India, Aug. 10 -- Shares of fintech major Paytm rallied as much as 10.67% during intraday trade on BSE today to hit a fresh 52-week high of Rs.1,594.80.

The stock eased slightly from the intraday high to trade 10.23% higher at Rs.1,588.40 as of 15:16 IST. Its market capitalisation stood at Rs.1.02 Lakh Cr ($10.6 Bn) at the time.

Today's rally comes after brokerage firm Bernstein upgraded the stock to 'Outperform' and raised its price target to Rs.2,200 from erstwhile Rs.1,500. With the new price target, the brokerage foresees a 53% upside to the stock's last closing price of Rs.1,441.

The brokerage factored potential UPI MDR monetisation into its base-case estimates from FY28.

Bernstein expects the introduction of UPI Merchant Discoun...