Paytm share price extends rally as BofA Securities upgrades the stock, expects 24% upside
BofA Securities believes Paytm’s operational leverage has room to surprise and sees the company’s margins improving on back of revenue mix shiſt towards high margin Soundbox & lending revenues.
Paytm share price rallied over 4% on Friday, extending its rally for the third consecutive session amid upbeat sentiment. The stock price of One 97 Communications, the parent company of Paytm, rose as much as 4.8% to an intraday high of ₹809.45 apiece on the BSE. The stock witnessed more than 6% gains in the previous session.
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