Paytm Shares See Big Surge After RBI Relief; Experts Share Investment Opinions and Targets

Paytm Share Target Price After the big relief from the Reserve Bank, Paytm shares have hit a 52-week high. Along with this, brokerage houses have also become bullish on the company's shares. Out of 19 analysts, 10 have given big target prices with buy rating on the shares.

Late night of August 12, great news came for Paytm shareholders and its pleasant effect is being seen in the market on August 13. Actually, RBI has given in-principle approval to this fintech company to work as an online payment aggregator, and has also lifted the ban on adding new merchants.

After this, the shares of Paytm's parent company One97 Communications Limited opened at a 52-week high of Rs 1150 on August 13 and climbed up to 6 percent to reach the level of Rs 1187. In such a situation, now new investors and old investors, who have been investing in Paytm shares since the IPO, have a question in their mind whether the shares will rise further now. The answer to this has been given by brokerage and 19 analysts.

What a big relief is this for the company

RBI announced late Tuesday night that the regulator has lifted the merchant onboarding restrictions imposed on Paytm Payment Service Limited in November 2022, but the firm has been authorized to conduct system audits including cyber security. This news has proved to be a boon for Paytm. Earlier, when RBI had banned Paytm in this matter, the shares had seen a huge decline.

Brokerage is also bullish on Paytm shares

Paytm shares are trading at Rs 1178 with a gain of more than 5 per cent. Brokerage firm Citi has given a BUY rating on Paytm shares and has given a target price of Rs 1215.

It said that getting the license after almost three years is a positive move for positive sentiment as it removes a major regulatory restriction on its business.

Brokerage firm Citi said that now with the ban lifted, Paytm will expand its business on a relatively large scale.

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Brenstein has also given a target price of Rs 1100 while giving an outperform rating on Paytm shares. This brokerage firm also said that this relief is a better news for Paytm.

The special thing is that out of 19 analysts who have coverage on Paytm shares, 10 have given a buy rating on the stock, while 5 have given a hold rating and four analysts have given a sell rating. In this, the biggest target price of Rs 1400 on Paytm shares has been given by Daulat Capital.