New Delhi, Aug. 10 -- One97 Communications, the parent company of Paytm, saw its shares jump 10% in Monday's trade, 10 August, to a 54-month high of Rs.1,598 apiece after global brokerage firm Bernstein raised its target price to a Street-high, citing the potential for the company to benefit from higher UPI fees.

The brokerage now sees the stock rising to Rs.2,200 apiece, a level not seen since its listing and above its IPO price of Rs.2,150 apiece. The revised target adds to the optimism around the stock, which has been on a strong winning streak since March, hitting multi-month highs.

Bernstein raised its target price by Rs.700 from the previous projection of Rs.1,500 while retaining its 'Outperform' rating. The new target implies an ...