Emkay Global has upgraded Paytm to “Add” from “Reduce,” with a significant target price hike to ₹750 from ₹375. The brokerage cites easing regulatory pressures and efforts to optimize operational expenses as key factors that may help restore profitability. Management also anticipates the loan distribution business to re-accelerate, while the broking and insurance distribution segments have already turned profitable.
In addition, Paytm’s recent sale of its entertainment business in Q2 is expected to bolster its cash reserves. The company remains open to divesting other non-core businesses and aims to achieve positive operating EBITDA (excluding ESOP and UPI incentives) by Q4FY25.
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