Paytm‘s share price continued its bull run at the bourses on Friday as the stock climbed close to 5% to hit an intraday high of ₹809.90 — close to its 52-week high of ₹844.70.
What Happened: Shares of the company have had a great run at the bourses since the start of the year. The Paytm share price is up over 50% year-to-date. Just yesterday, the stock surged up close to 8% after BofA Securities upgraded the stock’s rating to ‘buy’ with a price target of ₹855.
The stock received a similar boost today after global brokerage firm CLSA maintained its ‘buy’ rating on the stock with a price target of ₹850. So with this impressive surge, if you invest ₹10,000 now, here’s what would happen if the stock goes on to hit its IPO price.
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The Investment: If you invest ₹10,000 in Paytm today, with the stock trading at around ₹800 levels, you would receive around 12 shares of the company. Now, if Paytm continues the upward trend, and goes on to hit its IP0 price of ₹2,150, the value of your 12 shares would surge up to ₹25,800.
The Risk: One should note, that prior to this bull run, Paytm’s share price has been on a continued downtrend since its initial listing. Shares of the company were listed at a 9% discount at ₹1,950 and crashed 27% lower from the issue price on listing day. In November last year, the stock was trading at around ₹450 levels, down close to 80% from its IPO price.
Price Action: Paytm share price was up 3.76% to trade at ₹801 in the early hours of trading on Friday.
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This article If You Invest ₹10,000 In Paytm Today, Here’s What Would Happen If Stock Hits IPO Price originally appeared on Benzinga.com
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