# PAYTM (PAYTM) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/paytm

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,819
- Change: +3.18%
- As of: 2026-09-18
- 1D return: +4.93%
- 5D return: +6.38%
- 1M return: +15.36%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, the stock is trading at ₹1849.9, showing a strong bullish technical stance across daily, weekly, and monthly timeframes. All observed moving averages and the Supertrend indicator are below the current price on the daily chart, indicating upward momentum. This alignment extends to the weekly and monthly charts, where the price also remains above key moving averages and the Supertrend, reinforcing the bullish trend. The stock is currently positioned near its highest range over the past 252 trading periods, indicating it is trading at the upper end of its recent trading history. Recent market activity shows 2 positive attention events in the last 30 days, with no downside or neutral events.

Nearest support is observed at ₹1840.93, followed by ₹1801.97. Resistance is noted at ₹1865.57, which is approximately 0.85% above the current price. The stock's annualized volatility stands at 0.41, with a current drawdown of 0.0%. The maximum historical drawdown was -0.33%. An extreme upward volume anomaly occurred on September 16, 2026, with a volume ratio of 3.66 and a z-score of 10.2, suggesting significant buying interest on that day.

Key watch conditions include monitoring the price action around the nearest resistance level of ₹1865.57. A sustained break above this level could signal further upward movement. Conversely, a close below the nearest support at ₹1840.93 might indicate a short-term pullback. The strong alignment across timeframes suggests the current bullish trend is well-supported, but proximity to historical highs warrants attention.

- The stock is trading above key daily, weekly, and monthly moving averages and the Supertrend indicator, indicating a strong bullish trend.
- Nearest support is at ₹1840.93, with resistance identified at ₹1865.57.
- The stock is trading near its highest range over the past 252 trading periods.
- An extreme upward volume anomaly was observed on September 16, 2026.
- Watch for price action around ₹1865.57 (resistance) and ₹1840.93 (support) for potential trend continuation or reversal signals.

- Inside Bar
- Bearish Engulfing Reversal
- Outside Bar

### News Context

Paytm's business outlook is being shaped by upcoming changes to Merchant Discount Rate (MDR) rules for Unified Payments Interface (UPI) transactions. Effective October 15, 2026, a 0.4% MDR will be applied to person-to-merchant (P2M) UPI transactions exceeding ₹2,000, with a cap of ₹300. This change explicitly excludes person-to-person and small-value payments. Paytm's CEO, Vijay Shekhar Sharma, has indicated that these new charges are expected to significantly boost the company's revenue and profitability, potentially providing a competitive advantage. However, the ultimate financial benefit to Paytm will depend on the distribution of these MDR charges and ongoing market competition.

- A 0.4% MDR will apply to eligible P2M UPI transactions above ₹2,000 from October 15, 2026.
- Paytm CEO Vijay Shekhar Sharma anticipates increased revenue and profitability from the new UPI charges.
- The new MDR aims to provide Paytm with a competitive edge, though its full impact depends on MDR distribution and competition.
- One article from September 17, 2026, noted that the eventual benefits to Paytm will depend on how MDR is distributed among stakeholders.
- Another report on September 17, 2026, mentioned that the return of MDR is set to change UPI's market share dynamics.

- Paytm’s UPI windfall faces a reality check from MDR sharing, competition
- Paytm, Tata Chemicals, Kalyan Jewellers: Stocks to trade — Key levels, target price & stop loss
- Decoding MDR’s impact; EV bikes’ policy change sparks debate
- Paytm CEO Foresees Increased Profitability From New UPI Charges
- New MDR norms for UPI to add more revenue, bottom line to business: Paytm CEO - The Economic Times

### What Changed

As of September 18, 2026, One 97 Communications (PAYTM) on the NSE has experienced a price increase from ₹1763.0 to ₹1849.9. This marks a recent upward movement in the stock's trading value. No new filings or news developments were reported in the new developments section.

The company's profile and exchange listing on the NSE remain unchanged from prior context.

- On September 18, 2026, PAYTM's price was ₹1849.9, up from ₹1763.0.
- The company continues to be listed on the NSE.
- No new filings or news were reported as of September 18, 2026.

### Official Filings

One 97 Communications Limited (Paytm) has disclosed a significant regulatory development impacting its merchant services. Effective October 15, 2026, the National Payments Corporation of India (NPCI) will introduce a Merchant Discount Rate (MDR) of up to 0.4% on Unified Payments Interface (UPI) Person-to-Merchant (P2M) transactions exceeding ₹2,000. This change is expected to generate additional revenue for the company's merchant business, while customer-facing UPI payments will remain free.

In parallel, the company held its 26th Annual General Meeting (AGM) on September 15, 2026. Key resolutions passed included the adoption of financial statements for the year ended March 31, 2026, and the re-appointment of director Ravi Chandra Adusumalli. Shareholder approval was also granted for revised remuneration for Managing Director Vijay Shekhar Sharma and other directors, alongside amendments to the One 97 Employees Stock Option Scheme 2019. Furthermore, shareholders consented to a revised timeline for utilizing Initial Public Offering (IPO) proceeds until March 31, 2029, with 91.69% approval for both the stock option scheme amendments and the IPO proceeds utilization.

- On September 15, 2026, NPCI introduced an MDR of up to 0.4% on UPI P2M transactions over ₹2,000, effective October 15, 2026, which is expected to create new revenue for Paytm's merchant business.
- The 26th AGM was held on September 15, 2026.
- Shareholders approved the adoption of financial statements for the year ended March 31, 2026.
- Revised remuneration for Managing Director Vijay Shekhar Sharma and other directors was approved.
- Shareholder approval was granted for amendments to the One 97 Employees Stock Option Scheme 2019 and a revised timeline for utilizing IPO proceeds until March 31, 2029.

- One 97 Communications Limited has submitted the Exchange about the Disclosure under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) - Voting Results and Scrutinizer s Report of the 26th Annual General Meeting of the Company. |SUBJECT: Shareholders meeting
- One 97 Communications Limited has informed the Exchange regarding Proceedings of the 26th Annual General Meeting of the Company |SUBJECT: Shareholders meeting
- One 97 Communications Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) - Introduction of MDR on UPI P2M transactions above ₹2,000 |SUBJECT: Effect(s) on listed entity due to changed regulatory framework applicable
- One 97 Communications Limited has informed the Exchange about Change in regulatory framework (Sub-para 7-Para B) |SUBJECT: Change in regulatory framework (Sub-para 7-Para B)
- One 97 Communications Limited has informed the Exchange about Clarification regarding media report dated September 9, 2026 |SUBJECT: Rumour Verification - Regulation 30(11)
- One 97 Communications Limited has informed the Exchange regarding Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Allotment of 4,74,714 equity shares pursuant to exercise of stock options under One 97 Employees Stock Option Scheme 2019 |SUBJECT: ESOP/ESOS/ESPS
- One 97 Communications Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL
- One 97 Communications Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Newspaper Advertisement regarding completion of dispatch of Notice of 26th Annual General Meeting ( AGM ) of Members of the Company and the Annual Report for financial year 2025-26along with other related information |SUBJECT: Copy of Newspaper Publication
- One 97 Communications Limited has informed the Exchange regarding Disclosure under Regulation 30 and 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Dispatch of letter to shareholders whose e-mail addresses are not registered with Company/ Registrar & Share Transfer Agent/ Depository Participant(s). |SUBJECT: Updates
- One 97 Communications Limited has informed the Exchange regarding Notice of 26th Annual General Meeting scheduled to be held on Tuesday, September 15, 2026 along with Annual Report for the financial year 2025-26 |SUBJECT: Shareholders meeting

### Fundamentals

One 97 Communications, trading on the NSE, reported its financial results for the period ending Q1 FY2026-27. Revenue from operations showed a sequential increase, rising to ₹2,448 crore in Q1 FY2026-27 from ₹2,264 crore in Q4 FY2025-26. Expenses also increased, reaching ₹2,383 crore in Q1 FY2026-27 compared to ₹2,269 crore in the prior quarter. Profit Before Exceptional Items And Tax was reported at ₹247 crore for Q1 FY2026-27, an increase from ₹173 crore in Q4 FY2025-26. Similarly, Profit Before Tax also stood at ₹247 crore in Q1 FY2026-27, up from ₹194 crore in Q4 FY2025-26. Finance costs were ₹7 crore in Q1 FY2026-27. The company reported a Basic Earnings Loss Per Share From Continuing Operations of ₹3.44 per share in Q1 FY2026-27, a decrease from ₹2.87 per share in Q4 FY2025-26.

- Revenue from operations increased to ₹2,448 crore in Q1 FY2026-27 from ₹2,264 crore in Q4 FY2025-26.
- Expenses rose to ₹2,383 crore in Q1 FY2026-27 from ₹2,269 crore in Q4 FY2025-26.
- Profit Before Exceptional Items And Tax was ₹247 crore in Q1 FY2026-27, compared to ₹173 crore in Q4 FY2025-26.
- Profit Before Tax was ₹247 crore in Q1 FY2026-27, up from ₹194 crore in Q4 FY2025-26.
- Basic Earnings Loss Per Share From Continuing Operations was ₹3.44 per share in Q1 FY2026-27, compared to ₹2.87 per share in Q4 FY2025-26.

### Bull Case

The company's operating performance may see a constructive outlook due to the introduction of Merchant Discount Rate (MDR) on certain UPI transactions. The CEO has indicated that this new fee structure, effective October 15, on person-to-merchant (P2M) UPI transactions exceeding ₹2,000 is expected to significantly boost revenue and profitability. This change aims to provide a competitive edge by generating additional revenue streams from these larger value transactions, while everyday person-to-person and small value payments remain unaffected. Additionally, technical indicators suggest a bullish trend across daily, weekly, and monthly timeframes, with the Supertrend indicator showing a bullish direction on all observed periods.

- The introduction of a 0.4% MDR on eligible person-to-merchant (P2M) UPI transactions above ₹2,000, effective October 15, is anticipated by the CEO to increase company revenue and profitability.
- The company's CEO has stated a focus on generating free cash flow and expanding internationally.
- Technical indicators show a bullish trend on daily, weekly, and monthly timeframes, with the Supertrend indicator in a bullish direction.
- The Supertrend indicator is positioned at 1601.97 on the daily chart, 1100.37 on the monthly chart, and 1425.85 on the weekly chart, all indicating a bullish sentiment.

- Paytm’s UPI windfall faces a reality check from MDR sharing, competition
- Paytm, Tata Chemicals, Kalyan Jewellers: Stocks to trade — Key levels, target price & stop loss
- Decoding MDR’s impact; EV bikes’ policy change sparks debate
- Paytm CEO Foresees Increased Profitability From New UPI Charges
- New MDR norms for UPI to add more revenue, bottom line to business: Paytm CEO - The Economic Times

### Bear Case

The company's revenue and profitability from UPI transactions face potential headwinds due to the introduction of Merchant Discount Rate (MDR) sharing and ongoing competition. While the CEO anticipates increased profitability from new UPI charges, the ultimate benefit will depend on the distribution of MDR and competitive dynamics. The stock's technical indicators show a strong bullish trend across daily, weekly, and monthly timeframes, with the Supertrend indicator suggesting upward momentum. However, the annualized volatility stands at 0.41, and the maximum drawdown recorded is -0.33, indicating potential for price fluctuations.

- Effective October 15, a 0.4% MDR will apply to eligible person-to-merchant (P2M) UPI transactions above ₹2,000, with potential benefits to Paytm contingent on MDR distribution and competitive factors.
- The company's stock exhibits a strong bullish technical trend, with the Supertrend indicator showing a bullish direction on daily, weekly, and monthly charts.
- The annualized volatility is 0.41, and the stock has experienced a maximum drawdown of -0.33.
- Recent returns show a 1-year return of 0.5 and a year-to-date return of 0.43, with a 6-month return of 0.72.

- Paytm’s UPI windfall faces a reality check from MDR sharing, competition
- Paytm, Tata Chemicals, Kalyan Jewellers: Stocks to trade — Key levels, target price & stop loss
- Decoding MDR’s impact; EV bikes’ policy change sparks debate
- Paytm CEO Foresees Increased Profitability From New UPI Charges
- New MDR norms for UPI to add more revenue, bottom line to business: Paytm CEO - The Economic Times

### FAQs

**How will the new Merchant Discount Rate (MDR) on UPI transactions affect Paytm's revenue?**

Effective October 15, 2026, a 0.4% MDR will apply to eligible person-to-merchant (P2M) UPI transactions exceeding ₹2,000. Paytm's CEO, Vijay Shekhar Sharma, stated that this change is expected to significantly increase the company's revenue and profitability for its merchant business, while UPI payments for customers will remain free. The eventual benefits will depend on how the MDR is distributed.

**What were the key outcomes of Paytm's 26th Annual General Meeting held on September 15, 2026?**

At the 26th Annual General Meeting on September 15, 2026, shareholders approved the financial statements for the year ended March 31, 2026, and re-appointed director Ravi Chandra Adusumalli. The meeting also approved a revision in remuneration for Managing Director Vijay Shekhar Sharma and other directors. Additionally, shareholders authorized amendments to the One 97 Employees Stock Option Scheme 2019 and approved a variation in the objects and timeline for utilizing Initial Public Offering proceeds.

**What is the current technical trend for One 97 Communications (Paytm) as of September 18, 2026?**

As of September 18, 2026, the daily, weekly, and monthly technical trends for One 97 Communications are indicated as bullish. The SuperTrend indicator is 'bullish' across all these timeframes, with the daily SuperTrend at ₹1601.97, weekly at ₹1425.85, and monthly at ₹1100.37. The closing price on this date was ₹1849.9.

**How has Paytm's stock performed over different periods leading up to September 18, 2026?**

As of September 18, 2026, One 97 Communications (Paytm) has shown varied returns across different periods. The stock returned 5% in the last day, 20% over 10 days, 13% over 20 days, 20% in the last month, 69% in the last three months, and 72% in the last six months. The year-to-date return was 43%, and the return since the start of trading was 87%. The return over the last year was 50%.

- Paytm’s UPI windfall faces a reality check from MDR sharing, competition
- Paytm, Tata Chemicals, Kalyan Jewellers: Stocks to trade — Key levels, target price & stop loss
- Decoding MDR’s impact; EV bikes’ policy change sparks debate
- Paytm CEO Foresees Increased Profitability From New UPI Charges
- New MDR norms for UPI to add more revenue, bottom line to business: Paytm CEO - The Economic Times
- One 97 Communications Limited has submitted the Exchange about the Disclosure under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) - Voting Results and Scrutinizer s Report of the 26th Annual General Meeting of the Company. |SUBJECT: Shareholders meeting
- One 97 Communications Limited has informed the Exchange regarding Proceedings of the 26th Annual General Meeting of the Company |SUBJECT: Shareholders meeting
- One 97 Communications Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) - Introduction of MDR on UPI P2M transactions above ₹2,000 |SUBJECT: Effect(s) on listed entity due to changed regulatory framework applicable
- One 97 Communications Limited has informed the Exchange about Change in regulatory framework (Sub-para 7-Para B) |SUBJECT: Change in regulatory framework (Sub-para 7-Para B)
- One 97 Communications Limited has informed the Exchange about Clarification regarding media report dated September 9, 2026 |SUBJECT: Rumour Verification - Regulation 30(11)
## Technical analytics

- As of: 2026-09-18
- Daily trend: Strong Uptrend
- Weekly trend: Moderate Uptrend
- Pivot point: ₹1,777.33
- Risk regime: Price Risk Requires Attention

### Support levels
- 1594.2
- 1546.3
- 1227

### Resistance levels
- 1865.5666666666664

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +4.93% |
| return_10 | +13.01% |
| return_1m | +19.63% |
| return_1y | +50.48% |
| return_20 | +15.36% |
| return_3m | +69.11% |
| return_5 | +6.38% |
| return_6m | +71.86% |
| return_since_start | +87.31% |
| return_ytd | +43.21% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -32.64% |
| annualized_volatility | +40.63% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Growth Outpaces Expenses, Lifting Quarterly Profit

In the first quarter of FY2026-27, Paytm reported higher revenue from operations, which grew at a faster pace than total expenses. This led to a rise in net profit and improved profit margins compared to both the previous quarter and the same quarter a year ago.

## Revenue and Expenses

Revenue from operations was ₹2,448 crore, up 8.13% from ₹2,264 crore in Q4 FY2025-26 and 27.67% from ₹1,917.5 crore in Q1 FY2025-26. Total expenses amounted to ₹2,383 crore, a 5.02% sequential increase from ₹2,269 crore and an 18.2% year-on-year rise from ₹2,016.1 crore. The revenue growth of 8.13% compared to expense growth of 5.02% widened the gap between the two, supporting higher profit.

## Profitability

Net profit for the quarter was ₹220 crore, a 20.22% increase from ₹183 crore in the previous quarter and a 79.59% increase from ₹122.5 crore in the year-ago quarter. The net profit margin improved to 8.99% from approximately 6.4% a year earlier.

EBITDA (earnings before interest, tax, depreciation, and amortisation) stood at ₹385 crore, translating to an EBITDA margin of 15.73% of revenue from operations. The interest coverage ratio (EBIT divided by finance costs) was 36.29, with EBIT of ₹254 crore and finance costs of ₹7 crore. This indicates that earnings are substantially larger than finance costs.

## Tax and Comprehensive Income

Tax expense was ₹27 crore, entirely current tax, with no deferred tax recognised during the quarter. This represents an effective tax rate of about 10.9% on pre-tax profit of ₹247 crore, up from lower rates in earlier quarters. Other comprehensive income (net of tax) was a loss of ₹2 crore, bringing comprehensive income for the period to ₹218 crore.

## Earnings Per Share

Basic earnings per share was ₹3.44, and diluted EPS was ₹3.40. Both figures rose from ₹2.87 and ₹2.83 in the preceding quarter. The paid-up equity share capital remained at ₹64 crore, with a face value of ₹1 per share.

## Key Takeaway

Paytm’s first quarter of FY2026-27 saw revenue growth outpace expense growth, boosting net profit and expanding profit margins. The company’s earnings were well above its finance costs, and EPS increased from the prior quarter.

### Ratios

## Official filings

- 2026-09-16 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_16092026165901_SEVotingResultsandScrutinizersReportsd.pdf)
- 2026-09-15 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_15092026161124_AGMproceedingssd.pdf)
- 2026-09-15 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_15092026234600_SEDisclosureNPCICircularsd.pdf)
- 2026-09-15 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_19784_WebXMLFile_20260916_000929592.xml)
- 2026-09-09 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_09092026124019_SEIntimationMarketRumour09092026sd.pdf)
- 2026-09-01 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_01092026211530_SEDisclosureAllotmentSep2026sd.pdf)
- 2026-09-01 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_19784_WebXMLFile_20260901_213435521.xml)
- 2026-08-22 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_22082026103258_SEDisclosureNewspaperAdvertisementPostDispatch.pdf)
- 2026-08-22 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_22082026104603_SEDisclosureDispatchofLettertoShareholders.pdf)
- 2026-08-21 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_21082026191613_SEDisclosureNoticeof26thAGMandAnnualReport.pdf)
- 2026-08-21 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_21082026193449_SEDisclosureBRSR.pdf)
- 2026-08-21 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_19784_WebXMLFile_20260821_200156553.xml)
- 2026-08-20 — Annual Report: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/annual_reports/AR_30509_PAYTM_2025_2026_A_14143108_21082026192202.pdf)
- 2026-08-19 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_19082026160853_SEDisclosureNewspaperAdvertisementPreDispatchsd.pdf)
- 2026-08-18 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_18082026162545_SEDisclosureIntimationregarding26thAGMsd.pdf)
- 2026-08-17 — Generic Announcement: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_17082026200839_SEDisclosureAugust172026.pdf)
- 2026-08-13 — Litigation Disclosure: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_PARA_B_19784_WebXMLFile_20260813_122126588.xml)
- 2026-08-12 — Litigation Disclosure: One 97 Communications Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_12082026233757_SEDisclosureSEBISCNAug12sd.pdf)
- 2026-08-02 — Official Filing: One 97 Communications Limited allotted 448629 equity shares under the One 97 ESOP Scheme 2019 on August 1, 2026. This allotment increased the company's paid-up share capital from INR 640,684,481 to INR 641,133,110. The ESOP scheme was initially approved on September 4, 2019, and subsequently amended and ratified by the Board and Shareholders on March 11, 2025, and April 16, 2025, respectively.
- 2026-08-02 — Generic Announcement: On August 1, 2026, the Nomination and Remuneration Committee approved the allotment of 4,48,629 equity shares under the One 97 Employees Stock Option Scheme 2019. This allotment, with an exercise price of ₹9 and a premium of ₹8 per share, increases the company's issued, subscribed, and paid-up equity share capital from ₹64,06,84,481 to ₹64,11,33,110. — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_02082026083144_AllotmentofESOPsAugust022026.pdf)
- 2026-07-30 — Official Filing: One 97 Communications Limited (NSE: PAYTM) has disclosed a schedule of upcoming investor and analyst meetings. These include a meeting on August 5, 2026, the Emkay Annual Investor Conference on August 12, 2026, the Motilal Flagship Conference on August 17, 2026, the UBS India Summit 2026 on September 10, 2026, the Jefferies 5th India Forum in Gurgaon on September 16, 2026, and the J.P. Morgan India Conference on September 21, 2026. The company clarified that XBRL reporting limitations led to the use of single dates and meeting types for validation purposes, with actual meetings spanning multiple days and including both one-on-one and group formats.
- 2026-07-29 — Generic Announcement: One 97 Communications Limited will participate in several analyst and investor meetings and conferences between August 5, 2026, and September 22, 2026. These include the Emkay Annual Investor Conference, Motilal Flagship Conference, UBS India Summit 2026, Jefferies 5th India Forum, and J.P. Morgan India Conference. The company will not share any unpublished price-sensitive information during these events. — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_29072026164010_SEDisclosureScheduleofAnalystsandInvestorsMeetingsConferencessd.pdf)
- 2026-07-29 — Press Release: One 97 Communications Limited launched Paytm Split Bills on the Paytm app on July 29, 2026, to help users track, split, and settle shared expenses for group activities. The feature allows unlimited expense entries at no cost, supporting various settlement methods including Paytm UPI, and aims to consolidate expense management within the Paytm app. — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_29072026101856_SEPressRelease29072026sd.pdf)
- 2026-07-27 — Generic Announcement: One 97 Communications Limited disclosed the transcript of its July 21, 2026 earnings conference call regarding unaudited financial results for the quarter ended June 30, 2026. The company highlighted strong execution, with consumer payment business metrics surpassing January 2024 levels and a focus on aggressive, monetizable customer and merchant acquisition. Future growth is expected from wealth management, credit, and AI-driven services, with increased profitability anticipated. The company also noted the addition of three new independent board directors. — [Official attachment](https://nsearchives.nseindia.com/corporate/PAYTM_27072026115422_SEDisclosureTranscriptofearningscc.pdf)
- 2026-07-27 — Official Filing: One 97 Communications Limited (NSE: PAYTM) disclosed transcripts of its earnings call held on July 21, 2026. The company uploaded these transcripts to its website on July 27, 2026, following a prior intimation to the exchange on July 15, 2026.

## News and market events

- 2026-09-18 — NEWS.WEBINDIA123.COM: **Paytm gains from dual levers of consumer, merchant monetisation under UPI MDR** — Paytm could benefit from the new UPI merchant discount rate (MDR) framework through its presence across both consumer and merchant payments, with brokerages estimating a sizeable revenue opportunity and sharply raising their earnings estimates for the company. — [Source](https://news.webindia123.com/news/articles/business/20260918/4500263.html)
- 2026-09-18 — IANSLIVE.IN: **Bernstein turns more bullish on Paytm after 'better-than-expected' UPI MDR** — New Delhi, Sep 18 (IANS) Global brokerage Bernstein has raised its earnings estimates for Paytm after the final UPI merchant discount rate framework came in better than expected, pointing to sharper monetisation of the company's payments business across both the consumer and merchant sides. — [Source](https://ianslive.in/bernstein-turns-more-bullish-on-paytm-after-better-than-expected-upi-mdr--20260918154651)
- 2026-09-17 — Mint: **Paytm’s UPI windfall faces a reality check from MDR sharing, competition** — Effective 15 October, a 0.4% MDR will apply to eligible person-to-merchant (P2M) UPI transactions above  ₹2,000, subject to a  ₹300 cap, and concessional rates for specified sectors. But the eventual benefits accruing to Paytm will depend on how MDR is distributed, among others. — [Source](https://www.livemint.com/market/mark-to-market/paytm-stock-price-shares-upi-transactions-tax-mdr-one-97-communications-markets-npci-11789623229329.html)
- 2026-09-17 — BUSINESSTODAY: **Paytm, Tata Chemicals, Kalyan Jewellers:  Stocks to trade — Key levels, target price & stop loss** — Stocks to buy, Stock picks, Stocks to trade, trading views, Tata Chemicals, One 97 Communications, Paytm, Kalyan Jewellers India, Tata Chemicals shares, Paytm shares, Kalyan Jewellers shares, Tata Chemicals share price, Paytm share price, Kalyan Jewellers share price, Tata Chemicals stock price, Paytm stock price, Kalyan Jewellers stock price, Tata Chemicals target price, Paytm target price, Kalyan Jewellers target price — [Source](https://www.businesstoday.in/markets/stocks/story/paytm-tata-chemicals-kalyan-jewellers-top-stocks-to-trade-key-levels-target-price-stop-loss-556022-2026-09-17)
- 2026-09-17 — Economic Times: **Decoding MDR’s impact; EV bikes’ policy change sparks debate** — Happy Thursday! The return of MDR is set to change UPI's market share game. This and more in today's ETtech Morning Dispatch. — [Source](https://economictimes.indiatimes.com/tech/newsletters/morning-dispatch/decoding-mdrs-impact-ev-bikes-policy-change-sparks-debate/articleshow/134298627.cms)
- 2026-09-16 — REDIFF.COM: **Paytm CEO Foresees Increased Profitability From New UPI Charges** — Paytm CEO Vijay Shekhar Sharma stated that the government's new Merchant Discount Rate (MDR) on large-value UPI transactions will significantly increase the company's revenue and profitability. The 0.4% fee on UPI transfers exceeding Rs 2,000 to merchants, effective October 15, is expected to give Paytm a competitive edge. Sharma also highlighted the company's focus on generating free cash flow, expanding internationally, and developing proprietary artificial intelligence capabilities to drive f... — [Source](https://www.rediff.com/business/report/new-upi-mdr-norms-to-boost-paytm-revenue-says-ceo/20260916.htm)
- 2026-09-16 — Economic Times: **New MDR norms for UPI to add more revenue, bottom line to business: Paytm CEO - The Economic Times** — The government has introduced a 0.4% fee on UPI transfers exceeding Rs 2,000 to merchants from October 15, while explicitly ring-fencing everyday person-to-person transactions as well as small payments from any charge. — [Source](https://economictimes.indiatimes.com/tech/technology/new-mdr-norms-for-upi-to-add-more-revenue-bottom-line-to-business-paytm-ceo/articleshow/134292144.cms)
- 2026-09-16 — BUSINESSTODAY: **Paytm, KRN Heat Exchanger, Ather Energy, Vishal Mega Mart: Expert shares key entry levels, targets** — Paytm shares, KRN Heat Exchanger shares, Ather Energy shares, Vishal Mega Mart shares, Paytm stock, KRN Heat Exchanger stock, Ather Energy stock, Vishal Mega Mart stock, stock market, share market, entry levels, target price, stop loss, technical analysis, Akshay Bhagwat, JM Financial Services — [Source](https://www.businesstoday.in/markets/stocks/story/paytm-krn-heat-exchanger-ather-energy-vishal-mega-mart-expert-shares-key-entry-levels-targets-555944-2026-09-16)
- 2026-09-16 — FREEPRESSJOURNAL.IN: **Paytm CEO Vijay Shekhar Sharma Backs UPI Charges On Large Payments, Calls Move A ‘Robin Hood’ Model** — Paytm founder Vijay Shekhar Sharma has supported the introduction of MDR on larger UPI merchant transactions, saying it will create a sustainable funding model while keeping small payments free. The NPCI has set a 0.4% MDR on merchant UPI payments above ₹2,000 from October 15, with most transactions unaffected — [Source](https://www.freepressjournal.in/business/paytm-ceo-vijay-shekhar-sharma-backs-upi-charges-on-large-payments-calls-move-a-robin-hood-model)
- 2026-09-16 — Times of India: **Paytm shares surge over 7% after 0.4% MDR on UPI payments above Rs 2,000** — India Business News: Shares of fintech companies, including Paytm, rallied in early trade on Wednesday after the government announced a 0.4% Merchant Discount Rate (MDR) o. — [Source](https://timesofindia.indiatimes.com/business/india-business/paytm-shares-surge-over-7-after-0-4-mdr-on-upi-payments-above-rs-2000/articleshow/134281970.cms)
- 2026-09-16 — REDIFF.COM: **New UPI Merchant Fee Sparks Volatility In Fintech Shares** — The Indian government has introduced a 0.4% fee on UPI transfers above Rs 2,000 made to merchants, effective October 15, ending nearly six years of free merchant payments. This move led to initial rallies in fintech stocks like Paytm and Mobikwik, though some later pared gains. Person-to-person transactions and small payments remain free for customers, with the fee being a Merchant Discount Rate (MDR). — [Source](https://www.rediff.com/business/report/paytm-shares-jump-as-upi-fee-introduced-for-merchants/20260916.htm)
- 2026-09-16 — Mint: **Paytm share price jumps 7% to 52-week high on UPI MDR move - should you buy? | Stock Market News** — Shares of One 97 Communications surged over 7% following the government’s introduction of a Merchant Discount Rate on high-value UPI transactions. Analysts anticipate significant revenue generation for Paytm, prompting brokerages to raise their price targets for the stock. — [Source](https://www.livemint.com/market/stock-market-news/paytm-share-price-jumps-7-to-52-week-high-on-upi-mdr-move-should-you-buy-11789546548269.html)
- 2026-09-16 — MONEYCONTROL: **Paytm, Pine Labs stocks get bullish brokerage calls after UPI MDR; targets imply up to 35% upside** — paytm share price today, paytm stock update, paytm share price target, paytm stock rating, pine labs share price today, pine labs stock update, pine labs share price target, pine labs stock outlook, one mobikwik share price today, mobikwik stock update, mobikwik share price target, mobikwik stock outlook, upi mdr, upi charges — [Source](https://www.moneycontrol.com/news/business/markets/paytm-pine-labs-stocks-get-bullish-brokerage-calls-after-upi-mdr-targets-imply-up-to-35-upside-14031034.html)
- 2026-09-16 — CNBC-TV18: **New UPI MDR opens ₹18,000 crore revenue pool; Paytm earnings may rise 50%: Motilal Oswal** — Nitin Aggarwal, Head of BFSI, Institutional Equities at Motilal Oswal Financial services explain the revenue split, why UPI growth may remain resilient, and what investors should watch in HDFC Bank's growth trajectory. — [Source](https://www.cnbctv18.com/market/upi-mdr-revenue-opportunity-paytm-pine-labs-hdfc-bank-motilal-oswal-alpha-article-19991608.htm)
- 2026-09-16 — MONEYCONTROL: **ATM-related stocks rise up to 5% amid introduction of UPI MDR: Here's why** — UPI, ATM, CMS Info, — [Source](https://www.moneycontrol.com/news/business/markets/atm-related-stocks-rise-up-to-5-amid-introduction-of-upi-mdr-here-s-why-14030995.html)
- 2026-09-16 — BUSINESSTODAY: **Paytm says new UPI MDR will generate additional revenue from merchant business** — Paytm says new UPI MDR will generate additional revenue from merchant business — [Source](https://www.businesstoday.in/latest/corporate/story/paytm-says-new-upi-mdr-will-generate-additional-revenue-from-merchant-business-555810-2026-09-16)
- 2026-09-16 — Economic Times: **UPI MDR bonanza: Why Paytm may win bigger, but Pine Labs could gain faster** — Paytm and Pine Labs stand to benefit from the new UPI MDR framework, but the impact could differ sharply. Paytm has a larger absolute revenue opportunity, with analysts estimating FY28 UPI MDR revenue of up to Rs 1,160 crore, while Pine Labs could see a bigger impact on earnings and profitability. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/upi-mdr-bonanza-why-paytm-may-win-bigger-but-pine-labs-could-gain-faster/articleshow/134279070.cms)
- 2026-09-16 — The Hindu: **Paytm stock hits 52-week high after NPCI introduces UPI MDR** — The stock opened sharply higher at ₹1,830 and has seen heavy trading volume of over 1.09 crore shares worth ₹1,956 crore so far in the session — [Source](https://www.thehindubusinessline.com/markets/stock-markets/paytm-stock-hits-52-week-high-after-npci-introduces-upi-mdr/article71471258.ece)
- 2026-09-16 — BUSINESSTODAY: **Paytm shares surge 7%, Pine Labs falls 8% | Impact of MDR on UPI transactions above Rs 2,000** — Paytm share price, Paytm share, Paytm news, Paytm share MDR news, Pine Labs share price — [Source](https://www.businesstoday.in/markets/stocks/story/paytm-shares-surge-7-pine-labs-falls-8-impact-of-mdr-on-upi-transactions-above-rs-2000-555802-2026-09-16)
- 2026-09-16 — Economic Times: **Paytm shares jump 7% as Jefferies, other brokerages raise target prices and earnings estimates after new UPI charges** — Paytm shares surged over 7% after brokerages raised target prices following the introduction of MDR on select UPI transactions above Rs 2,000. Jefferies, JM Financial and Emkay Global retained Buy ratings on the stock. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/paytm-shares-jump-7-as-jefferies-other-brokerages-raise-target-prices-and-earnings-estimates-after-new-upi-charges/articleshow/134278132.cms)
- 2026-09-16 — CNBC-TV18: **Paytm, Pine Labs, MobiKwik shares witness profit booking after the new MDR framework** — JPMorgan has estimated a maximum revenue pool of ₹17,000 crore. This includes, ₹11,700 crore for the issuer and acquiring banks, ₹3,400 crore for TPAPs and ₹1,700 crore for Payer payment service providers (PSPSs). — [Source](https://www.cnbctv18.com/market/paytm-pine-labs-mobikwik-share-price-mdr-norms-benefits-implications-revenue-pool-profit-booking-19991512.htm)
- 2026-09-16 — Economic Times: **Paytm, MobiKwik, Pine Labs shares rally up to 6% after govt announces UPI fees above Rs 2,000. Why brokerages are bullish** — Paytm, MobiKwik and Pine Labs are likely to remain in focus after the government announced MDR on select UPI transactions above Rs 2,000. From October 15, merchants will pay a 0.4% fee on eligible P2M UPI transactions, capped at Rs 300 for payments of Rs 75,000 or more. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/paytm-mobikwik-pine-labs-shares-rally-up-to-6-after-govt-announces-upi-fees-above-rs-2000-why-brokerages-are-bullish/articleshow/134277476.cms)
- 2026-09-16 — BUSINESS: **Paytm, Mobikwik rally up to 7% as NCPI levies charge on UPI transactions** — Paytm shares rallied 7 per cent to a fresh 52-week high of ₹1,856.50 on the BSE. Mobikwik stock rose by 6 per cent to ₹214. However, Pine Labs slumped 6 per cent to ₹182 per share. — [Source](https://www.business-standard.com/markets/news/paytm-mobikwik-rally-up-to-7-as-ncpi-levies-charge-on-upi-transactions-126091600158_1.html)
- 2026-09-16 — MONEYCONTROL: **Paytm, One Mobikwik shares jump up to 5% after UPI MDR announcement; brokerages see revenue boost** — Paytm, One Mobikwik, Paytm shares, Paytm stocks, One Mobikwik, One Mobikwik stocks, One Mobikwik shares, UPI, UPI MDR, NPCI — [Source](https://www.moneycontrol.com/news/business/stocks/paytm-one-mobikwik-shares-jump-up-to-5-after-upi-mdr-announcement-brokerages-see-revenue-boost-14030798.html)
- 2026-09-16 — BUSINESSTODAY: **Paytm, Pine Labs share price targets as MDR charges on UPI above Rs 2,000 introduced** — Paytm share price today, Pine Labs share price today — [Source](https://www.businesstoday.in/markets/stocks/story/paytm-pine-labs-share-price-targets-as-mdr-charges-on-upi-above-rs-2000-introduced-555760-2026-09-16)

## Business profile

**Strategic vision:** Facilitates digital payments and financial services for consumers and businesses.

### Business segments
- **Consumer Services:** Provides a suite of digital payment and financial services including UPI, mobile payments, recharges, bill payments, travel and entertainment bookings, and financial products.
- **Business Services:** Offers solutions for merchants and businesses to accept payments online and offline, including QR codes, Soundbox devices, and POS systems.

### Competitive strengths
- Extensive network of merchants and consumers utilizing its payment solutions.
- Integrated ecosystem of financial and transactional services.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/paytm
Markdown representation: https://faxioms.com/stocks/paytm?render=md