First 'Buy' report on Paytm sees firm turning profitable by 2026

Dolat Capital Market has set a target price of Rs 2,500, which is 16% higher than the company's issue price

Paytm, which has moved wildly since its listing after India’s largest initial public offering, has received the first buy rating from a brokerage that expects the company to turn profitable by March 2026.
 

Dolat Capital Market Pvt, the third brokerage to initiate coverage on the digital payments giant after Macquarie Capital Securities and JM Financial Institutional Securities Ltd., said its transition to a “manufacturer” of financial services from an agent, cross-selling of services, and strong growth in the number of users will help the company.

Paytm’s “super app” has emerged from a pure “want” category to reach to the