Macquarie values Paytm at Rs 900; stock falls 45% against issue price

Global brokerage Macquarie has maintained its 'underperform' rating on the stock and reduced its target price (TP) to Rs 900.

Shares of One97 Communications, the parent company of digital payments major Paytm, hit a new low of Rs 1,181.10, down 4 per cent on the BSE in Monday’s intra-day trade after global brokerage Macquarie maintained its ‘underperform’ rating on the stock and reduced its target price (TP) to Rs 900.

The stock was trading at its lowest level since its market debut on November 18, 2021. It was quoting lower for the fifth straight trading day, having fallen 12 per cent in the last one week, as compared to a 1.8 per cent rise in the S&P BSE Sensex.