New Delhi, PTI. Shares of One97 Communications-owned Paytm made a comeback on Friday after a sharp fall in the past few sessions. Notably, the shares had hit a low of Rs 1,000 recently. On Friday, the stock closed at Rs 1,116 per share, up 8.2 per cent. However, brokerage house Macquarie, in its new report, reduced its target price for the stock from Rs 1,200 to Rs 900 and retained its underperform rating.

Further, citing lower revenue and higher employee as well as software cost, the company has projected a loss of 16-27 per cent in its financial results for FY22. The company’s shares were down 29 per cent after listing on the exchanges on November 18, 2021. It was one of the worst opening stock on Indian exchanges. NSE data shows that Paytm’s parent company One97 Communications currently has a total market capitalization of Rs 72,350 crore.

Let us tell you that in the midst of increasing trend of payment through digital medium in the country, Paytm Payments Bank has become the highest receiving bank with 92.61 crore transactions through UPI (Unified Payments Interface) during December 2021. State Bank of India (SBI) has emerged as the largest remittance bank through UPI during this period, according to data released by the National Payments Corporation of India (NPCI).

Paytm Payments Bank Limited (PPBL) claimed that it has become the first bank in the country to achieve the milestone of over 926 crore UPI transactions in a month. SBI Bank has emerged as the second largest bank with 66.49 crore transactions through UPI.

Edited By: Ashish Deep