Paytm Rebounds After 40% Selloff as Shares Seen Offering Value
- The firm has lost over $2 billion in market capitalization
- Paytm shares are reaching ‘buy now’ level, Bernstein says
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India’s fintech major Paytm rebounded on Tuesday, after shedding more than $2 billion in market capitalization in three sessions, as analysts highlighted value in its core business despite regulatory issues around the firm’s payments bank.
Shares of Paytm’s parent One 97 Communications Ltd. rose as much as 8%, the most in six months, after the company denied reports of the firm or its associate Paytm Payments Bank Ltd. being probed for foreign exchange rules violation.