Paytm Shares Rise 18% in a Month; Motilal Oswal Sees Further 34% Upside
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Last Updated: April 20, 2023, 14:24 IST Motilal Oswal Securities said Paytm has reported a healthy traction in growing its gross merchandise value (GMV) at 55 per cent CAGR Suggesting that Paytm’s two-pronged strategy will drive profitability, the brokerage noted that Paytm achieved breakeven in adjusted Ebitda Paytm shares rose on Thursday after domestic brokerage Motilal Oswal Financial Services initiated coverage on the digital payments firm’s stock with a ‘buy’ rating and a target price of Rs 865 — implying upside potential of 34.2 per cent from its closing price on Wednesday. In last one month, One 97 Communications share price has risen to the tune of 18 per cent in last one month, whereas in YTD time, this fintech stock has shot up to the tune of 24 per cent. Suggesting that Paytm’s two-pronged strategy will drive profitability, the brokerage noted that Paytm achieved breakeven in adjusted Ebitda in the December quarter, well ahead of its guidance. It said that a con