BENGALURU – Zomato is the most-valuable internet stock in Asia’s third-largest economy, with a market capitalisation of more than 1.51 trillion rupees ($18 billion). On Friday, its shares rose nearly 5% to 173.5 rupees. India’s several new-age internet companies that hit the markets during the IPO frenzy in 2021 jumped after listing but slumped eventually … Read more
Notwithstanding the spate of positive news flow that has taken Paytm shares 10% higher in two days, global brokerage Jefferies temporarily suspended the coverage on the fintech stock but stopped short of stopping coverage. Stating that the valuation could vary on the basis of merchant/user attrition to the tune of 10-30% and a hit to … Read more
Brokerage firm Nuvama remains positive on Quess Corp, Morgan Stanley recommended an Equal Weight rating on PB Fintech, and Citigroup has a sell rating on Paytm. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Nuvama on Quess Corp: Target Rs 630 Nuvama sees limited downside in Quess … Read more
Shares of troubled fintech One 97 Communications, which runs Paytm, fell another 2% on Friday to hit a fresh record low of Rs 318.05 on NSE. So far in the week, the stock has lost about 24% of its market value. Ever since the RBI diktat banning Paytm Payments Bank from February 29 was issued, … Read more
Shares of the crisis-ridden One 97 Communications, which runs Paytm, was back on the losing road on Thursday as the two-day ‘buy the dip’ rally fizzled out, taking the stock back to 10% lower circuit limit at Rs 447 on BSE. Fresh comments from RBI officials that the action against Paytm was taken after persistent … Read more
“I do not see a big market share attrition either, just given that the way the market is structured and therefore, I find this to be attractive valuation,” says Pranav Gundlapalle, Sr Research Analyst, Sanford C Bernstein. Let me first actually quote a line that has come in in your particular note where you have … Read more
“We do expect that this rally can extend further. It is not a one-day rally and as we have already marked a new all-time high, overall if we analyse the structure, the short covering action was clearly there,” says Rajesh Palviya, Axis Securities. Let us talk about that record high rally that we saw on … Read more
Mumbai: Shares of One97 Communications, the parent of digital payments firm Paytm, plunged 20% Thursday – the lowest tradable limit of the day – even as analysts downgraded the stock after the Reserve Bank of India directed subsidiary Paytm Payments Bank to stop offering its key services after February 29. The stock closed at ₹608.80 … Read more
Brokerage firm Jefferies maintained a buy call on ICICI Bank post-Q3 results, a hold rating on Kotak Mahindra Bank, and a buy rating on Paytm. CLSA downgraded Zee Entertainment to sell from a buy earlier. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on ICICI Bank: … Read more
Fintech major One97 Communications which runs the payments platform Paytm is expected to report a narrowing of losses and healthy revenue growth when it releases its Q3 results later today. Paytm should see strong GMV growth led by the festive season and partial impact of lending business rejig after RBI measures, Jefferies said. The brokerage … Read more
