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Paytm up 5%: Here's why foreign brokerages remain bullish on the stock

Analysts at Goldman Sachs, Bernstein and Morgan Stanley believe that Paytm can rally up to 75 per cent in a bull case scenario

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Puneet WadhwaDeepak Korgaonkar New Delhi / Mumbai

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Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's intraday trade.

The up move in the stock on Monday came after the Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI), in post stock market hours on Friday, to look into the possibility of migrating PPBL customers, using the UPI handle '@paytm', to four-to-five other banks.

This move, most analysts believe, will smoothen

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First Published: Feb 26 2024 | 2:10 PM IST

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