
Paytm’s shares dropped by 5% after Macquarie Research reiterated its “Underperform” rating on the stock, setting a target price of ₹730. Despite a strong Q3 earnings report that showed better-than-expected revenue and reduced ESOP costs, Macquarie remains cautious on Paytm’s long-term sustainability.
Key Highlights:
- Earnings Beat: Paytm exceeded expectations in Q3, with improved revenue and lower ESOP costs.
- Loss Reduction: The company posted better-than-anticipated loss reduction, driven by effective cost controls.
- GMV & Revenue Growth: Paytm’s GMV showed strong growth, with improving operating leverage and higher distribution revenue potential.
Macquarie’s bearish stance continues due to concerns about Paytm’s valuation despite operational improvements.
Paytm’s shares opened at ₹901.00, reaching a high of ₹911.45 and a low of ₹847.80 during the day. The stock has seen a significant fluctuation over the past 52 weeks, with a high of ₹1,062.95 and a low of ₹310.00.
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