New Delhi, Sept. 7 -- Haitong International expects Paytm to be able to fund its future expansion through internal accruals, supported by a strong treasury portfolio, improving operating metrics and expanding profitability, potentially limiting the requirement for an external fund raise.

In its latest report on One97 Communications, Haitong said Paytm has faced multiple regulatory hurdles in the past but has *"emerged quite strong" by taking timely corrective actions, while also pointing to management's approach in navigating these concerns. The brokerage maintained its **Outperform* rating with a target price of *Rs.1,980*.

Haitong said Paytm's strong treasury portfolio and healthy operating metrics, supported by improving EBITDA margi...