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Paytm Touches Upper Circuit In Fourth Straight Session - StartupNews.fyi

Startup News FYI

Startup News FYI · 1y ago

Paytm Touches Upper Circuit In Fourth Straight Session - StartupNews.fyi

Paytm shares have seen a respite from their sharp fall following the Reserve Bank of India's (RBI) crackdown on Paytm Payments Bank. The extension of the business restrictions deadline to 15 March and the announcement of shifting the nodal account to Axis Bank have provided some optimism to the company's shareholders. Since Friday, Paytm shares have gained 21.5%. This comes after the RBI issued a notification on 31 January barring Paytm Payments Bank from banking services, which caused concerns among investors and brokerages. Despite this, Bernstein maintains an 'outperform' rating and a PT of INR 600 for Paytm.

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Why did Paytm shares hit 5% upper circuit today?

Inshorts · 1y ago

Why did Paytm shares hit 5% upper circuit today?

The shares of One97 Communications, the parent company of Paytm, hit 5% upper circuit on NSE on Monday. This comes after the fintech firm said that it has intensified its focus on insurance distribution to Paytm consumers and small merchants and SMEs. Paytm shares closed at ₹357.95 today against the previous close of ₹340.90 on the NSE.

Gainers & losers: Stocks and sectors that moved the most on October 7

Money Control

Money Control · 10m ago

Gainers & losers: Stocks and sectors that moved the most on October 7

1. Nifty 50 and Sensex ended in the red for the sixth consecutive session. 2. Natco Pharma's stock rose 3.4% after settling a US patent case over generic Ozempic products. 3. AU Small Finance Bank reported healthy loan and deposit growth, resulting in a 1.7% increase in its stock. 4. NBCC's stock jumped 3% on the ex-bonus trading day, following the announcement of a 1:2 bonus issue. 5. JP Morgan upgraded LTIMindtree to 'overweight', with a 13% upside potential. 6. Mphasis also received an upgrade from JP Morgan, with a target price indicating a 19% upside. 7. Reliance Power's stock continued to decline, hitting the lower circuit for the third consecutive session. 8. Suzlon Energy extended its losses for the eighth straight session following an advisory letter from stock exchanges. 9. Vodafone Idea's shares dropped 6% after the DoT issued a notice for non-payment of bank guarantees. 10. Kalyan Jewellers' stock fell around 1% as investors booked profits after strong Q2 business updates.

Paytm shares crash over 42% in 3 days; investors lose Rs 20,500 crore

Economic Times

Economic Times · 1y ago

Paytm shares crash over 42% in 3 days; investors lose Rs 20,500 crore

Shares of Paytm, the troubled fintech company, fell another 10% on Monday, reaching its lower circuit limit on the stock exchange. This comes as the regulatory crisis surrounding the company deepens, with fresh allegations of money laundering and an investigation by the Directorate of Enforcement (ED) emerging. Paytm has lost 42.4% of its value in the last three trading sessions, and stock exchanges have reduced the lower circuit limit to 10%. Paytm Payments Bank is also facing an existential crisis following a ban imposed by the Reserve Bank of India (RBI).

Touché: Ashneer Grover as Mamaearth shares surge 20%

Twitter · 1y ago

Touché: Ashneer Grover as Mamaearth shares surge 20%

BharatPe's former MD Ashneer Grover took to X to share a graph showing the surge of Mamaearth parent Honasa Consumer's shares and wrote, "Touché!" Honasa Consumer's shares surged 20% and hit the upper circuit at ₹423.75, as the company's Q2 profit nearly doubled to nearly ₹30 crore. In a now-deleted tweet, Ashneer claimed he applied for Mamaearth IPO.

Ola Electric Teases Launch Of Electric Bike On August 15

Inc42 · 1y ago

Ola Electric Teases Launch Of Electric Bike On August 15

EV startup, Ola Electric, hinted at the launch of an electric bike during its annual event on August 15. In a video shared on social media, the company teased the rough sketch and silhouette of the upcoming ebike model. Recently, shares of Ola Electric listed on exchanges, and after a lukewarm start, jumped 20% to hit the upper circuit.

Paytm price band revised to 10% after investors lose ₹15,000 crore in 2 days

Money Control

Money Control · 1y ago

Paytm price band revised to 10% after investors lose ₹15,000 crore in 2 days

The daily limit on shares of Paytm operator One97 Communications has been revised to 10% from 20% on NSE and BSE. The change comes after the stock hit 20% lower circuit for the second consecutive day on Friday, wiping out ₹15,016 crore from investors' wealth in two days. Paytm stock was hit after RBI put curbs on Paytm Payments Bank.

Goldman Sachs Sees 40% Upside In MapmyIndia; Stock Hits 20% Upper Circuit

Inc42 · 1y ago

Goldman Sachs Sees 40% Upside In MapmyIndia; Stock Hits 20% Upper Circuit

MapmyIndia received a price target of INR 2,800 from Goldman Sachs, indicating a potential upside of nearly 40%. The startup is expected to benefit from its strong position in various fast-growing markets such as automotive navigation, mapping devices, connected vehicles, telematics, and government digitization. As a result, MapmyIndia's shares were locked at the 20% upper circuit on the BSE and closed at INR 2,401.9.

Stock market: 5 reasons why Sensex, Nifty are on a winning spree

Business Today

Business Today · 5m ago

Stock market: 5 reasons why Sensex, Nifty are on a winning spree

The Sensex and Nifty benchmarks continued their winning streak for the fourth consecutive session, each climbing over 1% on Thursday.

Ola Electric hits fresh all-time low at ₹50.81 on Tuesday

Inshorts · 5m ago

Ola Electric hits fresh all-time low at ₹50.81 on Tuesday

Shares of Ola Electric fell for the third straight session on Tuesday, dipping as much as 5.5% to reach an all-time low at ₹50.81 on the BSE. The stock was trading at ₹51.41, down 4.4% from the previous close of ₹53.80. Ola Electric market capitalisation stood at ₹22,693.72 crore.

Paytm denies report of selling wallet business to Jio Financial Services, HDFC Bank

Inc42 · 1y ago

Paytm denies report of selling wallet business to Jio Financial Services, HDFC Bank

Paytm has denied reports of selling its wallet business to Jio Financial Services and HDFC Bank. Speculation arose after a report claimed that Paytm was in talks to sell its wallet business due to regulatory pressure from the Reserve Bank of India. However, a source at Paytm dismissed the report as speculation. Last week, RBI imposed restrictions on Paytm's payments bank, causing concern among merchants and customers. Paytm's shares were heavily sold, resulting in a lower circuit limit.

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