Paytm shares hit 52-week high as UBS sets ₹1,000 target price

Paytm-parent One97 Communications' shares jumped to a 52-week high of ₹949.95 on Thursday before paring some gains and ending at ₹927.50. The surge comes after UBS raised the target price for the shares from ₹490 to ₹1,000. The brokerage firm, however, retained its 'neutral' rating for the stock. Earlier, Bernstein also raised its target price for Paytm shares to ₹1,000.