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Paytm Stock Is Still too Expensive, Say Analysts Who Predicted Its Dive

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Brokerage companies say that Paytm's stock is still rather expensiveMacquarie Capital Securities (India) Pvt., which was vindicated on its preliminary downbeat contact Paytm, maintained its bleak view on profitability Monday after the digital payments startup released monetary information for the vital period ahead of the Diwali holiday.

Paytm's price-to-sales assessment remains expensive and success must remain evasive for a long time, the brokerage stated in a note.

The business saying over the weekend that gross merchandise value rose 131 percent on-year in October doesn't materially affect Macquarie's profit and loss price quotes, experts Suresh Ganapathy and Param Subramanian composed.

One 97 Communications Limited, the parent business for the payments platform, tumbled as much as 19 percent on Monday to 1,271 rupees ($17.08).

This followed a 27 per cent depression on debut on November 18, when Macquarie started coverage on the stock with an underperform ranking and cost target of Rs 1,200.

The bad debut may cool sentiment in India's stock market boom, which had ranked amongst the world's most frenzied.

The going public had actually been touted by some as a symbol of the nation's growing appeal as a destination for global capital, particularly for financiers looking for options to China.




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