Shares of One97 Communications, Paytm's parent will remain in focus today, April 27 after the Reserve Bank of India cancelled the banking licence of Paytm Payments Bank Ltd. Despite the ban, brokerages have maintained bullish call on the stock.
The decision to cancel banking license, effective April 24, 2026, was rooted in years of regulatory friction. In March 2022, the RBI had directed the bank to stop onboarding new customers. In early 2024, further restrictions followed - ban on accepting fresh deposits, credits, or top-ups in customer accounts, wallets, and prepaid instruments.
-
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
India Could Gain If AI Trade Unwinds, US Midterms May Hurt Markets: Ramesh Damani -
'Switch Off The Noise, Focus On Earnings': Raamdeo Agrawal's Advice To Investors -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Courage, Not Tech, Will Decide Corporate Winners In The AI Era: Harvard Professor -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI -
"I Am A Material Man In A Material World': Quantum Advisors' Ajit Dayal On NDTV Profit Ignite
Brokerages maintained a positive outlook, citing no or low impact of RBI action on Paytm Payments Bank. Jefferies' reiterated 'Buy' rating on the stock and raised its target price to Rs 1,350, marking a 17.6% upside from previous closing price of Rs 1,147.35. Meanwhile, Bernstein mainatined 'Outperform' rating on the stock at a target price of Rs 1,500. Taking an optimistic approach, the brokerage highlighted that the development may clear way for company to apply for NBFC or PPI license.
ALSO READ: Paytm Payments Bank License Revoked: What This Means For UPI Users?
Jefferies on Paytm
- Jefferies' maintained 'Buy' rating with a target price of Rs 1350.
- The cancellation of Paytm Payments Bank's License has low impact for Paytm
- All of Paytm's services continue to be operational
Bernstein on Paytm
- The brokerage maintained 'Outperform' coverage with target price of Rs 1500
- RBI cancelling Payments Bank license will not impact the current business/numbers
- Company had taken a write-off related to its investment - hence no one-offs expected either
- Paytm has no role in the current management/board.
- For the super optimistic investor, this development could be seen as clearing the way for the company to apply for a NBFC or PPI license. Additonally, this can pave way for certain payments products (e.g. wallet) and credit products to be offered by Paytm.
ALSO READ: Paytm Payments Bank Board Approves Resolutions For Winding Up After RBI Cancels Licence
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.