Shares of One 97 Communications, Paytm's parent company were in focus on Friday ahead of its quarterly earnings later in the day. The company, whose shares are down 56 per cent against the IPO issue price, is due to hold its quarterly earnings call on February 5.

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Paytm shares were trading at Rs 955.65, up 11 points, or 1.16 percent higher on the BSE.

All eyes are on Paytm's reported gross merchant value (GMV) growth, disbursals into revenues, and clarification on prospective MDR rules, which has been a major overhang for the company.

Global brokerage firm Goldman Sachs expects the fintech major to report 70 percent topline growth year-on-year for December 31, 2021, ended quarter, while operational losses are likely to expand on higher ESOP expenses, according to a Moneycontrol report.

Goldman Sachs has also lowered Paytm's target price to Rs 1,600 from Rs 1,630 earlier, even as it remained neutral on the stock. A share of One97 Communications was quoted at Rs 967 on BSE at the time of rising.

In the previous quarter, Paytm saw its losses increase to Rs 473 crore, up 24 percent sequentially and 8.5 percent annually, as expenses increased. Its revenue from operations for the second quarter of the fiscal jumped 63.6 percent to Rs 1,086.4 crore on a year-on-year (Y-o-Y) basis.

Meanwhile, Finance Minister Nirmala Sitharaman called to promote fintech and technology-based development of the economy in her Budget 2022 presentation.

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