Paytm shares jump 9% to 52-week high as Bernstein raises target to ₹2,200
At 12.37 pm, the stock traded at ₹1,557 on the NSE, after hitting a 52-week high of ₹1,569, compared with the previous close of ₹1,441.60
Paytm's shares surged 4.5% to hit a high of Rs 1,506 on the BSE after Bernstein upgraded its target price to Rs 2,200, marking the first time a target price above the IPO price has been assigned to the company. Bernstein raised its target price from Rs 1,500, citing the introduction of the merchant discount rate (MDR) on UPI transactions from FY28E onwards.
The brokerage expects MDR to boost Paytm's net payments margin by 3-4 basis points, leading to a projected 30% increase in FY30E EPS compared to prior forecasts. Bernstein assumes a headline MDR of around 35 basis points, applicable to a subset of UPI P2M transactions, estimating it could generate around Rs 22 billion in additional EBITDA by FY30E.
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- Paytm shares jump 5% after Bernstein assigns target price above IPO price for first time economictimes.indiatimes.com
