However, the conviction behind the buying was far less than the conviction investors displayed when they were dumping the stock. Delivery volume on the stock today was around 22 per cent, which was far less than the delivery volumes seen in the previous two sessions, indicating that speculators were trying to ride the stock for intraday gains.Whether Paytm will make a good run towards its IPO price remains to be seen. China’s slowdown, expensive valuations and a correction in global commodity prices have pricked the bubble in metal stocks on Dalal Street. Before today, the Nifty Metal index had sunk nearly 15 per cent from its record high. Raymond wants it all, and the 17 per cent jump in the stock price suggests so do investors.

Source: Economic Times November 24, 2021 01:40 UTC