Paytm's stock hits 13-month high of ₹950 after reporting first net profit and price target hikes.

Paytm's stock surged by 3.40%, hitting a 13-month high of ₹950, after UBS and Bernstein raised their target prices to ₹1,000. The company reported its first net profit since listing in 2021, at ₹928 crore, largely due to the sale of its ticketing business. UBS, while maintaining a neutral stance, noted that Paytm's digital payment market share is likely stable, and expects EBITDA break-even by Q4 FY25. Paytm's stock has increased by 203% from its low of ₹310.

November 28, 2024
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