−11% from the high · +78% from the low
Long unwinding into a 26-day expiry: futures OI −0.9% on a −1.3% day, the most call OI sits at 1,800, the most put OI at 1,600, max pain 1,700.
PAYTM futures closed at ₹1,663.20, +0.4% to spot, with 97% of open interest in the 27 Oct contract, and the 1,660 straddle prices a move of about ±7.6% by expiry.
| Expiry | Close ₹ | Basis ₹ · % | Annualised % | OI lots · on the day | Share of OI % | Contracts traded |
|---|---|---|---|---|---|---|
| 27 Oct26 days | ₹1,663.20 | +7.20+0.4% | +6.1% | 20,000▼ −1.0% · −190 lots | 97 | 3,700 |
| 23 Nov53 days | ₹1,672.00 | +16.00+1.0% | +6.7% | 660▼ −0.1% · −1.0 lots | 3.2 | 110 |
| 29 Dec89 days | ₹1,675.00 | +19.00+1.1% | +4.7% | 29▲ +31.8% · +7.0 lots | 0.14 | 14 |
3.4% of futures OI sits beyond the 27 Oct contract · 50 of 68 listed contracts traded · 17,000 option contracts changed hands
The 1,660 straddle closed at ₹125.80 (call 64.60 + put 61.20), pricing a move of about ±7.6% by the 27 Oct expiry. In the last 253 windows of 19 sessions, PAYTM moved more than that 121 times.
After the last 8 bulletins, PAYTM closed higher five sessions later in 5 of 7.
| Bulletin | Day of the news | 1 session later | 5 sessions later | Futures OI on the day |
|---|---|---|---|---|
| 30 SeptMacquarie raises Paytm target price by 64% to ₹2,025 | ▼ −1.3%Nifty −0.9% · −0.4 pp | —not reached | —not reached | ▼ −0.9%long unwinding |
| 16 SeptGoldman Sachs sees earnings upgrade potential for Paytm | ▼ −1.5%Nifty +0.2% · −1.7 pp | ▲ +3.4%Nifty +0.6% · +2.8 pp | ▼ −3.0%Nifty −0.7% · −2.4 pp | ▼ −3.8%long unwinding |
| 16 SeptNPCI introduces MDR on UPI payments above ₹2,000 | ▼ −1.5%Nifty +0.2% · −1.7 pp | ▲ +3.4%Nifty +0.6% · +2.8 pp | ▼ −3.0%Nifty −0.7% · −2.4 pp | ▼ −3.8%long unwinding |
| 15 SeptJefferies raises Paytm target price by 31% | ▲ +3.5%Nifty +0.4% · +3.0 pp | ▲ +1.9%Nifty +0.7% · +1.3 pp | ▲ +2.6%Nifty +1.4% · +1.2 pp | ▼ −5.5%short covering |
| 15 SeptJefferies identifies five financial stocks with growth potential | ▼ −4.3%Nifty −1.2% · −3.1 pp | ▼ −1.0%Nifty −0.8% · −0.2 pp | ▲ +0.4%Nifty −0.3% · +0.7 pp | ▼ −5.9%long unwinding |
| 14 SeptJefferies identifies five financial stocks with 11% to 25% upside | ▼ −4.3%Nifty −1.2% · −3.1 pp | ▼ −1.0%Nifty −0.8% · −0.2 pp | ▲ +0.4%Nifty −0.3% · +0.7 pp | ▼ −5.9%long unwinding |
| 20 AugPaytm shares rise 4% after ₹2,949 crore block deal | ▲ +1.3%Nifty +0.6% · +0.6 pp | ▲ +3.1%Nifty +0.7% · +2.3 pp | ▲ +6.0%Nifty +0.1% · +6.0 pp | ▲ +5.1%long build-up |
| 19 AugPaytm shares rise 4% after ₹2,949 crore block deal | ▲ +1.3%Nifty +0.6% · +0.6 pp | ▲ +3.1%Nifty +0.7% · +2.3 pp | ▲ +6.0%Nifty +0.1% · +6.0 pp | ▲ +5.1%long build-up |
Revenue ₹2,448 cr, +28% on a year earlier; profit ₹220 cr, +80% in the Jun 2026 quarter, consolidated.
| Quarter | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ | Market on the day |
|---|---|---|---|---|---|---|
| Jun 2026filed 20 Jul | ₹2,448 cr | ▲ +28% | ₹220 cr | ▲ +80% | 3.40 | ▼ −3.5%Nifty −0.2% · −3.3 pp |
| Mar 2026filed 6 May · audited | ₹2,264 cr | ▲ +18% | ₹183 cr | — | 2.83 | ▲ +7.8%Nifty 0.0% · +7.8 pp |
| Dec 2025filed 29 Jan | ₹2,194 cr | ▲ +20% | ₹225 cr | — | 3.46 | ▼ −2.6%Nifty −0.4% · −2.2 pp |
| Sept 2025filed 4 Nov | ₹2,061 cr | ▲ +24% | ₹21 cr | ▼ −98% | 0.32 | ▲ +4.2%Nifty −0.3% · +4.5 pp |
| Jun 2025filed 22 Jul | ₹1,918 cr | ▲ +28% | ₹123 cr | — | 1.89 | ▲ +1.9%Nifty +0.6% · +1.3 pp |
| Mar 2025filed 6 May · audited | ₹1,912 cr | ▼ −16% | −₹545 cr | — | -8.47 | ▲ +7.2%Nifty +0.1% · +7.1 pp |
| Dec 2024filed 20 Jan | ₹1,828 cr | ▼ −36% | −₹209 cr | — | -3.27 | ▼ −4.9%Nifty −1.4% · −3.6 pp |
| Sept 2024filed 22 Oct | ₹1,660 cr | ▲ +560% | ₹930 cr | — | 14.29 | ▲ +8.5%Nifty −0.1% · +8.7 pp |
| Year | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ |
|---|---|---|---|---|---|
| FY26to Mar 2026 | ₹8,437 cr | ▲ +22% | ₹552 cr | — | 8.50 |
| FY25to Mar 2025 | ₹6,900 cr | ▼ −11% | −₹663 cr | — | -10.45 |
| FY24to Mar 2024 | ₹7,711 cr | — | −₹1,160 cr | — | -23.00 |
PAYTM trades at 170 times trailing earnings against 110 for its industry, 6.6 times book value, revenue +23% over twelve months, market cap ₹1,10,000 cr.
| Stock | Market cap ₹ | P/E | P/B | Close ₹ |
|---|---|---|---|---|
| PAYTMOne 97 Communications Limited | 1,10,000 cron 1 Oct | 170consolidated | 6.6 | ₹1,656.00 |
| POLICYBZRPB Fintech Limited | 45,000 cron 1 Oct | 61consolidated | 6.2 | ₹980.00 |
| PINELABSPine Labs Limited | 19,000 cron 1 Oct | — | 3.3 | ₹167.60 |
| MPIMANIPALManipal Payment and Identity Solutions Limited | 9,300 cron 1 Oct | — | — | ₹401.40 |
| STYLSeshaasai Technologies Limited | 5,900 cron 1 Oct | — | 4.2 | ₹366.00 |
| CCAVENUEAvenuesAI Limited | 5,300 cron 1 Oct | — | 1.1 | ₹15.30 |
| NPSTNetwork People Services Technologies Limited | 3,700 cron 1 Oct | — | 8.3 | ₹1,766.50 |
| TURTLEMINTTurtlemint Fintech Solutions Limited | 2,100 cron 1 Oct | — | 6.7 | ₹69.80 |
| MOBIKWIKOne Mobikwik Systems Limited | 1,500 cron 1 Oct | — | 2.9 | ₹196.25 |
| SUVIDHAASuvidhaa Infoserve Limited | 43 cron 1 Oct | — | 1.6 | ₹2.05 |
| AGSTRAAGS Transact Technologies Limited | — | — | — | — |
Foreign portfolio investors hold 24.3%, mutual funds 17.9%, insurance companies 5.3% and banks and financial institutions 1.6%, as filed for the quarter to 30 Jun.
| Category | 30 Jun | 31 Mar | 31 Dec | 30 Sept | 30 Jun |
|---|---|---|---|---|---|
| Foreign portfolio investors | 24.29▲ +0.04 pp | 24.25▼ −2.32 pp | 26.57▲ +2.30 pp | 24.27▲ +2.75 pp | 21.52 |
| Mutual funds | 17.94▲ +1.34 pp | 16.60▲ +2.26 pp | 14.34▼ −1.91 pp | 16.25▲ +2.39 pp | 13.86 |
| Insurance companies | 5.34▲ +0.26 pp | 5.08▲ +0.31 pp | 4.77▲ +2.06 pp | 2.71▲ +1.29 pp | 1.42 |
| Banks and financial institutions | 1.59▲ +0.19 pp | 1.40▲ +0.19 pp | 1.21▲ +0.22 pp | 0.99▲ +0.43 pp | 0.56 |
| Individual investors | 11.36▼ −0.45 pp | 11.81▼ −0.20 pp | 12.01▼ −0.27 pp | 12.28▼ −0.79 pp | 13.07 |
| Bodies corporate | 5.83▲ +0.02 pp | 5.81▼ −0.14 pp | 5.95▼ −0.19 pp | 6.14▼ −0.16 pp | 6.30 |
| Other foreign holders | 23.80▼ −1.35 pp | 25.15▼ −0.03 pp | 25.18▼ −2.26 pp | 27.44▼ −5.91 pp | 33.35 |
| Others | 9.85▼ −0.05 pp | 9.90▼ −0.07 pp | 9.97▲ +0.04 pp | 9.93▲ +0.01 pp | 9.92 |
No corporate action on record for PAYTM yet.
PAYTM is +2.3% over 20 sessions against Nifty's −6.2%, 11% below its 52-week high, realised volatility 43% annualised.
| Window | From ₹ | PAYTM % | Nifty 50 % | Difference pp |
|---|---|---|---|---|
| 250 sessionssince 26 Sept | ₹1,125.23 | ▲ +47% | ▼ −9.1% | +56 |
| 120 sessionssince 9 Apr | ₹1,097.92 | ▲ +51% | ▼ −5.7% | +57 |
| 60 sessionssince 8 Jul | ₹1,223.40 | ▲ +35% | ▼ −6.1% | +41 |
| 20 sessionssince 2 Sept | ₹1,618.93 | ▲ +2.3% | ▼ −6.2% | +8.5 |
| 5 sessionssince 24 Sept | ₹1,735.49 | ▼ −4.6% | ▼ −2.8% | −1.8 |
| 1 sessionsince 30 Sept | ₹1,677.98 | ▼ −1.3% | ▼ −0.88% | −0.43 |
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