NEW DELHI: Shark Tank fame and Bharatpay co-founder Ashneer Grover says Paytm is currently buying for around Rs 600. Paytm shares fell 6.28% to Rs 594.25 in today’s (March 17) trading session. Yesterday’s rate.
Grover said Paytm is currently worth $ 7 billion and the company has raised $ 4.6 billion. He noted that the cash on hand for the company should be $ 1.5 billion.
So, at the current market price of 600 rupees, the market says the value generated is $ 5.5 billion, he said. “Paytm stock buys a scream! Its value is $ 7B; Accumulated funds $ 4.6B; Cash on hand should be $ 1.5 B. So at CMP 600, the market says the value created after spending $ 3.1B over the last 10 years is $ 5.5B. This is lower than the bank FD rate. Buy !! ” Grover said in a tweet.
@paytm Buy a knife in stock! Its value is $ 7B; Accumulated funds $ 4.6B; Cash on hand should be $ 1.5 B. So at CMP 600, the market says the value created after spending $ 3.1B over the last 10 years is $ 5.5B. This is lower than the bank FD rate. Buy !!
– Ashneer Grover (Ashneer_Grover) March 17, 2022
However, Twitter users have been reluctant to follow the advice of entrepreneurs who recently left FinTech following an episode of controversy with other board and investors.
A Twitter user posted a meme titled “Abi To Aur Grega” which suggests that the Paytm share could get worse.
– Wisdom (@ iamsameer24) March 17, 2022
“Spending X is not enough to demand an X + Y rating. The market needs to look at the value generated by that cost. Unfortunately there is no such evidence in this case, ”said another Twitter user. read more: Will the mutual fund account be closed if I invest through Faizabazar? Know the truth
Spending X is not enough to get an X + Y rating. The market needs to look at the value generated by that cost. Unfortunately there is no such evidence in this case.
– Robin Alex Panicker (robin_a_p) March 17, 2022
Also, the day before, Suresh Ganapathi of Macquarie had slashed his expected price from Rs 700 to Rs 450. He attributed the decline to lower ratings for Fintech companies worldwide. However, he did not change his earnings or earnings estimates for fintech. read more: The IT sector has collected the most taxes in its history: CBDT Chairman
Bhagwas Bandhkar. Danda Aur Profit Beda Road pic.twitter.com/8aGkIiNCGz
– Aditya Srivastava (@aditya_twister) March 17, 2022
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