After paytm partnered with RBL to move its POS payment systems, paytm stock has skyrocketed to sustain above Rs 400 level. Also NPCI’s nod to Paytm to operate as a 3rd party UPI app has reduced the negativities that prevailed before a week.
Yes Securities has sharply upgraded the stock target to Rs 505 from Rs 350.
The keytakeaway here is a regulatory slap can sink a share to an unpredictably low level. However, that can create a good opportunity to leverage the quick recovery of the stock over any positive sentiment development.
