Paytm, while JPMorgan has an overweight rating on Bajaj Finance. Meanwhile, Nuvama has a buy rating, and Macquarie has an underperform rating on Zomato, respectively.
Bernstein has maintained an ‘outperform’ rating for Paytm with a target price of Rs 600. The first regulatory catalyst has arrived, allowing new users to be onboarded, which could mark a bottom in Monthly Transacting Users (MTUs) that had been steadily declining due to previous restrictions.
This positive development comes after a series of negative actions over the past 3-4 quarters, offering welcome relief and increasing the likelihood of other favorable regulatory outcomes.
JPMorgan has maintained an ‘overweight’ rating on Bajaj Finance and reduced the target price to Rs 7,300 from Rs 8,000.
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