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Paytm shares surged over 3% to reach a fresh 52-week high of Rs 1,007 following the board's approval to sell its stake in Japan's PayPay for Rs 2,364 crore. The stock has seen a 10.11% increase over the past five days, reflecting strong investor interest.
The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.
Paytm shares reached a 52-week high of ₹950 following UBS's decision to more than double its target price to ₹1000, reflecting a potential upside of nearly 9%. Despite retaining a 'neutral' rating, UBS highlighted the need for Paytm to improve its customer base and regain market share, which has dropped to 18.5% post-RBI actions. The brokerage anticipates that Paytm's adjusted EBITDA will break even by Q4 of the 2024-25 fiscal year, with FY26 revenue projected at ₹99 billion.
Shares of Paytm parent One97 Communications surged 6% to Rs 893 on November 22, marking a five-day rally and a 56% gain over the past three months. International brokerage Bernstein has raised its target price for Paytm from Rs 750 to Rs 1,000, citing a shift in outlook from survival to optimism for the fintech company. In a bullish scenario, Bernstein anticipates improved payment margins and a potential 100% upside to its base case EPS estimates.
Bernstein has reaffirmed its bullish outlook on Paytm's parent company, One97 Communications, raising the target price from Rs 750 to Rs 1,000 per share, indicating a potential upside of 23%. Despite a challenging year with an 11% decline in share value, Paytm's stock was trading at Rs 819.4, up 0.6% amid muted market sentiment.
Paytm's parent company, One 97 Communications, has received approval from the NPCI to onboard new UPI users, ending a nine-month embargo by the RBI. This development comes after the company reported a net profit of ₹930 crore in Q2FY25, largely due to a one-time gain from selling its movie ticketing business, although it would have otherwise faced a net loss of ₹415 crore. Despite a 5% rise in stock this year, Paytm has underperformed compared to Nifty's 12% returns.
Paytm has received approval from the National Payments Corporation of India (NPCI) to onboard new UPI users, following earlier restrictions imposed by the Reserve Bank of India on its associate, Paytm Payments Bank Limited. The approval requires adherence to NPCI guidelines on risk management and customer data. To adapt, Paytm has partnered with Axis Bank, Yes Bank, SBI, and HDFC Bank for its payment services.

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