Mumbai/IBNS, Aug. 11 -- Shares of One97 Communications Ltd., the parent company of Paytm, extended their gains on Tuesday, rising 3.52% on the NSE, media reports said.

The stock climbed as high as Rs.1,639.90 on the NSE during the session.

The rally came after brokerage Bernstein retained its bullish view on Paytm and raised its target price significantly.

The revised target is particularly significant as it is now above Paytm's Rs.2,150 IPO price, marking a notable shift in investor sentiment toward the company.

Paytm has moved from a period marked by regulatory challenges and losses towards sustained profitability and revenue growth, strengthening the investment case for the company.

The improvement in its financial performance, ea...