AXIS BANK NOIDA
A week of hits and misses in fintech; and other top tech, startup stories
Hi, this is Pratik Bhakta in Bengaluru. It’s been a busy news week for us here at ETtech covering some of the most important stories in the fintech space. We had a string of big exclusives, wrapping it up here just in case you missed reading them.
Paytm Payments Bank’s wallet business fading fast as restrictions bite
Regulatory actions cripple Paytm Payments Bank's mobile wallet business, leading to a significant decline in transactions and value. Competitors like Mobikwik, PhonePe, Amazon Pay, and Slice experience growth in their wallet businesses.
Paytm secures NPCI nod for migrating its users to other banks
The four banks which will be working with Paytm for UPI payments are State Bank of India, Yes Bank, HDFC Bank and Axis Bank.
NPCI allows Paytm to become third-party application on UPI with four banks
The permission will allow Paytm to offer UPI payment services through a multi-bank model, like rivals PhonePe and Google Pay, moving away from its exclusive partnership with associate entity Paytm Payments Bank Ltd.
Paytm looking to migrate UPI payments to four banks, eyes TPAP status before March 15
While Yes, Axis and HDFC Bank were in contention from the start, SBI is the fourth bank to get a share of Paytm’s UPI payment volume.
Flipkart CEO confirms top-deck exits; Paytm stock on upswing
Flipkart group CEO Kalyan Krishnamurthy on Tuesday informed staff about senior-level exits in the ecommerce major, confirming ET’s scoop. More on this in today’s ETtech Top 5.
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IIT-Roorkee sees 802 job offers in first 15 days of final placements
Accenture Japan, American Express, Axis Bank, Axtria India, Bajaj Auto & Chetak Technology, Bharat Petroleum Corporation, Cisco, EXL Service, Futures First, Google, ICICI Bank, Jaguar Land Rover India, JP Morgan & Chase, Merilytics, Microsoft, Navi, Oracle India., Qualcomm India, Reliance Industries, Sprinklr, Texas Instruments and Zepto were among the companies that participated in the placements drive, according to the statement issued by IIT-R.
How to invest in bank FD and RD in the name of minor child
A parent can open a bank account in the name of their minor son or daughter in order to invest in fixed deposits (FD), recurring deposits (RD) or others. The process is easy and requires the minor's birth certificate or Aadhaar, depending upon the bank. Parents will however have to give their Aadhaar, PAN or any of the officially valid documents (OVD).
Stock market update: Nifty Bank index advances 0.7%
The Nifty Bank index closed 0.7 per cent up at 43619.4.
Developers on land acquisition spree on Noida Expressway
“While Noida has always enjoyed excellent infrastructure, it has now become very attractive due to a significant improvement in governance and the law-and-order situation. This has led to a quantum jump in demand for upper-end and luxury residential developments,” said Gaurav Kumar, Managing Director, Capital Markets and Residential Business, CBRE India.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 20%
While Nifty might be correcting from its recently formed new highs, the broader market continues in bullish mode making analysts bullish on select large cap stocks. Making to the list are companies from different sectors, right from an insurance provider to banks to new age companies. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Max Estates to launch first residential project by June 2023
Max Estates has received approval for its Sector 128 Noida project, with a gross development value estimated to be over Rs 1,300 crore ($177m). The Indian real estate developer has also signed a joint development agreement for a 2.4 million sq ft development in Sector 36A, Gurugram.
Visa pauses single-click checkout; trouble mounts for Blinkit as delivery workers join rivals
Card payments major Visa has paused its single-click checkout service in India amid RBI’s attempts to make the digital payments industry safer for customers. This and more in today’s ETtech’s Morning Dispatch.
NCLT gives approval to Max Estates bid to acquire stalled mixed use project 'Delhi One' in Noida
Boulevard Projects Pvt Ltd, which is a Special Purpose Vehicle (SPV) owned by the promoters of realty firm 3C group, had launched Delhi One project around a decade ago on a plot of 34,697 square metres. The project consists of one commercial tower, one hotel tower, retail spaces and three residential towers.
Max Estates to develop 2 million sq ft of residential and commercial space in 2023
In the last six months the company completed three land transactions, acquiring around 22 acres for Rs 850 crore. One of these land lots will be used for residential development, while the rest will be used for commercial buildings. Max is in talks for another land acquisition on the Dwarka Expressway in Gurgaon for residential development.
Uniparts India IPO kicks off: Should you subscribe?
The majority of the brokerage firms remain positive on the issue, citing reasonable valuations, strong business models, robust growth prospects and attractive opportunities. However, being entirely an OFS is a key risk to the issue, according to analysts.
Unipart India IPO to open on Nov 30; price band fixed at Rs 548-577
The company has five manufacturing facilities, two at Ludhiana, Punjab, one at Visakhapatnam, Andhra Pradesh, and two at Noida, Uttar Pradesh. It also has a manufacturing, warehousing and distribution facility at Eldridge (US).
Max Ventures & Industries Limited reports 62% YoY increase in revenue during Q2 FY23
The company has entered Gurugram with 1.6 million sq ft commercial development opportunity by acquiring 100% of equity of Acreage Builders Private Limited, at an enterprise value of Rs 322.50 crore, subject to seller obtaining requisite approvals.
Trident Realty acquires 200-acre land in Panchkula
Trident Realty Group has acquired a 200-acre plot of land in Panchkula and will invest Rs 3,000 crore to develop a township there, Group Chairman SK Narvar of Trident Realty told ET. In the first phase the company, which has a presence in Delhi NCR and MMR, is planning to develop a 125-acre land parcel that will include plots for buyers and common facilities.
New York Life Insurance to invest Rs 196 crore in a commercial project of Max Estates in Noida
The land spread across 4 acre in Sector 129, Noida was acquired by Max Estates, the real estate arm of Max group, from Axis Bank for Rs 220 crore in August. These land parcels are contiguous to Max Square, an under-construction office development by Max Estates, in partnership with New York Life Insurance Co.
Stocks in the news: TCS, Axis Bank, JSW Steel, HDFC Life and Tata Consumer
UK-based investment company Abrdn is planning to sell up to 4.3 crore sales or 2 per cent of HDFC Life Insurance player outstanding shares through a block deal to raise over Rs 2,425 crore.
Stock market update: Stocks that hit 52-week highs on NSE in today's trade
Oswal Agro Mill, Aurionpro Sol, Noida Toll Brid, Selan Expl Tech and Omax Autos, hit their fresh 52-week highs during the day.
Stock market update: Stocks that hit 52-week lows on NSE in today's trade
Coal India Ltd, Shree Cements, HDFC, Nestle India and Bajaj Finserv were among the top losers on NSE in today's trade.
Stock market update: Nifty Bank index advances 0.39%
The Nifty Bank index closed 0.39 per cent up at 40574.0.
Max Estates to acquire 7.25 acre land in Gurgaon for Rs 322 crore
“This acquisition marks our entry into Gurugram, a key market for Commercial Real Estate (CRE) both within Delhi-NCR and pan-India. The transaction will further diversify the geographic footprint of our CRE Portfolio and aid our aspiration of becoming a leading player in the Delhi-NCR,” said Sahil Vachani, MD & CEO of MaxVIL.
Max Estates to scale up its real estate business development portfolio
The company announced that Max Estates’ SPV has been confirmed, by Axis Bank, as the successful bidder for two land parcels auctioned by them for a total consideration of Rs 220 crore.
Max Ventures Emerges Top Bidder for Axis Bank's Land
CBRE has the mandate for the auction of this parcel in addition to four other mixed-use township land parcels along the Yamuna expressway. CBRE, Max Estates and Axis Bank did not respond to the email query. Max Estates is the real estate arm of the group. In February, MaxVIL closed the first tranche of the divestment of the balance 51% stake in its packaging business for ₹628 crore and has now emerged as a pure-play real estate business entity with a focus on premium residential and commercial real estate in the National Capital Region.
Stocks in the news: HCL Tech, Axis Bank, MindTree, Delta Corp and NMDC
MindTree, Tata Metaliks, Premier Polyfilms, International Travel House and Gujarat Hotels are among the company that will announce their quarterly earning for the quarter ended June 2022.
Want to clear all debt, but one account's stuck: Subhash Chandra
One account is a major problem (Yes Bank), and we are at a loss on what they want to do. Whether they want to be in the shoes of a lender or a shareholder (in Dish TV).
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