Paytm’s share price surged 3% on April 2, reaching a six-week high of ₹822.70 amid a 25% rally in 15 sessions. The stock gained after the company partnered with the Greater Hyderabad Municipal Corporation (GHMC) to simplify property tax collection using Paytm’s All-In-One EDC devices.
Shares of One 97 Communications Ltd., the parent company of Paytm, surged 3% on April 2, reaching a six-week high of ₹822.70. The fintech giant, headquartered in Noida, Uttar Pradesh, is a leader in India’s digital payments and financial services sector. The stock has been on an upward trajectory since March 11, gaining 25% in 15 trading sessions.
The latest boost in Paytm’s share price came after the company partnered with the Greater Hyderabad Municipal Corporation (GHMC) to streamline property tax collection. Paytm has deployed over 400 All-In-One EDC devices (card machines) across multiple collection centers and for door-to-door payments, allowing Hyderabad residents to pay taxes via credit cards, debit cards, and UPI-based QR codes.
Paytm also announced that these devices are integrated with the GHMC app, enabling officials to check pending dues, collect payments instantly, and generate on-the-spot receipts.
Market Analysts Predict Further Upside
Paytm’s wholly-owned subsidiary, Paytm Money, recently received regulatory approval to operate as a SEBI-registered research analyst, allowing it to provide investment insights and research reports.
Brokerage firm JM Financial has maintained a ‘Buy’ rating on Paytm, citing potential regulatory triggers that could boost the company’s future performance. Analysts highlighted three key developments:
- Introduction of Merchant Discount Rate (MDR) on large UPI transactions.
- Lifting of the embargo on Paytm Payments Bank.
- Granting of a Payment Aggregator (PA) or Payment Gateway (PG) license.
At the current market price, analysts estimate that if any of these regulatory triggers materialize, Paytm’s FY27 EBITDA estimate could rise by 35%, with a potential price target of ₹1,010 by March 2026.
Technical Indicators Signal a Bullish Breakout
Anshul Jain, Head of Research at Lakshmishree Investment and Securities, noted that Paytm’s stock is forming a bullish ‘cup and handle’ pattern, signaling strong institutional accumulation. A break above ₹825 could confirm the breakout, setting a price target near ₹998.
As Paytm continues its recovery from past challenges, investors and traders are closely watching for sustained momentum above ₹825, which could trigger a sharper rally in the coming weeks.
