Paytm could give 20-25% relief rally, tempted to buy Zomato post-correction: Nirmal Bang’s Rahul Arora

Paytm post-correction could give a 20-25 percent relief rally, said Rahul Arora, CEO of Nirmal Bang Institutional Equities, on Tuesday, adding that he would be tempted to buy Nykaa and Zomato as well.

He said, “For a short-term positional investor, I do not think it’s a bad time to be entering in something like a Paytm for 20-25 percent either because it has been one-way downstream for Paytm since listing. Some of these, I would certainly be tempted to buy them. Nykaa and Zomato will be slightly longer-term hold but Paytm from a short-term positional standpoint can give 20-25 percent.”

Nirmal Bang, said Arora, is more comfortable with largecap IT versus midcap IT companies. He said Wipro is under-owned and if earnings pick up then the stock could move towards Rs 700.