Zomato hits record high, bucking internet stocks’ sluggishness

Zomato hits record high, bucking internet stocks’ sluggishness

BENGALURU – Zomato is the most-valuable internet stock in Asia’s third-largest economy, with a market capitalisation of more than 1.51 trillion rupees ($18 billion). On Friday, its shares rose nearly 5% to 173.5 rupees. India’s several new-age internet companies that hit the markets during the IPO frenzy in 2021 jumped after listing but slumped eventually … Read more

Hyderabad merchants gear up for a smooth ride amid Paytm fiasco 

Hyderabad merchants gear up for a smooth ride amid Paytm fiasco 

  The Reserve Bank of India’s action against online recharge and bill payment service PayTM has created uncertainty among small businesses and traders who rely on the service for their daily transactions. The RBI has barred Paytm Payments Bank (PPBL), which has over 30 crore wallets and three crore bank accounts, from offering all forms … Read more

Why Pranav Gundlapalle finds Paytm’s current valuation attractive

Why Pranav Gundlapalle finds Paytm’s current valuation attractive

“I do not see a big market share attrition either, just given that the way the market is structured and therefore, I find this to be attractive valuation,” says Pranav Gundlapalle, Sr Research Analyst, Sanford C Bernstein. Let me first actually quote a line that has come in in your particular note where you have … Read more

UPI remittances abroad: Here’s how BHIM, PhonePe, and Paytm app users can transfer money to Singapore via smartphone

UPI remittances abroad: Here’s how BHIM, PhonePe, and Paytm app users can transfer money to Singapore via smartphone

Sending money from India to Singapore? Look no further than the UPI-PayNow link for fast, safe, and affordable transfers.    The cross-border linkage between the Unified Payments Interface (UPI) and PayNow enables Indians to receive instant, secure, and cost-effective remittances from the Singapore-based Indian diaspora directly into their bank accounts. Users of BHIM, PhonePe, and … Read more

Year ender 2023: UPI transactions rose 147% in 5 years. A look at new features announced this year

Year ender 2023: UPI transactions rose 147% in 5 years. A look at new features announced this year

UPI transactions in 2023: India has witnessed an exceptional surge in Unified Payments Interface (UPI) transactions in 2023. In FY2022-23, 8,375 crore transactions were reported up from 92 crore transactions in FY 2017-18, showcasing a compound annual growth rate (CAGR) of 147% in terms of volume. UPI has emerged as a significant player in India’s … Read more

Big movers on D-Street: What should investors do with Paytm, Varun Beverages and Astral?

Big movers on D-Street: What should investors do with Paytm, Varun Beverages and Astral?

Benchmark indices went into a tailspin after hitting their fresh all-time high levels on Wednesday, closing down by over 1% as investors cashed in on the recent rally. Stocks that were in focus included names like Paytm, which fell 1.08%, Varun Beverages, which rose 6.62%, and Astral, whose shares declined 2.19% on Wednesday. Here’s what … Read more

Hot Stocks: Brokerages view on Honasa Consumer, Paytm, Info Edge and Birlasoft

Hot Stocks: Brokerages view on Honasa Consumer, Paytm, Info Edge and Birlasoft

Brokerage firm Jefferies maintained a buy rating on Honasa Consumer, ICICI Securities recommended a buy on Info Edge India, Geojit recommended a hold on Paytm and Sharekhan has a buy rating on Birlasoft. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on Honasa Consumer: Buy| Target … Read more

MSCI Rejig: IndusInd Bank, Paytm & 7 other stocks to trade in India Standard index from Thursday

MSCI Rejig: IndusInd Bank, Paytm & 7 other stocks to trade in India Standard index from Thursday

Nine new stocks will be part of the MSCI India Index as the rejig comes into effect from Thursday. These stocks are IndusInd Bank, Suzlon Energy, Persistent Systems, APL Apollo, Polycab, Macrotech Developers, Tata Motors A, One 97 Communications (Paytm), Tata Communications. Moreover, seven stocks viz. Zomato, Hindustan Aeronautics (HAL), Jio Financial Services, Vedanta, PFC, … Read more