Paytm Share price has seen an increase of up to 8 percent today. After which the share price of the company has reached close to Rs 786 in BSE. The brokerage has buytagged it.
Paytm Share price has seen an increase of up to 8 percent today. After which the share price of the company has reached close to Rs 786 in BSE. Due to the rise in the company’s shares, brokerage firm BofA Securities has given a ‘buy’ tag to this fintech company. The brokerage house has set a target price of Rs 885 (Paytm target price).
What has the brokerage house said?
According to ET’s report, brokerage firm BofA Securities believes that the company will regain the revenue momentum. Due to which the possibility of performing better than expected has increased. The brokerage house believes that Paytm will get the benefit of the government scheme ONDC. The company is currently in a good position.
Excellent performance of the company in May
In the first week of June, Paytm reported in its report that the Monthly Transacting Users (MTU) stood at 92 million in May. There has been an increase of 24 percent in MTU year-on-year. Apart from this, Paytm has also disbursed a loan of Rs 5502 crore in May. An increase of 169 per cent has been registered in terms of disbursement of loans on an annual basis. Let me tell you, the company’s net loss had come down to Rs 168 crore in the March quarter.
More than 50 percent return in 6 months
Shares of Paytm opened at Rs 785 on BSE on Thursday. At 3 pm, one share of Paytm was trading at Rs 772.15, a gain of 6.21 per cent. Paytm shares have gained more than 50 percent in the last 6 months.
