Paytm stock rallies 122% in one year but still 53% below issue price. Can it reclaim its IPO glory?
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Shares of fintech major Paytm (One 97 Communications) have surged 122% over the past 12 months, driven by sustained bullish momentum and improving investor sentiment. Despite the strong recovery, the stock still trades 53% below its IPO issue price of Rs 2,150 – raising the question: Can Paytm reclaim its IPO-era highs? Currently hovering around Rs 1,018, the stock has shown signs of a technical breakout, supported by a consistent pattern of higher highs and higher lows (HH–HL) on the charts. Technical analysts believe the upcoming June quarter results, due today, July 22, could be a key trigger for further upside. Technical outlook positive Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio, said Paytm is approaching a crucial resistance zone of Rs 1,020–1,030, where it had faced sharp selling pressure in December 2024. “The stock has been consistently forming a higher highs–higher lows (HH–HL) structure, which indicates a ...