Pending — not yet graded
“Reiterates a 'Buy' rating on Paytm, raising its target price to ₹1,950 from ₹1,500. This follows a parliamentary amendment enabling potential MDR on UPI transactions above a threshold, creating a new earnings stream. JM Financial estimates incremental revenue of ₹200 crore in FY27 and ₹440 crore in FY28 from a 25-basis-point industry-wide MDR on 30% of UPI GMV.”
JM Financial Analysis’s track record: 4 graded calls · 95% CI 5–70%
PaytmBullishCalled 15 Aug 2026
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