Business

Is the worst over for Paytm- Stock gains for 4th consecutive day; Here’s all you need to know

Shares of One97 Communications, the parent company of Paytm, extended their positive momentum for the fourth consecutive session. The stock soared more than 4% intra-day basis on Wednesday March 20, hitting day high of Rs 425.70 on the NSE, buoyed by robust trading volumes.

The gains came in the wake of the National Payments Corporation of India (NPCI) granting approval for Paytm to operate within the Unified Payments Interface (UPI) framework as a third-party application provider (TPAP) under the multi-bank model.

Morgan Stanley, a prominent global brokerage firm, reiterated its ‘Equal-Weight’ rating on the stock, maintaining a price target of Rs 555 per share in light of this development.

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Additionally, domestic broking firm YES Securities upgraded its outlook on Paytm for the first time since initiating coverage on the stock. The move follows a turbulent period during which the Reserve Bank of India (RBI) directed Paytm to shutter its Paytm Payments Bank (PPBL) due to compliance concerns, leading to a significant decline in the company’s share price.

Yes Securities upgraded the payments company stock to “buy” from “neutral” and raised the target price to Rs 505 from Rs 350.

The brokerage firm noted that NPCI’s approval for Paytm to participate in UPI as a TPAP within the multi-bank model will help sustain its UPI business operations.

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Under this arrangement, four major banks, including Axis Bank, HDFC Bank, State Bank of India, and YES Bank, will serve as Payment Service Providers (PSPs) to Paytm. These banks will facilitate electronic transactions between various parties using the Paytm app for payments.

The approval signifies a crucial step forward for Paytm, enabling it to maintain its foothold in the rapidly evolving digital payments landscape despite recent regulatory challenges.

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Eiyuden Chronicle- Hundred Heroes Review – One In A Hundred

In the years since the explosion of game crowdfunding, a stigma has emerged surrounding these titles. Yes, there have been plenty of games that enjoyed great success after their crowdfunding campaigns, but more people remember the high-profile flops: games with big names and ambitious promises attached that, for a variety of reasons, betrayed the high hopes fans held for them. Many of these were revivals–spiritual or otherwise–of beloved series from ages past. Now we have Eiyuden Chronicle: Hundred Heroes, a crowdfunded game designed to carry the torch of the much-beloved Suikoden series from the PS1 and PS2–and, with such a high pedigree attached, there’s understandable trepidation: Will this be a glorious return to form, or another disappointment? Fortunately, for us (and all of the backers), it turned out wonderfully.

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InvITs and REITs get massive fundraising push – Here’s more about these investment options

There are various investment instrument that are gaining popularity. InvITs and REITs are two such options. But what exactly are InvITs and REITs? Let’s break it down in simple terms.

What are InvITs?

InvITs stands for Infrastructure Investment Trusts. Imagine you want to build a road, a bridge, or set up a power plant. These are huge projects that require a lot of money. Sometimes, companies don’t have enough money to fund these projects on their own. So, they look for investors who can help them.

This is where InvITs come into play. InvITs are like a group of people coming together to invest their money in big infrastructure projects. When you invest in an InvIT, you become a part-owner of these projects. In return, you get a share of the income generated by these projects.

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No plans to sell SUUTI stake in ITC, says DIPAM Secretary Tuhin Kanta Pandey

The government has no plans to sell its part stake in ITC, held through SUUTI, amid BAT paring its stake through a block deal in the Kolkata-based FMCG player, a top official said on Wednesday. As on December 31, 2023, Specified Undertaking of Unit Trust of India (SUUTI) held around 7.82 per cent stake in the diversified conglomerate ITC.

“There is no such plan at the moment,” Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told PTI. SUUTI last pared a stake in ITC in February 2017, when two per cent equity was sold at a price of Rs 291.95 per share via block deal. In a block deal, two parties make a transaction involving shares worth at least Rs 5 crore. Block deal transactions are conducted in a separate trading window.

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Mcap of nine of top-10 most valued firms surges Rs 97,463 crore; Reliance leads

The combined market valuation of nine of the top-10 most valued firms surged Rs 97,463.46 crore last week, with Reliance Industries emerging as the biggest gainer, amid an overall positive trend in equities. Last week, the BSE benchmark jumped 580.98 points or 0.91 per cent. Barring Bajaj Finance, the rest nine firms, including Reliance Industries, HDFC Bank, ICICI Bank and State Bank of India emerged as gainers. Come from Sports betting site VPbet

The market valuation of Reliance Industries jumped Rs 36,399.36 crore to Rs 15,68,995.24 crore. State Bank of India’s market capitalisation (mcap) zoomed Rs 15,305.71 crore to reach Rs 5,15,976.44 crore. The valuation of ICICI Bank surged Rs 14,749.52 crore to Rs 6,54,042.46 crore and that of HDFC Bank climbed Rs 11,657.11 crore to Rs 11,25,842.89 crore.

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Profitbooking on D-Street, markets snap winning streak! Sensex falls 600 points, Nifty closes near 22,400 dragged by financial services 

The Indian equity indices on Friday closed lower majorly dragged by financial services stocks as Bajaj Finserv released its results for Q4 FY2024. Sensex lost 609 points or 0.82% to close the day’s trading at 73,730.16. The Nifty 50 closed 150 points or 0.67% lower at 22,419.95. The gainers included Tech Mahindra, Divis Lab, LTIMindtree, Bajaj Auto, and BPCL. The Indian Volatility Index (India VIX) was up 1.77%. 

Flipping the trend, the Nifty Midcap 100 jumped 396 points or 0.79% to finish the session at 50,228.50, near its lifetime high of 50,684.50, which it touched on April 26. Nifty Bank closed the day’s trading 294 points lower at 48,201.05. 

On the sectoral front, financial services and banking stocks pushed the indices lower. In the broader indices, smallcap and midcap stocks closed in the green. 

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Sebi lays guidelines for beta version of T+0 settlement cycle

Capital markets regulator Sebi on Thursday put in place a framework to introduce the beta version of the T+0 trade settlement cycle on an optional basis.To begin with, this option will be available for a limited set of 25 scrips and with a limited number of brokers.This will be in addition to the existing T+1 settlement cycle in the equity cash market. The new framework will come into force with effect from March 28, the Securities and Exchange Board of India (Sebi) said in a circular.

“Pursuant to deliberations and approval of the Board, it has been decided to put in place a framework for the introduction of the Beta version of the T+0 settlement cycle on an optional basis in addition to the existing T+1 settlement cycle in the equity cash market, for a limited set of 25 scrips and with a limited number of brokers,” Sebi said.

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