 91,456 shares changed hands on the counter till 10:30AM (IST).
“2021 turned out to be an easier year to make money than what at least I thought it would be because a lot of stocks went up and valuations went through the roof. The next one year might not be so easy.â€
Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities said gold trades higher supported by a drop in US bond yields as Fed decided to take a gradual approach on monetary tightening while inflation concerns also supported the yellow metal.
While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
The stock quoted a 52-week high price of Rs 2306.15 and a 52-week low of Rs 1327.95.
Shares of cigarette companies are already under pressure since the announcement of the panel on cigarette taxes. For ITC, which had only recently started participating in the ongoing bull market, higher taxes are bad news as it could lead to a loss in volumes as well as market share to illegal cigarettes.
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