PAYTM E COMMERCE
Zomato shares gain 15%, remain unbeaten for 5 sessions
Zomato Share Price: Zomato shares surged 15.5% to a record high of Rs 280.60, driven by a Paytm deal, positive broker ratings, and strong earnings growth. Jefferies targets Rs 335, predicting significant delivery revenue growth.
Zomato upsets BookMyShow-KKR deal; BigBasket's FY24 report
Zomato’s entry into the entertainment space has cast a cloud over KKR’s investment in BookMyShow. This and more in today’s ETtech Top 5.
Zomato shares rally 8% as JPMorgan hikes target price to Rs 340
Zomato Share Price: Shares of Zomato surged 7.6% on the BSE today, hitting an intraday high of Rs 261.50, following JPMorgan's target price increase to Rs 340 from Rs 208, while maintaining an overweight rating. JPMorgan highlighted Zomato’s leadership in retail consumer transformation through Quick Commerce and its expansion across metros after validating the model in NCR.
What should investors do with Paytm stock? Vinit Bolinjkar answers
I think this dip 500 to 525 seems to be a good enough price to get in. Company has adequate growth triggers in place and the business model is absolutely robust and stood the test of time. So, we remain convinced on the growth story of this company.
Zomato surges 3% on Paytm’s ticketing business acquisition, brokerages predict 29% upside
Zomato’s shares rose 3% after acquiring Paytm’s ticketing business, marking its entry into event and travel booking sectors. Analysts are optimistic, with target prices up to Rs 335. The board approved a deal with One 97 Communications, WEPL, and OTPL for this acquisition on Wednesday.
New age firms' 29% Q1 revenue growth beats BSE 500, 1-yr stock returns better too
New age companies showed strong performance in the April-June quarter, with an average 29% YoY revenue growth, led by Zomato. Paytm was an outlier, with a 36% decline. Newly listed firms including Unicommerce, Ola Electric, and Firstcry attracted considerable investor interest and delivered notable gains, reflecting a changing market sentiment.
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Robust growth ignites rally in new-age stocks, 45% gains made in 6 months
New-age stocks surged recently, thanks to higher revenue growth and increased profitability through reduced spending. The ET E-commerce Index rose 45% in six months. Shares of Zomato, Paytm, and PB Fintech showed notable gains. Foreign institutional investors significantly increased their stakes, supporting the growth of these companies.
Fair pricing, macros aiding listing pop for new-age tech IPOs: SoftBank’s Sumer Juneja
The Masayoshi Son-led Japanese group’s cumulative holdings across the three recently listed companies, Ola Electric, FirstCry and Unicommerce, stand at about $2 billion following their market debut. Sumer Juneja credited domestic mutual funds for boosting demand.
Ola Electric IPO subscribed 4.27X on final day of bidding
Ola Electric Mobility’s ₹6,146 crore IPO, the biggest so far in 2024, was oversubscribed 4.27 times. The offering included ₹5,500 crore in new shares and ₹645.6 crore from existing investors. Funds will support plant expansion, debt repayment, and R&D. Listing is expected on August 9.
PhonePe, Google Pay cede online payment share to new entrants
The UPI payments space has seen an influx of new players in recent times. The entrants are challenging the dominance of PhonePe and Google Pay, which control more than 80% share of the market.
Indian startups can thrive despite speed bumps, Lightspeed’s Bejul Somaia says
Earlier this year, Paytm faced a regulatory directive that severely impacted its payments bank subsidiary. Meanwhile, Byju’s has been grappling with issues related to corporate governance and legal. Despite the challenges India's capital market is thriving said Lightspeed Venture Partners’ Bejul Somaia in an interview.
Budget 2024: ONDC and more on e-commerce's cart for Nirmala Sitharaman
Budget 2024: Finance Minister Nirmala Sitharaman will present Budget 2024 on July 23, outlining Modi's third term roadmap. The e-commerce sector, including Vijay Shekhar Sharma and MSMEs, seeks ONDC support. TEAM scheme, Rs 277 crore, aids MSMEs' digitalization. Shireesh Joshi targets 10 million ONDC transactions. Parliament session: July 22-August 12. Interim budget was presented in February; Lok Sabha polls held April-June.
Ecom Express sets the ball rolling for Rs 3,000-crore IPO
Third-party logistics firm Ecom Express is looking to list on the public markets to raise Rs 3,000 crore, two people aware of the development told ET. The Warburg Pincus-backed company has appointed bankers Kotak Capital, IIFL, Axis Capital, and UBS to take forward the process.
Deven Choksey on one sub-sector to be bullish on in run up to Budget
Maybe for buying the deep value investment opportunity, we will have to see a correction in the market. If at all it comes, that would be a good opportunity to buy into it. But otherwise, I maintain that I think, yes, the fundamental is not doubted. The current valuations are not comforting.
Paytm appoints Rajeev Agarwal to board; Neeraj Arora resigns
Paytm has appointed former Sebi whole time member Rajeev Krishnamuralilal Agarwal to the board as non-executive independent director as Neeraj Arora had resigned citing "personal commitments".
Paytm Bank slows down in Fastag lane; q-comm in soup over food safety
Happy Friday! Banks are gaining ground in the toll payments space as Paytm Payments Bank’s market share continues to plummet. This and more in today’s Morning Dispatch.
Adani Paytm report: Congress attacks PM Modi, says 'Paytm was Pay to Modi'
The opposition party Congress launched a blistering critique of the Prime Minister on Wednesday following reports suggesting that billionaire Adani might acquire a stake in Paytm. Following the release of the report regarding Adani and Paytm, both companies swiftly clarified their positions. One97 Communications addressed a media report on Wednesday suggesting that Gautam Adani, chairman of the Adani Group, may be contemplating acquiring a stake in Paytm's parent company, One97 Communications.
Not engaged in any discussions: Paytm issues clarification on report claiming Adani in talks to acquire stake in company
One97 Communications responds to speculation of Adani Group chairman Gautam Adani considering acquiring a stake in Paytm's parent company. The company clarifies that no discussions are ongoing, emphasizing compliance with SEBI regulations.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
Paytm Q4 losses tripled; Oyo IPO withdrawn
Troubled fintech Paytm reported its first quarterly earnings after the RBI banned its payments bank in January. This and more in today’s ETtech Top 5.
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.
Magazines can offer subscriptions on ONDC
Advertising-as-a-service to start in June-July; India Post in advanced stages of integration as logistics service provider
Is ONDC’s gamble paying off?
The ambitious project has gained visible traction through the past year. But what are the challenges that must be addressed before it truly democratises web commerce?
ONDC apps flag Pai Platforms’ Bitsila acquisition
Pai Platforms, which was earlier Paytm E-commerce, is already one of the largest buyer apps on ONDC, and Bitsila's acquisition will give it a significant presence on the seller apps side as well. ONDC and sources at Pai Platforms, however, said there was no reason for the concerns raised by the seller network participants.
ED begins Paytm probe; Tata's Neu Uber partnership
Officials from Paytm Payments Bank were summoned by the Directorate of Enforcement (ED) for interrogation earlier this week, sources have revealed, as part of an investigation into alleged breaches of the Foreign Exchange Management Act (Fema) by entities using its services.
Paytm E-commerce renamed as Pai Platforms, acquires ONDC seller firm Bitsila
Paytm E-commerce has changed its name to Pai Platforms and has acquired Bitsila, a seller platform on ONDC, gaining share in the online retail business.
Technical Breakout: Paytm, Nykaa, 7 other mid cap stocks surpass 20-day SMA
These large-cap stocks, having crossed their 100-day SMA on September 5, 2023, stand as robust performers in the stock market.
Paytm E-commerce partners with NCCF, ONDC to sell tomatoes at Rs 70/kg in Delhi-NCR
This move will benefit the users as retail prices of tomatoes in some cities have crossed Rs 200 per kg, the statement said. The company spokesperson said, "The rising prices of a kitchen essential like tomato has been affecting many across the country. With this collaboration between NCCF and ONDC, our users in Delhi-NCR can now easily get tomatoes at affordable prices."
With new-age tech stocks grabbing eyeballs, here’s how MFs placed their bets
While mutual funds marginally reduced their holdings in One97 Communications and PB Fintech, money managers have overall held a positive view on both the stocks. Last month, barring Delhivery, all other stocks gave double-digit returns to investors.
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