Paytm
FPIs Societe Generale, UBS and Tiger Pacific reduce stakes in Paytm below 1%
Foreign Portfolio Investors (FPIs) Societe Generale, Tiger Pacific Master Fund and UBS Principal Capital Asia brought their holdings in One 97 Communications below 1% in the September-ended quarter. Shares of Paytm dropped to a low of Rs 700 on the BSE, falling by 3% intraday amid weakness in the overall markets. The stock has witnessed a strong rally in the past 6 months, gaining by over 80%.
5 out of 6 mega IPOs have destroyed wealth. What’s in store for Hyundai IPO investors?
Hyundai Motor IPO: Five out of six mega IPOs have resulted in wealth destruction, with examples like LIC and Paytm listing at losses. Despite positive broker ratings for Hyundai's record-breaking IPO, history shows large IPOs often correlate with market peaks and subsequent investor losses.
Large IPOs typically signal market peaks but this time might be different
The Indian stock market has evolved, especially with IPOs, which raise capital without adding debt. Regulatory changes like ASBA have streamlined IPO processes, enhancing liquidity and investor confidence. However, large IPOs can still impact market dynamics by shifting supply and demand post-listing.
Paytm shares jump over 5% on likely block deal worth Rs 328 crore
The stock saw substantial investor interest with 1.55 crore shares traded on the NSE around 2 pm, totaling Rs 1,091.48 crore in value. After rebounding from a low of Rs 310 in May, the stock remains 27% below its 52-week high of Rs 998 but has surged 36% in the past month.
Ahead of Market: 10 things that will decide stock action on Tuesday
Indian indices closed higher on Monday, led by banking and IT stocks. Nifty gained 164 points, closing at 25,128. Sensex gained 591 points, closing at 81,973. Retail inflation accelerated to a 9-month high of 5.49% in September. Analysts expect Nifty to continue its upward momentum.
Big movers on D-Street: What should investors do with Paytm, PB Fintech and EaseMyTrip?
The benchmark Sensex surged 666 points to a new record high on Thursday, driven by buying in auto and banking stocks, buoyed by gains in global markets. Notable performers included Paytm, PB Fintech, and EaseMyTrip.
Ahead of Market: 10 things that will decide stock action on Friday
Indian indices closed slightly higher on Thursday, with financial stocks gaining and IT shares declining. However, higher-than-expected US inflation data may negatively impact Friday's trade. Analysts predict a sideways trend with support at 24,950-24,900 and resistance at 25,150-25,400.
Ratan Tata, former Tata Group chairman, dies at age 86
Ratan Tata, the visionary former chairman of Tata Group, died at 86. He transformed the conglomerate during his 20-year tenure with global acquisitions including Tetley, Corus, Jaguar, and Land Rover. Despite some controversies, his leadership brought significant growth and he became a notable investor in Indian startups.
Ahead of Market: 10 things that will decide stock action on Thursday
Indian indices closed lower on Wednesday despite earlier gains, following the central bank's policy easing. Nifty 50 closed at 24,982, Sensex at 81,467. Analysts suggest a short-term pullback before further upside.
Emkay upgrades Paytm to add, raises target price to Rs 750
Paytm has largely protected its merchant base (settled at 41 mn) and transitioned its user base (78mn, down in 1QFY25 from 100mn) to new partner banks which should now pave the way for the long-pending NPCI approval to onboard new users.
Paytm shares double in 4 months despite regulatory trouble. What is the road ahead?
Paytm Share Price: The company was in headlines on selling its ticketing business to Zomato and also on the reports of SEBI issuing show-cause notices to Vijay Shekhar Sharma, the founder of the company.
NSE share price jumps up to 45% in 3-4 months on IPO buzz. Will the uptrend continue?
NSE's IPO buzz has grown in the last 3-4 months, leading to a 35% rise in its share price in the unlisted market. Investors are waiting for the listing due to the stock's promise and higher premium compared to the current market price.
Stocks in news: Jio Financial, Titan, Adani Wilmar, IDFC Bank, Zomato
The Department of Telecommunications (DoT) has issued a notice to Vodafone Idea concerning non-payment of bank guarantees needed to cover for past spectrum auction dues.
Hot stocks: Brokerages on ONGC, Paytm, IIFL Finance and Ipca Labs
Emkay has upgraded Paytm to "Add" from "Reduce," raising the target price to Rs 750 from Rs 375. Easing regulatory pressures and optimizing expenses are expected to restore profitability. The loan distribution business is set to re-accelerate, while the broking and insurance segments are profitable. Emkay forecasts positive operating EBITDA for Paytm by Q4 FY25.
Block deals worth over Rs 14,602 crore this week. RIL, Trent, Paytm, SBI among stocks with major action
In the large cap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 5,448 crore led by Reliance Industries (RIL) with four block counts totalling to Rs 1,202 crore. The next in line were Tata Group’s Trent (939 crore), Jindal Steel (Rs 483 crore), State Bank of India (SBI, 396 crore), Bharti Airtel (Rs 321 crore), SRF (Rs 290 crore) and Infosys (Rs 230 crore).
Paytm shares soar over 12% amid high volumes
Paytm Share Price: Shares of fintech firm Paytm surged over 12% to Rs 623.8 during Friday's intraday trading, driven by heavy volumes on the NSE, with 2.96 crore equity shares worth Rs 1,763.6 crore traded. At 2:47 p.m., the stock was up 11.4% at Rs 618. The shares have climbed 16% in the past two days following the company’s approval from the finance ministry to invest in its payment services business.
Domestic mutual funds beef up exposure to new-age startups, hold $8 billion in 12 stocks
On the back of a new-age IPO wave and the broader rise in stock markets, domestic mutual funds now hold stocks worth over $8 billion, or around Rs 69,000 crore in a dozen new-age companies. The rising exposure by mutual funds in new-age companies assumes significance, given the growing influence of this institutional investor class during the pre-IPO rounds, industry insiders said.
Paytm shares rise over 3% after clarification on Sebi notice
Shares of One 97 Communications, Paytm’s parent company, rose 3.5% to Rs 548.70 on the BSE today, following a clarification on the SEBI show-cause notice issued to founder Vijay Shekhar Sharma and former board members. Over the past year, Paytm's shares have fallen 40%, with a 16.3% decline so far this year.
Paytm shares rally 5% on getting govt nod for downstream investment in payments arm
Paytm Share Price: Paytm shares saw a 5% increase after approval from the finance ministry for investment in its payment services business. This allows Paytm Payments Services Limited to resubmit its payment aggregator license application. This step is crucial as it lifts regulatory barriers and could enable Paytm to onboard new online merchants, boosting its business prospects.
Paytm focusing on consumer payments business: CEO
Paytm is prioritizing rebuilding its consumer payments business after facing regulatory setbacks. The company lost a significant number of users due to RBI restrictions on its payments bank operations. To regain lost users, Paytm is focusing on the consumer payments business and exploring new opportunities like the Third-Party Application Provider (TPAP) model.
Paytm shares drop 9% following report of Sebi's show-cause notice to Vijay Shekhar Sharma
Paytm Share Price: Paytm shares saw a 9% dip to Rs 505.25 following news that SEBI issued show-cause notices to Vijay Shekhar Sharma and ex-board members. The allegations involve misrepresentation during the IPO, focusing on Sharma’s promoter classification. This classification is significant due to regulations on ESOPs for promoters post-IPO.
For traders, good time to take buy position in Reliance; Paytm a hold or buy: Akshay Bhagwat
Akshay Bhagwat from JM Financial Services suggests taking buy positions in Reliance with targets of Rs 2,850 to Rs 2,900 and a strict stop loss below Rs 2,700. He also advises holding or buying Paytm, expecting short to medium-term upside to Rs 950 to Rs 1,000. Technical analysis for market indices and PSU stocks is also discussed.
Paytm parent One 97 Communications to hold its 24th AGM on September 12
One 97 Communications, managing Paytm, will hold its annual general meeting on September 12. The firm released its FY 2023-24 annual report on Wednesday. Despite an increase in consolidated loss to Rs 838.9 crore for Q1, Paytm anticipates improvement from Q2 FY 2025 through cost optimization and enhanced operating metrics. Revenue and EBITDA before ESOP remained on par with predictions.
Paytm CEO Vijay Shekhar Sharma deletes post about late Ratan Tata after backlash
Tata, the former Tata Group chairman, passed away late on Wednesday aged 86. Veterans and top businessmen in the technology industry paid tributes and expressed condolences to the astute businessman.
Zomato shares soar 126% this year: Still time to catch the bull run?
Zomato Share Price: Zomato shares have surged by 126% this year, driven by strong growth in food delivery and quick commerce. Analysts remain optimistic about the company's future, citing improved margins and strategic acquisitions. Major brokerage firms like UBS, Jefferies, and JP Morgan have given positive ratings, further boosting investor confidence.
Paytm could achieve profitability by 2027, upside lies in getting acquired by a bank or a corporate house: Bernstein
If Paytm goes solo, the company will need three major tailwinds to drive profitability faster, according to Bernstein. First, it will need a rapid scale-up of secured lending products, something that it has started offering now. Second, if it gets an 8-10 basis point share of the merchant discount rate on UPI payments above Rs 2,000, Paytm could become profitable by the third quarter of 2025-26.
Paytm shares rally over 5% as brokerages raise target price on Zomato deal
Paytm Share Price: Shares of One 97 Communications (Paytm) surged 5.5% to Rs 604.45 on the BSE after brokerages raised their target prices following the sale of its entertainment business to Zomato. CLSA upgraded its target to Rs 530, while Citi increased its target to Rs 440, keeping a "Sell" rating.
5 FMCG stocks Rajat Sharma is bullish on for near term
So, I think that bit of the pie for listed players will expand. Between the two, I would like to recommend and even try to buy Hyundai post listing. I do not really invest in IPOs, it is a big waste of time. But Hyundai, if you get it at a good price, it is something you should buy and hold in your portfolio. This is a sector which should do really, really well going forward. So, yes, and Swiggy, I am really not sure even with Zomato, if with all these businesses, Blinkit and everything else that they are doing.
Zomato shares zoom 4% to fresh all-time high as UBS reaffirms buy rating
Zomato Share Price: Shares of Zomato surged 4% to a new high of Rs 283.60 after UBS maintained a buy rating with a target price of Rs 320. The growth optimism follows Zomato's acquisition of Paytm's ticketing business and positive outlooks from Jefferies and JP Morgan. The stock has risen 15.6% over six days.
Hot stocks: Brokerage view on Paytm, Vodafone Idea and Jana Small Finance Bank
Brokerage firms UBS, Jefferies, Citi, and Investec have offered varied ratings on Indian stocks. UBS and Jefferies give Paytm neutral and hold ratings, citing regulatory progress. Citi maintains a buy call on Vodafone Idea. Investec starts coverage on Jana Small Finance Bank with a buy rating, expecting strong earnings growth.
Zomato shares gain 15%, remain unbeaten for 5 sessions
Zomato Share Price: Zomato shares surged 15.5% to a record high of Rs 280.60, driven by a Paytm deal, positive broker ratings, and strong earnings growth. Jefferies targets Rs 335, predicting significant delivery revenue growth.
Big movers on D-Street: What should investors do with Paytm, Nucleus Software and Aarti Drugs?
The Sensex rose by 147 points to close above 81,000, while Nifty ended above 24,800, in line with global markets. Stocks in focus include Paytm, which fell 3.14%, Nucleus Software, which declined 6.04%, and Aarti Drugs, which surged 6%. Expert advice includes waiting for dips before investing in these stocks.
Paytm shares rise 3% as co completes transfer of events biz to Zomato
The transaction completion led to a boost in Paytm and Zomato's share prices. Payments will be completed after post-closing audit adjustments.
Paytm parent’s staff costs rise 21% in a challenging year
Paytm's employee costs rose significantly in FY24, despite regulatory challenges and business slowdown. The company increased the remuneration of its CFO, Madhur Deora, by 15%, while the founder and CEO, Vijay Shekhar Sharma, did not receive a raise. Paytm has also faced several executive departures and is focused on reducing employee expenses and improving its business performance.
Zomato surges 3% on Paytm’s ticketing business acquisition, brokerages predict 29% upside
Zomato’s shares rose 3% after acquiring Paytm’s ticketing business, marking its entry into event and travel booking sectors. Analysts are optimistic, with target prices up to Rs 335. The board approved a deal with One 97 Communications, WEPL, and OTPL for this acquisition on Wednesday.
Stocks in news: Ultratech, Paytm, HCL Tech, Gland Pharma, GPT Infra
Stocks in news: The domestic market had a promising start this week, aided by a dovish stance from the US Fed. Shares of Ultratech, Paytm, HCL Tech, Gland Pharma, and GPT Infra gained attention due to various developments. Key moments included Sameera Agro’s bonus shares issue, HCLTech’s extended partnership, and GPT Infraprojects’ QIP approval. UltraTech raised $500 million through a sustainability-linked loan.
Paytm issues clarification on Sebi show-cause notice, says not a new development
One 97 Communications, the operator of Paytm, said that the show-cause notice related to founder Sharma's classification as a promoter was already disclosed in its financial results for March and June quarters. The company maintains it adheres to SEBI regulations regarding ESOPs and reported no financial impact from the notice.
Zomato approves acquisition of Paytm's entertainment ticketing business
One 97 Communications is selling its movie and events ticketing businesses to Zomato. This will be done by first transferring these businesses to its subsidiaries OTPL and WEPL, and then Zomato will acquire these subsidiaries, making them its own.
Deependra Singh Rathore is new CTO for payments at One 97 Communications
Manmeet Singh Dhody, who was the CTO of payments till now, moves into the role of AI Fellow.
At just 50%, Hyundai sees worst retail subscription among India's 5 biggest IPOs
Hyundai IPO retail subscription was the worst among biggest 5 offers in India (50%). Expensive pricing (26x PE vs industry average of 24.41x) dampened retail investor sentiment.
Zepto taps domestic family offices; Infosys, Wipro Q2 results
Zepto is in talks with domestic investors for another fundraise which may value the company at $4.6 billion. This and more in today’s ETtech Top 5.
Zomato shares rally 8% as JPMorgan hikes target price to Rs 340
Zomato Share Price: Shares of Zomato surged 7.6% on the BSE today, hitting an intraday high of Rs 261.50, following JPMorgan's target price increase to Rs 340 from Rs 208, while maintaining an overweight rating. JPMorgan highlighted Zomato’s leadership in retail consumer transformation through Quick Commerce and its expansion across metros after validating the model in NCR.
Zomato board to decide on funding via QIP on October 22
The food and grocery delivery major will put up the proposal to the board on October 22, on which day it will also declare its financial results for the July-September quarter.
Hot stocks: Brokerage view on Shyam Metalics, IndiGo, Vedanta, Zomato and Paytm
Brokerage firms have issued diverse stock recommendations: UBS endorsed Shyam Metalics as a buy, Jefferies upgraded IndiGo and Zomato to buy, CLSA maintained Vedanta at outperform, and Citi kept a sell rating on Paytm but increased its target price. The firms pointed to strong growth prospects and strategic moves influencing their ratings.
Stocks in news: Zomato, Paytm, Zen Technologies, Coal India, IREDA, Alkem Labs
Markets increased on Wednesday. Zomato approved a deal with Paytm. Coal India pursued lithium acquisitions. Zen Technologies launched a QIP. BEML signed an MoU with the Indian Navy. IREDA considered raising funds. Welspun Enterprises, Alkem Laboratories, India Grid Trust, and Cyient also saw notable activities.
Peak XV downsizes $2.85 billion fund; Paytm’s employee costs go up
Happy Wednesday! Peak XV Partners, formerly Sequoia Capital India, is cutting down the size of its 2022 fund by 16%. This and more in today’s ETtech Morning Dispatch.
F&O traders could get 80 new stocks to play
"The real excitement kicks in if F&O inclusion for both these names happens within the next few months," said Nuvama Alternative's head Abhilash Pagaria. "This could pave the way for Zomato and Jio to enter the Nifty 50 in the March 2025 review."
Sensex, Nifty close at fresh record highs driven by gains in Reliance, financial stocks
Indian equity indices Sensex and Nifty50 rebounded from a slow start to close at record highs on Thursday, driven by gains in Reliance Industries, financial and IT stocks. Sensex advanced 349 points to 82,134, while Nifty gained 99.6 points to 25,152. Despite this, overall market capitalisation fell over Rs 31,000 crore.
Vodafone Idea shares jump nearly 4% as SC to hear AGR case on August 30
Vodafone Idea shares surged 3.6% after the Supreme Court set a date for hearing its curative petition in the AGR case on August 30. Global brokerage firm Citi predicts potential benefits of Rs 4-5 per share. The hearing challenges the 2019 ruling on payments owed to the government.
D-Street at record high! Sensex jumps 400 pts, Nifty above 25,150 led by bank & IT stocks
Indian benchmark indices Nifty50 and Sensex hit record highs after gains in financial and IT stocks. Despite the rally, the market capitalisation of all listed companies on the BSE declined. Investors focused on U.S. GDP and inflation data for clues on economic trends. Crude oil prices edged up slightly, while the Indian rupee gained against the US dollar.
Swiggy’s Rs 10,000-crore issue largest among new-age IPOs since Paytm: key things to know
Food and grocery delivery firm Swiggy has filed an updated prospectus for its proposed initial public offering (IPO) comprising a fresh issue of Rs 3,750 crore and an offer for sale of 185.3 million shares. Here are the key things to know about the issue, the company's financials and competition.
Sensex, Nifty off to a flat start tracking pause in global rally, oil price surge
The buying momentum was stronger in the broader market while buying was noticed in IT, pharma, consumer and media stocks. HCL Tech was the biggest gainer among bluechips and was trading 1.5% higher.
Zomato captains India Inc’s dream Team XI with over 1,000% profit growth
The June quarter saw Zomato and 10 other companies achieving over 1,000% profit growth. Zomato's profit skyrocketed 12,550% year-on-year. Other remarkable performers were Shakti Pumps and Lotus Chocolate. Experts advise focusing on growth outlooks rather than past profits when making investment decisions.
Ratan Tata’s startup story; TCS Q2 results
Ratan Tata has always been a cheerleader and supporter of India's startup ecosystem. This and more in today’s ETtech Top 5.
UPI transactions volume rises 52 pc to 78.97 billion in Jan-Jun: Report
India's UPI transaction volume surged 52% year-on-year to 78.97 billion in H1 2024, with the transaction value rising by 40%. PhonePe led as the top UPI app. Average ticket size dropped by 8%, despite substantial growth in use for micro-transactions in sectors such as e-commerce and government services.
Ratan Tata: Part corporate titan, part secular living saint
Ratan Naval Tata, a prominent industrialist and philanthropist, passed away at 86. He transformed the Tata Group into a global giant and was known for his philanthropic work. He led significant acquisitions, including Tetley Tea and Jaguar Land Rover. Tata also supported startups and was considered a 'living saint' for his decency and integrity.
Did Ratan Tata ‘secretly’ visit Pakistan?
Ratan Tata quietly visited Pakistan with his directors for potential investments, revealed former Pakistani High Commissioner Aziz Ahmed Khan. Tata, who passed away recently, had a distinguished career, leading Tata Group's global ventures and investing in Indian startups, earning accolades including the Padma Vibhushan for his contributions to trade and industry.
Journey of wealth creation over two decades: House that Ratan Tata built into a powerhouse
Ratan Tata, chairman emeritus of Tata Sons, died on Wednesday. He leaves behind a legacy that spans more than 150 years. As the successor, Ratan Tata played a key role in transforming the conglomerate.
How 'accidental investor' Ratan Tata shaped India's startup ecosystem
Ratan Tata ventured into the startup ecosystem post-retirement in 2014, investing in over 50 startups such as Snapdeal, Ola, and Paytm through his personal firm RNT Associates and UC-RNT fund. He provided invaluable mentorship and insights, significantly influencing business strategies and achieving substantial returns.
Paytm AGM: Vijay Shekhar Sharma repeats intention to reapply for payment aggregator license to RBI in due course
Paytm's Vijay Shekar Sharma announced during the company's Annual General Meet that they will reapply for a payment aggregator license to RBI. The fintech firm received approval from the finance ministry to invest in its payment services business, allowing them to resubmit their application for the license.
In stock market lingua, Ratan Tata had infinite PE: Madhu Kela
Ratan Tata's legacy is marked by his ethical leadership and global expansion of the Tata Group. His contributions to charitable foundations and society stand out. He played a pivotal role in acquisitions like Tetley and JLR. His ethical approach serves as an enduring inspiration. His passing is a significant loss for India.
Paytm soars 10%, hits upper circuit after govt approves FDI proposal for payment aggregator biz
Paytm FDI Proposal Approved: Shares of fintech major Paytm surged up to 10% intraday on Friday following government approval of its foreign direct investment (FDI) proposal for the payment aggregator business. The financial services secretary announced that Paytm can now approach the Reserve Bank to seek the payment aggregator license, which will undergo further evaluation.
Ratan Tata: Why Indians loved the business tycoon
Ratan Tata was renowned for his transformative leadership of the Tata Group, marked by ambitious global acquisitions and ethical values. Rising from humble beginnings, he expanded the company globally. Even in retirement, Tata remained a pivotal figure, focusing on philanthropy and supporting startups while exemplifying responsible business practices.
Deven Choksey on why auto stocks are holding on, what to do with Paytm
Deven Choksey, MD of DRChoksey FinServ Pvt. Ltd, remains optimistic about two-wheelers and commercial vehicles. He believes passenger vehicle demand will recover post-challenges. On Paytm, he advises caution until profitability is shown. He sees potential in the energy transition sector, particularly green hydrogen, with significant growth expected over the next 5-10 years.
Top credit cards festive season offers 2024: SBI Card, HDFC Bank, ICICI Bank, Axis Bank, IndusInd Bank
Top credit cards festive season offers: Festive deals on credit cards comprise immediate discounts, cashback, and other benefits. Let's explore the festive promotions offered by leading credit card providers such as SBI Card, HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank.
Share market update: Most active stocks of the day in terms of total traded value
The NSE Nifty index was trading 177.4 points up at 25190.55
IPO-bound Swiggy grants $271 million Esops to founder Sriharsha Majety, top management
Of this, the food and grocery delivery major’s founder and group CEO Sriharsha Majety gets $200 million worth Esops. The Esop 2024 scheme comes with a vesting period of one to eight years from the date of the grant.
Share market update: Most active stocks of the day in terms of traded value
The NSE Nifty index closed 217.41 points up at 25013.15
Magicpin records 15x order growth on ONDC network in 15 months, crosses 1.5 lakh daily orders
"In about 1.5 years, we have double-digit market share in major cities, with more than 10 per cent market share in key markets like Delhi or Bengaluru in terms of overall food delivery. We are thrilled with magicpin's success on ONDC, where we have reached 1.5 lakh daily orders for food delivery and logistics on the network," magicpin CEO and cofounder Anshoo Sharma said.
What should long term investors do in current market scenario? Daljeet Kohli answers
Good part is that in terms of our portfolio, we were already positioned towards things which were at reasonable valuation. So, we have avoided PSUs, railways, defence, those kind of stocks. We do not own in our portfolio for quite some time now.
ET Startup Awards 2024 | Warm-up decade is done, clock is now ticking for the real game
Discussing ‘Indian Startups: 10 years and Counting’ at the Economic Times Startup Awards (ETSA) 2024 on a rainy Saturday in Bengaluru, the panel members felt that the first decade was just the warming up with the real scale-up set to happen over the next decade and more.
ETSA 2024 | Zomato’s top ranks needed a spring clean after IPO highs: Deepinder Goyal
Zomato cofounder and CEO Deepinder Goyal spoke with ET’s Samidha Sharma in a fireside chat at the Economic Times Startup Awards (ETSA) and talked about the food and grocery delivery company’s journey from listing at $7.6 billion to hitting a $29-billion market cap.
New age firms' 29% Q1 revenue growth beats BSE 500, 1-yr stock returns better too
New age companies showed strong performance in the April-June quarter, with an average 29% YoY revenue growth, led by Zomato. Paytm was an outlier, with a 36% decline. Newly listed firms including Unicommerce, Ola Electric, and Firstcry attracted considerable investor interest and delivered notable gains, reflecting a changing market sentiment.
India Inc promoters cash out Rs 1 lakh crore in 2024. Sign of stock market peaking?
In 2024, promoter sales exceeded Rs 1 lakh crore. Data from ETMarkets and Prime Database reveal that promoters of over 250 companies have sold stakes totaling approximately Rs 97,000 crore through bulk and block deals. Promoters of listed companies have also offloaded stakes through the OFS route which accounts for another Rs 7,300 crore.
ETSA 2024 | Don't need to be in Bengaluru to build a startup: Zomato's Deepinder Goyal
Zomato’s CEO said the exponential growth of quick commerce came as a surprise to the company. He said he didn't think it would grow so much.
Paytm shares jump over 6% post Q1 results
At 2:15 PM, the stock was trading 4% higher at Rs 462.7 on the BSE. Despite a 23% increase over the past three months, it has fallen 45% over the past year. Technically, the stock's relative strength index stands at 55.8. The MACD is at 19.4, positioned above its center and signal line, suggesting a bullish trend.
Uproar over EY staffer’s death; govt registration of gig workers
An IT employee union has sought a probe into the untimely death of a young chartered accountant at Ernst & Young. This and more in today’s ETtech Top 5.
Winners of The ET Startup Awards 2024 to be feted today, and other top stories this week
It’s D-day! Top entrepreneurs, policymakers, and investors will come together in Bengaluru today to honour the stars of Indian entrepreneurship at the tenth edition of The Economic Times Startup Awards (ETSA) 2024.
Paytm aims for profitability with 'compliance-first' approach: Vijay Shekhar Sharma at AGM
Paytm founder Vijay Shekhar Sharma announced at the company's 24th annual general meeting that they aim to achieve profitability soon. The company will strictly adhere to regulatory guidelines and adopt a compliance-first approach. Paytm plans to expand its merchant network and build cross-sell capabilities around financial services like loans, mutual funds, and insurance products.
Young companies should be ready to grow up; healthcare could be next big go-to sector in India: Aswath Damodaran
Aswath Damodaran from NYU sees immense potential in India's healthcare sector. He emphasizes the sector's importance and suggests it could be the next big thing, despite its need for infrastructure investment. Damodaran also stresses the necessity for companies to adapt to their life stages, whether young or middle-aged, for sustainable growth.
Share market update: Most active stocks of the day in terms of traded value
The NSE Nifty index closed 13.95 points down at 25796.9
Ace investor Akash Bhansali raises stake to 1.21% in Paytm in June quarter
Bhanshali holds 19 stocks besides Paytm, totaling over ₹5,980.4 crore. Notably, retail investors increased their stakes in the company by 1.30% in the April-June quarter, reaching 16.56%.
WazirX’s legal woes mount; NPCI’s big profit
Two large users of WazirX have raised questions about the legal proceedings over the $230-million cyberhack. This and more in today’s ETtech Top 5.
AP Dhillon concert tickets go live for Delhi, Mumbai, Chandigarh shows: Check price, venue, availability
AP Dhillon is returning to India with his The Brownprint tour, with concerts scheduled in Mumbai, Delhi, and Chandigarh this December. Tickets for the shows went live on September 29, 2024, with prices ranging from Rs 1,999 to Rs 19,999, available in both Silver and Gold categories. The tour will feature a 360-degree stage for an immersive experience, and Dhillon will perform hits like Brown Munde, Excuses, along with new tracks from his latest EP. Fans are encouraged to book soon, as the concerts are expected to sell out quickly.
New-age tech IPOs make a comeback after three-year lull; raise Rs 15,000 crore in 2024: report
In 2024, six major IPOs including Ola Electric, FirstCry and Go Digit General Insurance raked in as much as Rs 14,571 crore. This number is expected to go up as food delivery company Swiggy and fintech Mobikwik have joined the IPO queue after securing market regulator Sebi's nod.
Here's why Vinit Bolinjkar is bullish on Paytm
Two out of three loans in this sector are financed by Bajaj Finance. So, I believe Bajaj Finance is in a very favorable position, and I wouldn’t be surprised if the stock doubles in two years. The only thing we need to monitor is whether the company can guide credit costs and confirm that the worst is behind them.
Paytm shares jump 9%, inching closer to Rs 500 level
The stock fell 20% for two consecutive days after January 31, when the Reserve Bank of India imposed restrictions on Paytm Payments bank including accepting fresh deposits and doing credit transactions. On March 11, the RBI barred Paytm Payments Bank from onboarding new customers.
