New Delhi. Shares of Paytm's parent company One 97 Communications saw a sharp jump on Tuesday. The company's stock rose by 18.47% to an intraday high of Rs 771.95, and finally closed at Rs 753.60 with a gain of 15.65%. The stock has registered a jump of 143.10% from its one-year low of Rs 310 in May 2024 this year. However, it is still 24.51% below its 52-week high of Rs 998.30 (August 2023).

The main reason behind this recent surge is the announcement of Paytm Money, in which the company has started BSE Futures and Options (F&O) trading service on its platform. This service will be available at the rate of Rs 20 per trade, which can attract more and more retail investors.

Where will the stock go next?
Market analysts believe that Paytm's stock may see a further rise. According to experts, the short-term target of the stock can go up to Rs 900, while it may get support if it falls to Rs 664 and Rs 650. Market expert Raghavendra Singh said, "The stock has shown a strong breakout above Rs 700. Investors can hold it with a target of Rs 850 to Rs 900. If the momentum continues, this stock can also cross Rs 1,000 in the next three months."

Senior technical analyst Ameya Ranadive said, "The stock is currently trading at Rs 750, which shows its strength. If this momentum continues, the stock can go up to Rs 860. However, the support level of Rs 650 is important." Apart from this, SEBI registered analyst A.R. Ramachandran said, “If the stock closes above the resistance level of Rs 756, then it can see a rise to Rs 860 in the short term.”

Paytm recently sold its entertainment ticketing business to Zomato for Rs 2,048 crore, which has strengthened the company's financial position. However, some challenges remain due to the restrictions imposed by RBI on Paytm Payments Bank.