Brokerages remain positive on Paytm stock despite weak numbers, stock falling because of this reason

Major brokerages remain positive on Paytm as the fintech managed to narrow its third quarter net loss, with the company continuing to witness an improvement in business metrics. Founder and CEO Vijay Sekhar Sharma on Tuesday said the company is poised to achieve profitability in the next quarter.

Shares of One97 Communications, the parent, on Tuesday declined around 7% in intra-day trade because of profit booking, before closing down 5% to Rs 853.20 on the BSE.