Retail Investors Buy More Paytm Shares Despite Price Hitting Rock Bottom
Fintech major Paytm is on a downward spiral, tumbling more on Monday, and recorded a new all-time low. While writing this report, the stock was down 4.6% to Rs 916 per share.
Paytm’s stock is currently trading 57.4% lower than its issue price of Rs 2,150/share. On Friday, the company’s stock declined to hit the most recent all-time low since today. At Rs 912 apiece, Paytm is very close to attaining the lowest call on the stock at Rs 900/share set by brokerage firm Macquarie.
On Jan 24, the payments company released its latest shareholding pattern, as per which 3.49% retail investors have hiked their shareholding in the company in Q3, compared to 2.79% in the September quarter.
Data As Per Paytm’s Latest Shareholding Pattern
One97 Communications, Paytm’s regulating company, released its shareholding pattern for the December-ending quarter on Monday.
As per the data, retail investors have incremented their holding in the company from 2.79% in Q2 FY22 ro 3.49% in Q3 FY22, while new investors have also entered the stock.
However, the stakes of foreign portfolio investors have declined to 9.36% in the Dec quarter, while mutual funds have increased their holding in the company from 0.81% in the Sept quarter to 1.06% in Q3.
Besides, the asset management company Canada Pension Plan Investment Board has also increased its stake in the company by 0.5% to 1.57%.
Paytm Continues its Free Fall on Monday
Despite the company’s co-founder Vijay Shekhar Sharma’s recent positive outlook on the company with improving business performance, especially with revenues from the payment service and increasing credit business, the stock is continuing to tumble.
It hits a new low in each session.
On Friday, the stock hit an all-time low of Rs 953 and ended the session 3.5% lower at Rs 959.9 per share, and on Monday it dropped further to Rs 916 apiece.