On the upper end of the price band, the issue is valued at a P/B (Price to book value) of 31.89x based on FY21 book value
Paytm IPO opens on November 08 and closes on November 10. The fintech has fixed the price band at Rs 2,080-2,150.
Dolat Capital continues to maintain its positive view on the stock with an accumulated and price target of Rs 1,040 per share.
Most brokerages have cut their earnings estimates to factor in chip shortage impact
Inexpensive valuation and robust dividend and FCF (Free Cash Flow) yield of 5% remain key attractions making the risk-reward highly favourable.
Major sectoral indices on the NSE were trading in the red with the Nifty Metal index tanking 1.84%.
L&T infra major's consolidated net profit fell 67.04% to Rs 1819.45 crore on a 12.05% increase in net sales to Rs 34772.90 crore in Q2 September 2021.
Trading for the day would remain volatile as traders shift contracts from the current month expiry to the near month contract of November.
Motilal Oswal Financial Services is bullish on Titan with a price target of Rs 2,560.
Sensex ended at 61,143.33, down 206.93 points or 0.34%, while Nifty closed 57.45 points or 0.31% lower at 18,210.95