Paytm shares achieved a significant milestone by crossing the Rs 800 mark, exhibiting a positive trajectory.
On Friday, the company’s shares experienced a notable increase of over 5%, reaching Rs 809.45 on the Bombay Stock Exchange.
This surge follows a rise of over 6% on Thursday, marking the third consecutive day of growth for Paytm shares.
The recent surge can be attributed to a rating upgrade, further bolstering investor confidence.
It is noteworthy that Paytm shares had a 52-week low level of Rs 439.60.
Bank of America Securities Upgrades Paytm Shares, Sets Target at Rs 885
Bank of America Securities (BofA Securities) has recently upgraded Paytm shares, providing them with a buy rating and setting a target price of Rs 885.
The decision to upgrade the rating stems from the belief that the stock’s risk-reward ratio has become more favorable.
Previously assigned a neutral rating, Paytm shares now hold a buy rating according to the brokerage house.
The target price has been raised from Rs 780 to Rs 885, indicating the potential for further gains.
Experts suggest that Paytm shares may witness continued growth.
Paytm Shares Surge Over 70% in Under 6 Months
In an impressive feat, Paytm shares have surged by more than 70% in less than six months.
The company’s shares were valued at Rs 476.10 on December 23, 2022, at the Bombay Stock Exchange (BSE). As of Friday, June 9, the shares have climbed to Rs 809.45.
Furthermore, since the beginning of this year, Paytm shares have seen an increase of approximately 53%.
Starting at Rs 532.10 on January 2, 2023, the shares have steadily risen to Rs 809.25.
Paytm’s shares have a 52-week high level of Rs 844.70 and a 52-week low level of Rs 438.35.
Disclaimer: The information provided here solely presents the stock’s performance and should not be considered as investment advice.
Investing in the stock market carries inherent risks, and it is advisable to consult with a financial advisor before making any investment decisions.
