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Paytm shares extend 7-day slide after Q1 results and shelved bonus issue
The stock is down about 8% over seven sessions, after reporting June quarter net profit up 79% year on year to ₹220 crore.
One 97 Communications, the parent of Paytm, saw its shares fall for a seventh straight session on 22 July, as investors digested the company’s June quarter results and its decision to shelve its first-ever bonus share issue, according to LiveMint Markets.
The stock dropped 2% on Wednesday, bringing its cumulative decline to around 8% over the past seven trading sessions. LiveMint Markets also noted that the board announced the Q1 FY27 results after market hours on Monday, 20 July.
SBI Securities’ Sudeep Shah said the shares have corrected about 8% from a recent high of ₹1,407 reached on 15 July, with profit booking after a rally from early June to mid-July. He added that the Relative Strength Index eased from the overbought zone near 80 to around 59, while the Average Directional Index has flattened near 45, suggesting the uptrend’s momentum has moderated.
On fundamentals, LiveMint Markets reported that Paytm posted a 79% year-on-year rise in consolidated net profit to ₹220 crore for the June quarter. Revenue from operations grew 28% year on year to ₹2,448 crore, while total income rose to ₹2,630 crore and profit before tax nearly doubled to ₹247 crore.