On the daily chart, we observe that Nifty has recently bounced back from the lower end of a downward-sloping channel. So while there is a possibility of a pullback rally emerging, we must remember that the intermediate trend remains down. This intermediate downtrend will continue if the recent low of 16,850 is broken. A pullback rally is likely if the Nifty can take out the immediate resistance of...

New-age stocks have been falling for quite some time as overvaluation concerns overpowered growth exuberance in such new-age listed companies. Paytm share price is down 28% from its 52-week high, Zomato is down 44%, PB Fintech is down 39%, and Nykaa is down 54%. “Pricey Valuations coupled with lack of earnings visibility continue to plague several New Age stocks across segments and investors are...

Paytm shares recovered partly today after sinking 9% on Friday after the Chinese e-commerce giant Alibaba offloaded its entire holding in the online payments aggregator. Paytm shares rose 4.28% to Rs 678.00 on BSE in an otherwise negative market with Sensex and Nifty 50 falling half a percent. Alibaba offloaded 21,431,822 shares of Paytm’s parent One97 Communications in a bulk deal on Friday, tr...

Paytm achieved profitability three quarters ahead of its guidance, causing the market sentiment regarding the payment aggregator and financial services firm to turn positive, and sending the share price soaring. The company reported a revenue of Rs 2,062 crore in Q3FY23, up 42% on-year, while the firm’s contribution profit was up 131% on-year at Rs 1,048 crore. The stock has seen a rise of 28% f...

Shares of One97 communications settled over 6 per cent higher on Monday after the company narrowed its consolidated net loss to Rs 392 crore in the third quarter. One97 Communications Ltd (OCL) is the parent entity of leading mobile payments and financial services company Paytm.The stock ended at Rs 558 apiece, up 6.31 per cent on the BSE. During the day, it climbed 7.8 per cent to Rs 566. On the ...