Paytm’s buyback plan shows management confidence on business, profitability: Analysts

NEW DELHI: India’s leading fintech giant Paytm on Thursday announced that its board of directors will hold a meeting on December 13 to consider a proposal for a share buyback.

Optimistic about its growth prospects and reasserting its guidance on turning profitable at an operating level next year, top brokerage firm Dolat Capital has said that the buyback will clear the cloud on the looming concern. Brokerage ICICI Securities also echoed the same by saying that the company remains “ahead of the guided timeline to achieve operating profitability”

Analysis and research firm Dolat Capital has also reiterated its stock rating to ‘Buy’ and continued to maintain Paytm’s stock at a target price of Rs 1,400, with an upside of 175 per cent.