Paytm share price rises 3% to hit a 52-week high; Bernstein initiates coverage
Paytm share price rose almost 3 per cent to hit its fresh 52-week high of ₹931 in morning trade on BSE on Thursday. The brokerage firm expects Paytm's loan disbursal volumes to grow sharply and achieve a market share of nearly 4 per cent by FY26E in the high-yield household lending segment, with more than 13 per cent interest rate. "On a weekly scale, if Paytm manages to sustain above ₹915 level then we may see fresh longs for a target of ₹1,000 and stop loss should be placed near ₹970 on a daily closing basis," said Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers. Paytm announced its April-June quarter results for fiscal 2023-24 last month, reporting a consolidated net loss of ₹357 crore, sharply narrowed compared to a loss of ₹6,444 crore in the corresponding period last year.
Paytm share price rallies over 8%; jumps 120% in four months. More steam left?
Paytm share price hits upper circuit after touching 52-week low. Buy or wait?
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