Paytm shares surge 9% as Bernstein sets target above its IPO price

Shares of One97 Communications, Paytm's parent, rose nearly 9% intraday on Monday after brokerage Bernstein raised its target price to ₹2,200. The stock touched ₹1,565.90 on the NSE, while the revised target surpassed Paytm's ₹2,150 IPO price for the first time since its 2021 listing. Bernstein said its estimates now factor in UPI Merchant Discount Rate (MDR) from FY28.