Paytm jumps 13%, the most in four months

On the BSE, the stock went up 13% to Rs 592.40, its highest since November 24, 2021. At 12.20pm, the BSE stock was trading at Rs 585, up 13%.

On March 24, One97 Communications Ltd.'s stock rose over 13%, its highest gain in four months.

Paytm's BSE shares rose 13% to Rs 592.40, its highest since November 24, 2021. At 12.20pm, the BSE stock was trading at Rs 585, up 13%.

The stock has lost nearly 70% of its value since its IPO at Rs 2150. It will list on 18 November 2021. Since listing, mcap has lost nearly Rs 1 trillion.

Dolat Capital has downgraded the stock to buy from 2500 and reduced the target price to 1620. RBI's decision to stop Paytm Payments Bank from admitting new clients has little impact on the company's finances but would hamper growing confidence. The RBI's decision is expected to slow Paytm's revenue growth by 100 basis points.

Macquarie Research has reduced its target price by 39% to Rs 450, advising investors to avoid bottom fishing.

"Globally, Fintechs have retreated. PayTM launched at 0.3x-0.5x PSg (price to sales growth ratio). Multiples are now 0.07x-0.35x. PayTM was valued against major fintechs. As a result, we value it at 0.2x PSg instead of 0.35x PSg, giving it a reasonable price of Rs450. Our profits and revenue expectations for PayTM have not changed ", stated Macquarie Research.

On March 23, BSE asked One 97 Communications about its recent share price drop. BSE said it has sought clarification from One 97 Communications on March 22, 2022, "to ensure that investors receive the latest relevant information regarding the firm and to notify market so that investors' interests are preserved."

One 97 Communications responded to the BSE's inquiries on March 23. : "As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), our Company has made all relevant disclosures to the stock exchanges as and when required. Furthermore, there is no information/announcement that we believe may impact the price/volume behaviour of the Company's scrip that has not been notified to the Stock Exchanges."

Bloomberg rates the stock four buys, two holds, and three sells.

Today’s Cryptocurrency Prices: Bitcoin and Ethereum maintain the markets in the green, while Avalanche declines.

SOURCE: IPO INFO The worldwide crypto market capitalization increased 4.75 percent to $2.39 trillion in the last 24 hours, while trading volume increased 14.11 percent to $102.84 billion. Stablecoins ($79.65 billion) accounted for 77.45 percent of the trading volume, while DeFi ($17.44 billion) contributed 16.96 percent. Bitcoin, which is presently selling at $51,103.04, has increased its market share to 40.50 percent. In terms of key cryptocurrencies, Bitcoin gained by 4.21 percent to Rs 39,64,949, while Ethereum increased by 1.95 percent to Rs 3,18,710.1. Cardano (Rs 114.01) increased by 8.41%. Over the last 24 hours, Avalanche (Rs 9,379.73) fell 2.76 percent, Polkadot (Rs 2,250) climbed 3.12 percent, and Litecoin (Rs 12,840.66) rose 4.39 percent. Tether fell 1.32 percent to Rs 77.86 per unit. SHIB , a meme coin, climbed by 10.25 percent, while DOGE increased by 3.94 percent to Rs 14.24. Bitcoin is currently trading at Rs 38,33,811, whereas LUNA is currently trading at Rs 7,669.99,

Data Patterns IPO opens today. Should you subscribe to the issue?

Please visit our website IPO Info for more information. The Data Patterns (India) Limited IPO will hit the primary market on December 14 and will be open to subscription for the next two days. Data Patters India (IPO) is among the few vertically integrated players providing solutions related to defence and aerospace electronics. Incorporated in 1985, it offers products to the entire spectrum of defence and aerospace platforms – space, air, land, and sea, and is well positioned to benefit from the government of India’s ‘Make in India’ push. The company has established itself as a leading solutions provider to the indigenously developed defence products industry through its in-house design capabilities across the spectrum of strategic defence and aerospace electronics solutions, including processors, power, radio frequencies and microwave, embedded software, and firmware, and mechanical engineering. Its products have been used in flagship defence projects like Tejas Light Combat Air

MF investors load up on equity mutual funds in March, dump bond funds

Equity mutual funds have closed the financial year 2022-2023 on a mixed note. Equity schemes of Indian mutual funds saw net inflows of Rs 28,463 crore in March 2022 compared to net inflows of Rs 19,705 crore in the previous month. The overall assets under management remained almost flat at Rs 37.56 lakh crore as on March 31, 2022, due to outflows from bond funds. Systematic investment plan (SIP) has been a preferred means for investing in mutual funds especially in equity funds for most individual investors. SIP contribution for the month of March 2022 was recorded at Rs 12,327 crore compared to Rs 11,438 crore in the previous month. The number of SIP accounts has gone up to 5.27 crore in March 2022 compared to 5.17 crore in February 2022. Index funds have seen net inflows of Rs 12,313 crore in March 2022 compared to net inflows of Rs 5,747 crore in the previous month. All open-ended equity scheme categories have seen net inflows in March 2022. A large chunk of money however came throu

StockRani

Search This Blog