PAYTM PROFIT
CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
Airtel, Jio, Vodafone Idea push long-term plans at old rates to retain users
After announcing telecom pack price hikes of up to 25% effective July 3-4, telcos are urging subscribers to recharge long-term plans at old prices to reduce customer attrition. Bharti Airtel, Reliance Jio, and Vodafone Idea (Vi) are promoting 365-day plans priced between Rs 2,545 and Rs 3,099 through in-app promotions.
Wary Paytm to avoid regulated biz; Foxconn to make AI servers in India
Happy Friday! Paytm is steering clear of regulated businesses and will instead focus on building a strong distribution network. This and more in today's ETtech Morning Dispatch.
Amazon Pay India top up; GST summons for egaming firms
Amazon has pumped Rs 600 crore in its local fintech unit Amazon Pay India. This and more today’s ETtech Top 5.
Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
Bulls in Action: Sensex jumps over 200 points, Nifty crosses 23,600; mid and smallcaps outperform
Within the Nifty pack, UltraTech Cement, HDFC Bank, Divi's Lab, Coal India, and SBI were the top gainers while HCL Tech, Asian Paints, and Titan faced selling pressure. Shares of new-age companies like Paytm, Zomato, and Policybazaar traded higher by around 2% each after Morgan Stanley's bullish note.
- Go To Page 1
Morgan Stanley sees 7-35% upside for new-age stocks
"We see macro factors aligning (multiple re-rating for growth stocks in India and other regions, tight PE/VC money keeping the competitive environment benign) with micro factors (strong execution reflected in market share gains, margin improvement driving profit upgrade cycle) and supporting share prices," said Morgan Stanley's analysts in a client note.
IPO market picks up after two years of slowdown; is it the right time to invest in IPOs?
Are you also planning to invest in the upcoming IPOs? Brokerages often express bullish views on IPOs because increased investor participation benefits their business. However, take their advice with a pinch of salt. Here are a few things to keep in mind before you invest
Big movers on D-Street: What investors should do with Paytm, Godawari Power, and Som Distilleries
The primary price trend of Godawari Power has increased significantly by 157% YoY. The stock recently experienced a technical pullback from its shorter-term weekly moving averages, climbing 35% in under four weeks. Hence, the counter is now trading 14% higher than its mean, increasing the likelihood of profit-taking.
Zomato in talks to acquire Paytm's movies, ticketing business; deal pegged at around Rs 2,000 crore
Zomato’s interest in acquiring Paytm's events and movie ticketing business is in line with the Gurgaon-based company's efforts towards capturing consumer demand across categories like food, grocery and entertainment. If the transaction goes through, it will be the second biggest acquisition for Zomato after it acquired quick commerce platform Blinkit in 2022 in an all-stock deal for Rs 4,447 crore.
Paytm shares fall 3% amid reports of talks to sell movie ticketing business to Zomato
If the deal goes through, it will be among the largest buyouts for Zomato after it acquired Uber Eats in 2020 and took over quick commerce platform Blinkit in 2021 in an all-stock deal valued at Rs 4,447 crore.
Zomato-Paytm deal will be a win-win for both companies: Pankaj Murarka
Stock might look a bit rich in terms of near-term valuations over the next four or six quarters, but I still think from a medium-term perspective the outlook for the group and business or stocks continues to remain positive.
Stocks in news: Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS
Sensex and Nifty hit new highs. NCLAT directs NCLT to re-hear APL Apollo Tubes insolvency plea. Reliance Jio's tech collaboration with TM Forum sees 80% resource increase. Police investigate child labor at Som Distilleries. Mahindra Lifespace targets sharp increase in sales. Lupin enters CDMO business. Alembic Pharma receives FDA approval.
Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding
Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.
NCLT directs Byju’s to maintain status quo; ETtech Done Deals
NCLT has asked Byju's to maintain status quo in its shareholding, pausing its controversial rights issue, this and more in today’s ETtech Top 5.
Paytm lays off employees as part of restructuring, facilitates outplacement support
Paytm's sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India's ban on services of Paytm Payments Bank.
Paytm shares locked-in 10% upper circuit amid heavy volumes
Shares of One97 Communication, the company behind the digital payments platform Paytm, experienced a significant surge of up to 10% intraday on Friday following an upward revision of the circuit filter at the stock exchanges.
Paytm shares jump another 5% despite denying talks with Adani
Paytm shares rose 5% amid reports of deal talks between Paytm CEO and billionaire. Shares hit upper circuit limit despite company's denial of discussions.
PNB Housing Finance shares drop over 8% after 2.7% equity change hands
PNB Housing Finance shares experienced a significant decline of over 8%, reaching the day's low at Rs 724 in Wednesday's trading on the BSE. This drop followed a sizable block deal where 2.7% of the equity changed hands.
Paytm withdraws general insurance licence application; to focus on distribution-only model
Troubled fintech Paytm will increase focus on insurance distribution. It had earmarked Rs 950 crore to invest in the entity applying for the general insurance licence but it now expects to conserve that cash. The Noida-headquartered company will focus on distributing small ticket-size insurance products such as life, health, motor, shop and gadgets.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Paytm shares drop 3% after Q4 results. Should You buy or sell?
Paytm's Q4 results show widened losses and reduced revenue, impacted by disruptions and regulatory actions. Analysts vary: Bernstein sees signs of recovery, Macquarie remains cautious, Motilal Oswal maintains a neutral stance, while JM Financial advises selling.
Paytm expects near-term impact on revenue, profitability due to regulatory action: Vijay Shekhar Sharma
Paytm’s parent, One 97 Communications Ltd, is taking steps to “strengthen the governance framework across our group entities (especially regulated entities)” by appointing subject matter experts as advisors of independent directors, says founder Sharma in letter to shareholders. Going forward in the ongoing fiscal, Paytm also anticipates reduction in employee costs.
Paytm shares rally 5% despite widening net loss in Q4
Despite widened net loss and a revenue drop in Q4, Paytm's shares closed near a 5% upper circuit. Impact of disruptions from UPI transition and Paytm Payments Bank embargo cited. Impairment provision of Rs 227 crore for investment in PPBL recorded.
Paytm Q4 Results: Loss widens to Rs 550 crore; revenue drops 3% YoY
Paytm Q4 Results: The fintech major's March quarter results were impacted by temporary disruptions on account of the UPI transition and permanent disruption because of the payments bank embargo. The company said Payment Bank's products like Paytm wallet and FASTag were distributed but due to the current embargo, it anticipates a steady state of an annualised direct impact on EBITDA to be around Rs 500 crore.
Q4 results today: Sun Pharma, Nykaa, Paytm among 162 companies to declare earnings on Wednesday
162 companies to report Q4 earnings on Wednesday. Nykaa expects 24% BPC and Fashion GMV growth, while Paytm faces a revenue decline from RBI actions. Analysts also predict pressure from discounting and lower advertising income.
Stocks in news: Apollo Tyres, Protean e-Gov Tech, Sun Pharma, Nykaa, Paytm
Warburg Pincus arm White Iris Investment will likely offload 3.5% stake in Apollo Tyres through block deals, according to reports.
Nykaa, Paytm to announce Q4 earnings tomorrow. Here's what to expect
Analysts expect Nykaa to continue the stable trend seen in the last few quarters, while Paytm will likely see a decline in core earnings due to RBI's restrictions on the Payment Bank.
Paytm market cap nears $2.5 billion; state-run banks turn to GenAI
Paytm’s market capitalisation is down to nearly $2.5 billion after a ninth straight session of declines on the BSE.
Load More
