India's Paytm surges on buyback plan but analysts flag profitability concerns

India's Paytm surges on buyback plan but analysts flag profitability concerns

FILE PHOTO: Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration

Paytm‘s stock surged over 7% on Friday after it announced plans to consider a share buyback, but analysts warned it would not bring long-term relief to investors as concerns around the Indian firm’s slow path to profitability remained.