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The Economic Times
The Economic Times
Debaroti Adhikary

Paytm shares jump 7% as Jefferies, other brokerages raise target prices and earnings estimates after new UPI charges

Paytm Jefferies UPI JM Financial Emkay Global Pine Labs Debaroti Adhikary SEBI

Paytm shares sharply rallied more than 7% on Wednesday as brokerages issued bullish notes and increased target prices for the fintech stock after the government announced the first-ever Merchant Discount Rate (MDR) on select UPI transactions above Rs 2,000.

The company's shares rallied sharply to Rs 1,855.50 apiece on NSE, on track to record the sharpest single-day jump since August 10, when they surged 10% after Bernstein gave its first-ever price target above the company’s original IPO price.

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