{"id":68350,"date":"2026-04-09T12:30:03","date_gmt":"2026-04-09T07:00:03","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=68350"},"modified":"2026-04-09T12:30:04","modified_gmt":"2026-04-09T07:00:04","slug":"why-is-paytm-share-price-falling","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/","title":{"rendered":"Why Is Paytm (One97 Communications) Share Price Falling? Key Reasons &#038; Share Price Target"},"content":{"rendered":"<p>Paytm (One97 Communications) is trading at Rs 590, down -40% from its 52-week high of Rs 990. The sustained decline in the Paytm (One97 Communications) share price reflects a combination of company-specific headwinds, sector pressures, and the broader macro overhang from the US 26% reciprocal tariff. This article explains every key reason behind the Paytm (One97 Communications) share price falling and provides a structured share price target for 2026.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#About_Paytm_One97_Communications\" title=\"About Paytm (One97 Communications)\">About Paytm (One97 Communications)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Why_Is_Paytm_One97_Communications_Share_Price_Falling_Key_Reasons\" title=\"Why Is Paytm (One97 Communications) Share Price Falling? Key Reasons\">Why Is Paytm (One97 Communications) Share Price Falling? Key Reasons<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#1_RBI_Action_on_Paytm_Payments_Bank_%E2%80%94_Lasting_Damage\" title=\"1. RBI Action on Paytm Payments Bank \u2014 Lasting Damage\">1. RBI Action on Paytm Payments Bank \u2014 Lasting Damage<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#2_Loan_Disbursements_Have_Not_Recovered\" title=\"2. Loan Disbursements Have Not Recovered\">2. Loan Disbursements Have Not Recovered<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#3_PhonePe_and_Google_Pay_Gaining_Merchant_Terminals\" title=\"3. PhonePe and Google Pay Gaining Merchant Terminals\">3. PhonePe and Google Pay Gaining Merchant Terminals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#4_Revenue_Decline_Despite_Large_GMV_Base\" title=\"4. Revenue Decline Despite Large GMV Base\">4. Revenue Decline Despite Large GMV Base<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#5_Path_to_Sustained_Profitability_Remains_Unclear\" title=\"5. Path to Sustained Profitability Remains Unclear\">5. Path to Sustained Profitability Remains Unclear<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Paytm_One97_Communications_Latest_News_That_Impacted_the_Stock\" title=\"Paytm (One97 Communications) Latest News That Impacted the Stock\">Paytm (One97 Communications) Latest News That Impacted the Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Financial_Performance_Analysis\" title=\"Financial Performance Analysis\">Financial Performance Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Technical_Signals_What_the_Charts_Are_Saying\" title=\"Technical Signals: What the Charts Are Saying\">Technical Signals: What the Charts Are Saying<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Market_Sentiment_Institutional_Positioning\" title=\"Market Sentiment &amp; Institutional Positioning\">Market Sentiment &amp; Institutional Positioning<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Future_Outlook_Can_Paytm_One97_Communications_Recover\" title=\"Future Outlook: Can Paytm (One97 Communications) Recover?\">Future Outlook: Can Paytm (One97 Communications) Recover?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Paytm_One97_Communications_Share_Price_Target\" title=\"Paytm (One97 Communications) Share Price Target\">Paytm (One97 Communications) Share Price Target<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Short-Term_Target_3%E2%80%936_Months\" title=\"Short-Term Target (3\u20136 Months)\">Short-Term Target (3\u20136 Months)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#12-Month_Analyst_Target\" title=\"12-Month Analyst Target\">12-Month Analyst Target<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Long-Term_Target_2027%E2%80%932028\" title=\"Long-Term Target (2027\u20132028)\">Long-Term Target (2027\u20132028)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Q1_Why_is_Paytm_share_price_falling\" title=\"Q1. Why is Paytm share price falling?\">Q1. Why is Paytm share price falling?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Q2_What_is_the_Paytm_share_price_target_for_2026\" title=\"Q2. What is the Paytm share price target for 2026?\">Q2. What is the Paytm share price target for 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Q3_What_was_the_RBI_action_on_Paytm\" title=\"Q3. What was the RBI action on Paytm?\">Q3. What was the RBI action on Paytm?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Q4_Is_Paytm_profitable\" title=\"Q4. Is Paytm profitable?\">Q4. Is Paytm profitable?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Q5_What_is_Paytms_revenue_split\" title=\"Q5. What is Paytm&#8217;s revenue split?\">Q5. What is Paytm&#8217;s revenue split?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Q6_Who_are_Paytms_main_competitors\" title=\"Q6. Who are Paytm&#8217;s main competitors?\">Q6. Who are Paytm&#8217;s main competitors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Q7_What_is_Paytms_current_market_cap\" title=\"Q7. What is Paytm&#8217;s current market cap?\">Q7. What is Paytm&#8217;s current market cap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Q8_When_will_Paytm_be_profitable\" title=\"Q8. When will Paytm be profitable?\">Q8. When will Paytm be profitable?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/univest.in\/blogs-2\/why-is-paytm-share-price-falling\/#Recent_Article\" title=\"Recent Article\">Recent Article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"About_Paytm_One97_Communications\"><\/span><strong>About Paytm (One97 Communications)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/user\/log-in\">Click Here \u2013 Get Free Investment Predictions<\/a><\/p><p>Paytm (One97 Communications) (NSE: PAYTM) is a leading listed company in the Fintech sector with a market capitalisation of Rs 37,800 Cr. At approximately N\/A P\/E and 3.2x price-to-book, the stock&#8217;s 52-week range spans from Rs 540 to Rs 990. The current CMP of Rs 590 sits in the lower quarter of that range.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Is_Paytm_One97_Communications_Share_Price_Falling_Key_Reasons\"><\/span><strong>Why Is Paytm (One97 Communications) Share Price Falling? Key Reasons<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/user\/log-in\">Tap to Access Best Research Pieces on Univest<\/a><\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_RBI_Action_on_Paytm_Payments_Bank_%E2%80%94_Lasting_Damage\"><\/span><strong>1. RBI Action on Paytm Payments Bank \u2014 Lasting Damage<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The RBI&#8217;s January 2024 action against Paytm Payments Bank \u2014 directing it to stop accepting new deposits and credits \u2014 fundamentally altered Paytm&#8217;s business model. The company lost its banking licence-equivalent infrastructure that powered wallet top-ups, fastag, and UPI payments settlement. Paytm has since rebuilt on third-party bank partnerships, but the direct UPI market share loss to PhonePe and Google Pay has been significant and structural.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Loan_Disbursements_Have_Not_Recovered\"><\/span><strong>2. Loan Disbursements Have Not Recovered<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Paytm&#8217;s financial services business \u2014 primarily personal loans and merchant loans distributed via partnerships with banks and NBFCs \u2014 collapsed after the RBI action. Disbursements fell from Rs 14,000+ crore per quarter in FY24 to approximately Rs 3,800 crore in Q3 FY26. The recovery is real but slow, and the market had expected a faster return to pre-RBI action levels.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_PhonePe_and_Google_Pay_Gaining_Merchant_Terminals\"><\/span><strong>3. PhonePe and Google Pay Gaining Merchant Terminals<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Paytm&#8217;s core strength \u2014 a 10 million+ merchant network with sound boxes and payment terminals \u2014 is under assault from PhonePe&#8217;s aggressive merchant acquisition campaign. PhonePe has been deploying subsidised terminals and zero-MDR deals to win Paytm merchants, particularly in tier-2 and tier-3 cities where Paytm had strong historical dominance.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Revenue_Decline_Despite_Large_GMV_Base\"><\/span><strong>4. Revenue Decline Despite Large GMV Base<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Paytm reported Q3 FY26 revenue of Rs 1,828 crore \u2014 down 36% YoY from the pre-RBI action levels. The revenue decline is larger than the GMV decline because the mix has shifted from higher-revenue financial services to lower-revenue payment processing. Recovering the revenue trajectory requires rebuilding the lending partnerships and growing financial services revenue at 20-25% for several quarters.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Path_to_Sustained_Profitability_Remains_Unclear\"><\/span><strong>5. Path to Sustained Profitability Remains Unclear<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Despite multiple &#8216;profitability guidance&#8217; iterations \u2014 the company has been promising EBITDA before ESOP profitability since mid-2023 \u2014 sustained net profitability remains elusive. The PAT loss of Rs 208 crore in Q3 FY26 is narrowing, but at the current trajectory, GAAP profitability is still a FY28-FY29 story for most analysts.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Paytm_One97_Communications_Latest_News_That_Impacted_the_Stock\"><\/span><strong>Paytm (One97 Communications) Latest News That Impacted the Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><strong>RBI action (January 2024, ongoing impact): <\/strong>Paytm Payments Bank directed to stop accepting new deposits. Paytm&#8217;s GMV and revenue collapse 35-40% over the following quarters.<\/p><p><strong>Q3 FY26 results (January 2026): <\/strong>Revenue Rs 1,828 crore (-36% YoY), EBITDA before ESOP Rs 186 crore. Management claims trajectory improving.<\/p><p><strong>March 2026: <\/strong>PhonePe reports 3 million+ merchant terminal installations in Q4 FY25 \u2014 direct Paytm competition.<\/p><p><strong>April 2026: <\/strong>FII selling in Indian fintech. Paytm re-tests 52-week lows at Rs 540.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_Performance_Analysis\"><\/span><strong>Financial Performance Analysis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The quarterly numbers below highlight the key metrics versus the year-ago quarter for Paytm (One97 Communications).<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Key Metric<\/strong><\/td><td><strong>Latest Quarter<\/strong><\/td><td><strong>Year-Ago Quarter<\/strong><\/td><td><strong>YoY Change<\/strong><\/td><\/tr><tr><td>Revenue<\/td><td>Rs 1,828 Cr<\/td><td>Rs 2,850 Cr<\/td><td>-35.9%<\/td><\/tr><tr><td>EBITDA (ex-ESOP)<\/td><td>Rs 186 Cr<\/td><td>Rs 558 Cr<\/td><td>-66.7%<\/td><\/tr><tr><td>Loan Disbursements<\/td><td>Rs 3,800 Cr<\/td><td>Rs 14,000 Cr<\/td><td>-72.9%<\/td><\/tr><tr><td>Monthly Transacting Users<\/td><td>9.5 Cr<\/td><td>10.0 Cr<\/td><td>-5.0%<\/td><\/tr><\/tbody><\/table><\/figure><p>Track Paytm (One97 Communications) live financials on <a href=\"https:\/\/univest.in\/screeners\">Univest Screener<\/a><\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Technical_Signals_What_the_Charts_Are_Saying\"><\/span><strong>Technical Signals: What the Charts Are Saying<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Paytm is trading at Rs 590, near its 52-week low of Rs 540. The stock has recovered significantly from its all-time low of Rs 310 (November 2022) but remains 76% below its IPO price of Rs 2,150. Support at Rs 540. Resistance at Rs 700.<\/p><p>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Paytm (One97 Communications) live.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_Sentiment_Institutional_Positioning\"><\/span><strong>Market Sentiment &amp; Institutional Positioning<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Promoter (Vijay Shekhar Sharma) holds 19.4% \u2014 relatively low. FII at 28.6%. Retail at 33.8% \u2014 retail-heavy ownership creates risk of sharp selling. Softbank and Ant Financial have reduced stakes over the past two years.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Future_Outlook_Can_Paytm_One97_Communications_Recover\"><\/span><strong>Future Outlook: Can Paytm (One97 Communications) Recover?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Paytm&#8217;s recovery depends on rebuilding financial services revenue to Rs 800-1,000 crore per quarter, merchant terminal additions defending vs. PhonePe, and EBITDA before ESOP turning into genuine net profit. The contrarian view: Paytm&#8217;s Payments brand and merchant network are genuinely valuable assets that would be expensive to replicate \u2014 at Rs 590 and 3.2x P\/B, long-term investors may be overcompensating for the RBI action risk.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Paytm_One97_Communications_Share_Price_Target\"><\/span><strong>Paytm (One97 Communications) Share Price Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/user\/log-in\">Subscribe to Univest Pro for Premium Stock Research and F&amp;O Setups<\/a><\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Short-Term_Target_3%E2%80%936_Months\"><\/span><strong>Short-Term Target (3\u20136 Months)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Short-term support and range: Rs 540-620. The stock may stay in this band while headwinds persist.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"12-Month_Analyst_Target\"><\/span><strong>12-Month Analyst Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The 12-month analyst consensus for Paytm (One97 Communications) is Rs 700-850, implying meaningful recovery potential from Rs 590.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Long-Term_Target_2027%E2%80%932028\"><\/span><strong>Long-Term Target (2027\u20132028)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>In a recovery scenario, the FY28 long-term target is Rs 1,000-1,200. Track live on <a href=\"https:\/\/univest.in\/screeners\">Univest Screener<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Paytm (One97 Communications) share price falling -40% from Rs 990 reflects sector headwinds and company-specific pressures. The 12-month analyst consensus of Rs 700-850 implies recovery potential. Short-term support is Rs 540-620. For more analysis, visit<\/p><p><a href=\"https:\/\/univest.in\/blogs\">Univest Blogs<\/a><\/p><p><strong>Disclaimer: <\/strong>This article is for informational purposes only. Please conduct your own research and consult a SEBI-registered financial advisor before making any investment decisions.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q1_Why_is_Paytm_share_price_falling\"><\/span><strong>Q1. Why is Paytm share price falling?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Paytm&#8217;s share price is falling due to the lasting structural impact of the RBI action on Paytm Payments Bank, loan disbursements recovering slowly to Rs 3,800 crore vs. Rs 14,000 crore pre-action, PhonePe aggressively taking merchant terminals, revenue down 36% YoY, and PAT losses continuing with no clear GAAP profitability timeline.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q2_What_is_the_Paytm_share_price_target_for_2026\"><\/span><strong>Q2. What is the Paytm share price target for 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The 12-month analyst consensus is Rs 700-850. YES Securities targets Rs 780, JM Financial targets Rs 800, and Emkay targets Rs 720. Short-term support is Rs 540-560.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q3_What_was_the_RBI_action_on_Paytm\"><\/span><strong>Q3. What was the RBI action on Paytm?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>In January 2024, the RBI directed Paytm Payments Bank to stop accepting new deposits and credits, effectively shutting down its banking licence-equivalent operations. This forced Paytm to migrate to third-party bank partnerships for UPI settlement, resulting in significant business disruption.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q4_Is_Paytm_profitable\"><\/span><strong>Q4. Is Paytm profitable?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Paytm reported a PAT of Rs -208 crore in Q3 FY26. EBITDA before ESOP was positive at Rs 186 crore. The company has not achieved GAAP profitability and full profitability is a FY28-29 story in most analyst models.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q5_What_is_Paytms_revenue_split\"><\/span><strong>Q5. What is Paytm&#8217;s revenue split?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Paytm&#8217;s revenue comes from payment services (approximately 55%), financial services (approximately 25%), and commerce and cloud services (approximately 20%). The financial services contribution has declined sharply from the pre-RBI action levels.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q6_Who_are_Paytms_main_competitors\"><\/span><strong>Q6. Who are Paytm&#8217;s main competitors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Paytm&#8217;s primary competitors are PhonePe (market leader in UPI by transaction volume), Google Pay, and Amazon Pay for consumer UPI. In merchant payments, BharatPe and Juspay also compete. In lending, they compete with fintech lenders and bank direct channels.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q7_What_is_Paytms_current_market_cap\"><\/span><strong>Q7. What is Paytm&#8217;s current market cap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Paytm is trading at approximately Rs 590 per share with a market cap of Rs 37,800 crore \u2014 down significantly from its IPO market cap of approximately Rs 1.38 lakh crore in November 2021.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q8_When_will_Paytm_be_profitable\"><\/span><strong>Q8. When will Paytm be profitable?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Most analysts project Paytm to achieve GAAP PAT profitability in FY28-FY29, contingent on loan disbursements recovering to Rs 8,000-10,000 crore per quarter and merchant payments GMV growing at 15-20%.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Article\"><\/span><strong>Recent Article<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/indian-oil-corporation-q4-results-2026\">Indian Oil Corporation Q4 Results 2026: Date, Revenue, PAT &amp; Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/gujarat-gas-q4-results-2026\">Gujarat Gas Q4 Results 2026: Date, Revenue, PAT &amp; Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/indus-towers-q4-results-2026\">Indus Towers Q4 Results 2026: Date, Revenue, PAT &amp; Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/adani-total-gas-q4-results-2026\">Adani Total Gas Q4 Results 2026: Date, Revenue, PAT &amp; Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/adani-enterprises-q4-results-2026\">Adani Enterprises Q4 Results 2026: Date, Revenue, PAT &amp; Analyst Outlook<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Paytm (One97 Communications) is trading at Rs 590, down -40% from its 52-week high of Rs 990. The sustained decline in the Paytm (One97 Communications) share price reflects a combination of company-specific headwinds, sector pressures, and the broader macro overhang from the US 26% reciprocal tariff. This article explains every key reason behind the Paytm<\/p>\n","protected":false},"author":29,"featured_media":68358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[3818],"class_list":["post-68350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-share-price-falling"],"metadata":{"_edit_lock":["1775718072:29"],"_last_editor_used_jetpack":["block-editor"],"rank_math_internal_links_processed":["1"],"rank_math_primary_category":["842"],"rank_math_seo_score":["73"],"rank_math_robots":["a:2:{i:0;s:8:\"nofollow\";i:1;s:7:\"noindex\";}"],"rank_math_title":["Why Is Paytm Share Price Falling? 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