According to a report published in The Mint, after the Q2FY23 results, ICICI Securities had given the buying tag to the Paytm shares but ever since then are surfing amidst an all-time low. This has ended up attracting foreign investors. In recent bulk deals Morgan Stanley Asia Singapore, Bank of America, and Societe General have brought the company’s shares.
On the other hand, Softbank gave the power of a certain percentage of stake to One97 Communications which happens to be the undertakers of Paytm, by an open source transaction in the market. It happened only after the term of keeping the balance got over for the organizations who had put their capital in Paytm. In accordance with the NSE which made deals in huge quantities, Morgan Stanley has been reported for buying a lumpsum amount of Paytm shares. Whereas BofA Securities along with Society Genera have bought another set of huge market shares of Paytm each.
There has been news that SAF India Holdings (Cayman), sold out 2,93,50,000 of the Paytm shared. Each of these sales and purchases of the Paytm shares was made through bulk deals.
NSE Deals
In accordance with the details given on the website of NSE, Morgan Stanley has bought some premium amount of shares of Paytm after paying Rs.555 apiece. The meaning of this is that Morgan Stanley has invested a sum of Rupees Three crore, ninety-three lakhs, twenty-three thousand, nine hundred and eighty-five. In simpler terms, Morgan Stanley has bought shares of more than Rs.333 crore. In the same way too, BofA Securities has purchased another set of huge shares after paying Rs.555 for each share. It means that BofA Securities has bought shares worth around Rs.279 crore.
The Societe General has brought it by paying a high rage for the shares after paying Rs.555 for every single share. It means they have invested Rs.393 crore all in one go. SVF India however has offloaded its total number of Paytm shares bought for another massive chunk of the amount at Rupees Five hundred and fifty-five per share. It means only SVF Holdings has been able to put a profit after selling out the Paytm shares for about Rs. 1,630 crores.
Because the listings of NSE, BSE, and Paytm shares have been under the market hold, it bears new all-time low stocks on NSE, the new price happens to be above seventy-five percent but lower than Paytm’s IPO’s higher range amount which is Rs. 2150. Currently, the share price of Paytm as of this day remains at Rupees Five hundred and forty each.
Post Q2FY23 results, it made ICICI Securities give buy tag for the Paytm shares. They have stated that it would steadily improve the income in the marginal profile along with better levels of monetization. Furthermore, it also suggests the gain in profitability before the term. ICICI Securities have still maintained the buy tag keeping the target price unchanged. The price still remains at Rs.1285 and it is based on the method of giving value to the customer. Although a lot has been said and done about Paytm shares, now the road ahead regarding Paytm shares depends on the market fluctuations in the days to come.