Ahead of Q3FY24 results, UBS gives 'buy' call on Paytm, sees 20% upside

Shares of Paytm surged 4.8 per cent to Rs 750 per share on the BSE in Tuesday's intraday trade

Despite a 16 per cent rally over the past one month, global brokerage UBS anticipates Paytm's shares to rally another 20.5 per cent over the next one year as it expects regulatory landscape to turn favourable for the fintech giant.
 

The brokerage has initiated coverage on the stock with a 'Buy' rating and a target price of Rs 900 as it expects the government and NPCI (National Payments Corporation of India) supporting incentives and a small merchant discount rate (MDR) on UPI P2M transactions.
 

"Paytm's stock has seen to multiple de-ratings as the market perceives regulatory tightening for