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Analysts slash Paytm share price targets

Continuing losses, gloomy outlook hit valuation of India's largest IPO

Widening losses at Paytm, an Indian fintech backed by SoftBank Group and other big names, come amid the global sell-off in technology stocks.

BENGALURU -- Paytm, a financial services company backed by SoftBank Group and Alibaba, is struggling to turn profitable after last year completing the largest IPO in India's history.

Analysts believe it is at least three years from climbing into the black as the company contends with stiff competition and tough regulation in India's packed financial technology sector.

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