Paytm Share Price Rises by 8% in Intraday Trading on BSE
Paytm’s parent company, One 97 Communications, has been performing well in the stock market for the past few months. In six months, it has become 38% stronger and is now in a green zone from December 2022 onwards. In intraday trading today, Paytm’s share price rose by 8% to reach INR 785.50 on BSE. However, it has slightly fallen to INR 765.55 with a 5.30% increase. The question arises whether investing in Paytm is still a good opportunity or should one wait for a decline.
Brokerage Firms Positive on Paytm’s Future
Paytm’s recent business update has impressed domestic brokerage firm Motilal Oswal, which has set a target price of INR 900 for the company’s shares. Paytm’s gross merchandise value (GMV) has been increasing, and it reached INR 2.65 lakh crore annually, increasing by 35% every year. The loan disbursement of Paytm has also been increasing, and it is now partnering with seven entities to expand its reach.
Paytm’s Loan Business is Gaining Traction
Paytm’s loan business has increased rapidly in the last eight quarters. In the previous two months, Paytm’s average monthly users have increased by 24%, reaching 9.2 crore. The consolidated net loss of Paytm has decreased to INR 168.4 crore, and its operational revenue has increased by 51.5% annually to INR 2,334.5 crore.
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