Investec has reiterated its positive stance on One 97 Communications, the parent of Paytm, highlighting the company’s expanding “digital toll road” across payments and merchant services as a key long-term growth driver.

The brokerage sees scope for further upside as Paytm scales monetisation across its vast network of devices and transactions, even as near-term concerns linger around regulatory incentives.

The stock closed flat at ₹1144.35 on the BSE on Tuesday.

According to the brokerage, Paytm is well placed to benefit from rising credit-linked payments, strong operating leverage and oligopolistic market structures, and it forecasts a 23 per cent revenue CAGR with EBITDA margins expanding to 24 per cent by FY28, prompting a buy rating on the stock at ₹1,550 target price (a 35 per cent upside potential from current levels).

However, it flagged regulatory uncertainty, rising competition and potential asset-quality stress in merchant and consumer loans as key risks.

Another brokerage JM Financial said Paytm’s stock recently corrected sharply after market worries emerged over the status of the Payment Infrastructure Development Fund (PIDF) incentive, following references in a draft prospectus filed by a private player.

“Considering the sharp 9.5 per cent single-day correction, we find the reaction premature, having already factored-in a permanent termination,” it said. The scheme, which was due for renewal in December 2025, has not yet been formally extended, though JM Financial noted that there has been no official communication from the RBI.

Meanwhile, Jefferies earlier pointed out that Paytm’s profits will take a hit if the PIDF incentive scheme is not renewed. It slashed adjusted EBITDA estimates by 14 per cent for FY27 and 8 per cent for FY28, and reduced its price target to ₹1,450 from ₹1,600, maintaining buy call.

JM Financial believes Paytm could deploy offsetting measures such as higher monetisation and tighter sales execution, reducing the potential earnings impact to about 11 per cent in FY27 and 5 per cent in FY28.

It now expects Paytm to post EBITDA of ₹25.9 billion in FY28, slightly lower than its earlier estimate, but still strong enough to support rapid profit expansion. The brokerage reiterated its buy call with a March 2027 target price of ₹1,740.

On Friday, One 97 Communications said the company had recognised incentives under the RBI’s scheme for qualifying expenditure on deploying payment acceptance devices such as soundboxes and EDC machines, particularly in Tier-3 to Tier-6 centres, the north-eastern states and the Union Territories of Jammu, Kashmir and Ladakh.

The incentive, valid until December 31, 2025, amounted to ₹128 crore for the six months ended September 30, 2025.

Paytm added that, as of now, there has been no announcement from the RBI or other authorities regarding an extension or replacement of the scheme. In the event that it is not renewed, the company said it expects to significantly offset the impact over time through a mix of higher revenues and more targeted sales efforts.

Published on January 27, 2026

IITM Pravartak Technologies Foundation is partnering with the Union Education Ministry’s SWAYAM Plus to launch Artificial Intelligence Training for Rural School Teachers across India.  

The free courses called ‘AI for Educators – K12 Teachers’ will equip educators with essential skills to integrate AI into classroom teaching and learning. 

This 40-hour program will be taught in English language and will help teachers confidently adopt AI tools to enhance learning outcomes while ensuring responsible use of technology in schools and colleges. 

“AI is rapidly reshaping the future of education. Through this program, we aim to empower teachers with practical AI tools and pedagogical strategies that enhance classroom effectiveness and student engagement. This course will help educators become future-ready and confident in adopting AI responsibly,” said Balamurali Shankar, Chief Knowledge Officer, IIT Madras Pravartak Technologies Foundation 

Furthermore, the program will empower schoolteachers to employ AI-enabled assessment and integrate AI into subject-specific teaching contexts. 

It will include an introductory session and eight modules covering topics such as generative AI tools, prompt engineering, gamification, storytelling, AI-based lesson planning, student engagement tools like AR/VR and visualization among other use cases.  

Published on January 27, 2026

Bharti AXA Life Insurance on Tuesday said it has launched a non-linked, non-participating individual deferred annuity “Swabhimaan Retirement” plan, which will enable customers to plan early and lock in annuity rates at current levels, ensuring guaranteed income for life.

The life insurer, in a statement, said the plan offers lifetime annuity (monthly, quarterly, half-yearly, or annual pension) payouts, with an option to continue the same assured income for the lifetime of the surviving spouse, ensuring income security for as long as either the policyholder or the spouse is alive.

Further, the Atmanirbhar option allows customers to withdraw in case of emergency.

“An important feature of the plan is increased pay-out after every 5 years to help customers beat inflation and structure retirement income in line with their financial goals, cash flow requirements, and life milestones,” per the statement.

The new plan offers Premium Payment Term (PPT) options of 2, 3 and 5 years under select annuity options, along with deferment options of up to 7 years. It also has an option to withdraw a part of the surrender value, subject to policy terms, once all premiums are paid.

Prerak Parmar, Chief Growth Officer, Bharti AXA Life Insurance, said, “By offering shorter premium payment terms under select options, along with guaranteed payouts and joint-life continuity, the plan enables customers to plan their second innings with confidence, independence, and financial dignity.”\

Published on January 27, 2026

COMEX gold scaled a fresh all-time high of $5,111 per ounce on Tuesday before settling near $5,067, driven by sustained safe-haven demand and central bank buying. Silver jumped to $117.75, marking its own record peak, as geopolitical tensions and US-South Korea tariff threats intensified.

On the Multi Commodity Exchange (MCX), gold rose over 1 per cent to approach ₹1.60 lakh per 10 grams, while silver surged approximately 6 per cent to trade above ₹3.5 lakh per kilogram. Both metals are trading well above their key moving averages, confirming the strength of the current bull run.

“Precious metals are firmly back in the spotlight,” said Aamir Makda, Commodity & Currency Analyst at Choice Broking. He attributed the rally to aggressive accumulation by central banks in China and Poland, along with safe-haven flows triggered by escalating US tariff threats against South Korea, which jumped from 15 per cent to 25 per cent.

ASK Private Wealth recently upgraded gold to overweight from neutral in its Quarterly Investment Policy Committee report titled “Playing with uncertainty?”, citing policy uncertainties and strong buying from central banks and consumers in China and India.

Market analysts flag technical concerns despite the bullish momentum. The Relative Strength Index (RSI) has entered overbought territory across multiple timeframes, with a daily RSI divergence appearing—typically a warning sign for long positions. However, structural support remains robust, with gold’s $5,000 level now acting as strong support and silver’s industrial demand from solar, electric vehicles and AI sectors providing fundamental backing.

Ponmudi R, CEO of Enrich Money, noted that USD/INR stability in the 91.50-91.93 zone has aided domestic gold strength. Justin Khoo, Senior Market Analyst at VT Markets, said the weak US dollar and ongoing risk aversion continue to support precious metals as portfolio hedges amid macro uncertainties.

Published on January 27, 2026