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
One 97 Communications’ founder and Chief Executive Officer (CEO) Vijay Shekhar Sharma has become the company’s sole significant beneficial owner (SBO) following a reduction in the shareholding of AntFin from an earlier 23.79% stake to 9.90%. Sharma now holds 19.42% stake in the Paytm operator. The 19.42% stake in Paytm is by virtue of Sharma … Read more
Indian market is expected to open higher on Thursday tracking positive global cues. The S&P BSE Sensex rose more than 200 points while the Nifty50 closed above 19400 levels in the previous trading session. India VIX was down by 0.17% from 11.75 to 11.73 levels on Wednesday. Volatility cooled off during the day and comforted … 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
Sanjiv Bhasin, Director, IIFL Securities, says “in largecaps, this is a brilliant opportunity for Maruti, Lupin, Apollo Hospital and last but not least, Gujarat Gas. The largest city gas distribution and gas prices globally have fallen. Their margins will only rise and volumes will pick up. At Rs 458-460, I think this stock is headed … Read more
Vinit Bolinjkar, Head-Equity Research, Ventura Securities, says RBL is definitely a stock to buy. So, irrespective of Mahindra putting money into this stock, we had a buy on this stock at Rs 130 with a target of Rs 260. Today, we are sitting around 210-220 odd levels still a way to go and our estimates … 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
Fintech major Paytm will announce its first-quarter earnings on Friday and analysts are expecting a steady sequential growth in revenue, while faster growth in financial services will be offset by seasonally weak commerce business and lower payments revenue. The lower payment revenue is mainly due to the high base in the preceding March quarter as … Read more
The Indian market is expected to inch higher on Friday. The trend remains mixed; hence, some profit-taking could be seen at higher levels. The S&P BSE Sensex rose nearly 500 points while the Nifty50 closed just a shade below 20,000 on Thursday. India VIX was up by 1.59% from 11.60 to 11.78 levels on Thursday. … Read more
Billionaire Mukesh Ambani, the king of disruption, is at it once again. Just when Bajaj Finance became India’s most valued NBFC following a $40 billion reverse merger of HDFC with HDFC Bank, Reliance Industries (RIL) has already fired a $20 billion salvo to change the pecking order in the world of shadow lenders. Following a … Read more