FIIs, MFs boost Paytm investment for second consecutive quarter
- FIIs and mutual funds grew investments in Paytm parent One 97 Communications Ltd for the second consecutive quarter in July-September.
- The company’s latest BSE shareholding pattern report showed foreign investors’ ownership at 5.77 percent in the September quarter, up from 5.14 percent in the previous quarter and 4.42 percent in the March quarter.
- Mutual funds upped their investment to 1.26 percent in the September quarter from 1.14 percent. MFs held 1.05 percent in March.
- Goldman Sachs, Citi, JP Morgan, Morgan Stanley, and ICICI Securities are optimistic on the company due to excellent sales growth over the last three quarters.
- Stock has six “buy” and three “hold” calls. Three “sell” ratings.