One 97 Communications snaps 4-day losing trend, bounces from 52-week low

24 Mar 2022 , 03:21 PM

Shares of One 97 Communications dropped 17.33% in the past four trading sessions to settle at Rs 524.40 yesterday, 23 March 2022, from its close of Rs 634.40 on Wednesday, 16 March 2022.

The scrip hit 52-week low at Rs 520 yesterday. One 97 Communications has slumped 73.25% from its 52-week high of Rs 1,961.05 attained on 18 November 2021. It was listed on the bourses on 18 November 2021 at Rs 1,955, a discount of 9.07% to the IPO price of Rs 2,150.

The scrip hovered in the range of Rs 520.10 to Rs 594.95 during the day.

On the technical front, the stocks RSI (relative strength index) stood at 31.401. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading between its 50-day and 200-day moving average (DMA) placed at Rs 849.16 and Rs 482.73 respectively.

On a consolidated basis, Paytm reported a net loss of Rs 778.50 crore in Q3 FY22, higher than net loss of Rs 535.50 crore in Q3 FY21. Net sales jumped 88.6% to Rs 1,456.10 crore in Q3 FY22 over Rs 772 crore in Q3 FY21.

Paytm is one the largest payments platform in India based on the number of consumers, number of merchants, number of transactions and revenue ended March 2021.

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