Synopsis
In the quarter ended March, Paytm clocked 51% year-on-year revenue growth to INR2,334 crore, led by an increase in GMV, higher merchant subscription revenues, and growth of loans. This has also rubbed off on its stock performance. But the market is split on taking a long-term call on the stock. What does it need to do?
Shares of One97 Communications, better known as Paytm, have been one of the top performing among the New Age companies so far in 2023. The stock is up 31% for the year to date at INR695, and analysts’ optimism seems to have paid off investors well. But both investors and analysts are confused about the future. Paytm’s stock may be going up and will eventually catch up to its IPO price but nobody wants to take a long-term call on the stock. Why?
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