Paytm drops 5% after approval of incentive for low-value UPI transactions

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The story "Paytm drops 5% after approval of incentive for low-value UPI transactions" was covered 14 hours ago by Business Standard, a news publisher based in India.

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Paytm drops 5% after approval of incentive for low-value UPI transactions - Business Standard

Quick Summary:

Paytm stock settled at ₹733.15, down 3.92 per cent from the previous day's close of ₹763.

According to media reports, global brokerage firm Jefferies has maintained a 'hold' rating on the stock, with a price target of ₹850 per share.

We expect the company to gain traction in new customer onboarding and grow its MTU base, which will enable healthy cross-selling, while growth in the merchant business will remain the key profitability driver in the near term," MOFSL said.