GS on Paytm
Buy, TP Rs 1100 (add to conviction list)
Expect Paytm to deliver c.50% revenue growth for next few qtrs & continue its transition from an erstwhile payments-only biz to one with a strong financial services portfolio
GS on Paytm
Buy, TP Rs 1100(add to conviction list)
Steadily raised est. by c.13% (FY24 rev), & are 5%/24% ahead of consensus on FY25 rev/adjusted EBITDA
Recognize lock-in expiry (86% of co’s outstanding shares) in Nov ‘22 may represent an overhang
