Paytm shares rallied over 4% to hit their 52-week high at Rs 939 in Monday’s trade on BSE after the digital payments service provider announced the launch of an automatic top-up feature for its UPI LITE service, enabling PIN-less transactions for payments under Rs 500. The new feature, currently available for select Yes Bank and … Read more
While Nifty ended with modest weak-on-weak gains of 0.4%, the truncated trading week was laden with top action where over three dozen companies from large, mid and smallcap segments witnessed prominent block deals worth Rs 40,543 crore on screen, which included both buying and selling. In the largecap segment, 15 companies witnessed significant block deals … Read more
Goldman Sachs Singapore Pte sold 44.20 lakh shares of One 97 Communications on Tuesday via block deal at a price of Rs 183.44 crore. The private equity firm sold Paytm shares at Rs 415.04 apiece, which was at a discount of 2.3% over Friday’s closing price of Rs 424.90. On Tuesday, Paytm shares ended at … Read more
Notwithstanding the spate of positive news flow that has taken Paytm shares 10% higher in two days, global brokerage Jefferies temporarily suspended the coverage on the fintech stock but stopped short of stopping coverage. Stating that the valuation could vary on the basis of merchant/user attrition to the tune of 10-30% and a hit to … Read more
Shares of the crisis-ridden One 97 Communications, which runs Paytm, was back on the losing road on Thursday as the two-day ‘buy the dip’ rally fizzled out, taking the stock back to 10% lower circuit limit at Rs 447 on BSE. Fresh comments from RBI officials that the action against Paytm was taken after persistent … Read more
Also, Macquarie maintained a neutral stance on HDFC Life and Goldman Sachs recommended a buy on Paytm. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on Avenue Supermarts (D-Mart): Hold| Target Rs 3850 Jefferies maintained a hold rating on Avenue Supermarts (D-Mart) but raised the target … Read more
One 97 Communications which operates the fintech platform Paytm witnessed a 20% year-on-year (YoY) jump in its average monthly transacting users (MTU) which stood at 9.4 crore for the quarter to date (average for July and August 2023) period, the company informed in a filing to the exchanges on Tuesday. The company said that it … Read more
Fintech giant Paytm on Monday said it is investing in AI to build an Artificial General Intelligence software stack. In the annual report for FY23, the company’s CEO Vijay Shekar Sharma said Paytm pioneered mobile payments in India and led mass adoption with innovations like QR Codes and Soundbox. He said Paytm’s next contribution will … Read more
Shares of fintech One 97 Communications, which runs the payments platform Paytm, jumped 11.6% to Rs 887 in Monday’s trade on BSE after the company’s boss Vijay Shekhar Sharma entered into an agreement with Ant Financial to buy its 10.30% stake in One97 Communications. Sharma, who is the Founder and Chief Executive Officer of One … Read more
Fintech major Paytm‘s consolidated net loss narrowed to Rs 357 crore for the quarter ended June. It was Rs 644 crore in the year-ago period. However, the loss has widened when compared with Rs 168 crore reported in the preceding March quarter. Revenue from operations during the quarter rose 39% to Rs 2,342 crore as … Read more