• Home
  • Politics
  • Sports
  • Trending
  • Entertainment
  • Book Reviews
  • Login
  • Register
Clever Read.
Advertisement
ADVERTISEMENT
No Result
View All Result
  • Home
  • Politics
  • Sports
  • Trending
  • Entertainment
  • Book Reviews
No Result
View All Result
Clever Read.
No Result
View All Result
Home Business

Paytm shares fell 9% as Alibaba sold a 3% stake in a large block deal

Clever Read by Clever Read
January 13, 2023
in Business
0
14
SHARES
283
VIEWS

Paytm shares fell 9% as Alibaba sold a 3% stake in a large block deal

Paytm Slips 6% Over Vijay Shekhar Sharma
New-age fintech One97 Communications NSE 1.76 % Shares of Paytm-running new-age fintech One97 Communications fell as much as 8.82% to Rs 528.35 today after China’s Alibaba Group sold a 3.1% stake in a block deal.
Alibaba, which held a 6.26% stake in Paytm at the end of September, sold a 3.1% stake in the company for a total of $125 million through a block deal at a price of Rs 536.95 per share, Reuters reported.
Last month Rs. Shares of Paytm, which announced an 850-crore share buyback plan, are trading below its IPO issue price of Rs. 2,150 has fallen about 74.5% so far.
The stock was the worst performer in the calendar year 2022. The average target price of 11 analysts, 8 of whom have ‘buy’ ratings, however, indicates upside potential of about 66%, Trendlyne data shows.
In a recent report, fintech will be a key beneficiary of India’s Rs 2600 crore UPI incentive program to promote RuPay debit cards and low-value BHIM-UPI transactions (P2M) for FY23, brokerage firm Morgan Stanley said.

“Apart from banks, Paytm should be the main beneficiary of the above. As per our estimate, Paytm would have received 5-7% of FY22 incentives, and assuming a similar share for FY23, this would add 3-5% to our contribution margin estimate (1% more than our pre-FY23 estimate). more) ,” the brokerage said.
Earlier in the month, the fintech company had reported in its quarterly update that the total value of loan disbursements grew 357% year-on-year to Rs 9,958 crore in the December quarter.

Paytm said “loans grew 117% year-on-year to 37 lakh and 137% year-on-year to 1050 lakh total loans in the three months ended December 2022.” The average number of monthly transaction users or MTUs was 850 lakh, registering a growth of 32% year-on-year.

“Alibaba’s sale of stake in Paytm could be good news for shareholders as it reflects declining Chinese stake in the company. It will benefit them in FDI and further ease investors’ concerns as the company is already heading towards profitability,” Avinash said. Gorakshakar, Chief Research Officer, Profitmart Securities said.
“Alibaba seems to be in the process of exiting India as it has sold stakes in key investments like BigBasket, Zomato and Paytm. This is positive for shareholders as it clears many regulatory hurdles. In Paytm’s case, the company has been delivering good business updates on pace of profitability,” he said.

Previous Post

Excerpts with Neelam Afroz, author of what i felt…(Clever Fox Publishing)

Next Post

Makara Sankranti 2023: Wishes and Quotes to share with your loved ones

Clever Read

Clever Read

Related Posts

Technology & Media

Video: Anand Mahindra Impressed By This Unique Inflatable T-Shirt For Kids

by Clever Read
May 26, 2023
Business

Consumers Cite High Cost, Slow Service as Challenges to Get ACs Fixed by Brands; 55% Use Local Vendors: Survey

by Clever Read
May 23, 2023
Business

Amazon Founder Jeff Bezos Engaged To Girlfriend Lauren Sanchez: Report

by Clever Read
May 23, 2023
education

ED seizes Rs 8.26 cr of online edu firm

by Clever Read
May 20, 2023
Business

Supreme Court Panel’s Clean Chit To Adani Group: Prima Facie No Violation

by Clever Read
May 19, 2023
Next Post

Makara Sankranti 2023: Wishes and Quotes to share with your loved ones

ADVERTISEMENT

Premium Content

PM Modi Vietnamese counterpart discuss expanding cooperation in trade and investment defence technology

May 20, 2023
Elon Musk Looks to Exit his Twitter Takeover Deal – So What Now?

Elon Musk Looks to Exit his Twitter Takeover Deal – So What Now?

July 11, 2022

Is It Demonetisation 2.0? Here’s All You Need To Know About Withdrawal Of Rs 2,000 Notes

May 20, 2023

Browse by Category

  • Astrology
  • Authors Interview
  • Book Fair
  • book launch events
  • Book Reviews
  • Business
  • Cooking
  • crime
  • defense
  • education
  • Entertainment
  • Fashion
  • Food
  • Health
  • Lifestyle
  • Parenting & Children
  • Politics
  • pr
  • Self Help
  • self publishing
  • Social media trends
  • Sports
  • Technology & Media
  • Travel
  • Trending
  • World

Browse by Tags

army Arpita Mukherjee Arvind Kejriwal BJP Chatterjee Congress covid Draupadi Murmu Google News Gotabaya Rajapaksa House India India News india news today Japan Joe Biden Khalistan Tiger Force Lok Sabha Mexico Murmu myanmar Narendra Modi NIA Nupur Sharma Oppose Parliament Partha Chatterjee Rahul Gandhi Rajya Sabha Ram Nathi Ranil Wickremesinghe rape Sri Lanka teen the path of fire The Tim Ferris Show TMC to arrest today's fresh news Today's news Uddhav Thackeray ukraine United Nations Yashwant Sinha yoshihiko isozakio
World

Nepal PM Prachanda to embark on 4-day official visit to India on May 31

by Clever Read
May 27, 2023
0

Nepal PM Prachanda to embark on 4-day official visit to India on May 31 Kathmandu, May 27 (PTI) Nepali Prime...

Read more

Will not make ‘Stree 2’ under pressure: Rajkummar Rao

May 27, 2023

Mamata Banerjee apologises to people for blast in illegal firecracker factory in Egra

May 27, 2023

Vicky Kaushal On Being Pushed By Salman Khan’s Security: “There Is No Point In Talking About That”

May 27, 2023

7 Chief Ministers Skip NITI Aayog Meeting Chaired By PM Modi

May 27, 2023
Clever Read

Get the latest information on news, trending topics, books, and social media trending reels.

© 2022 Cleverread - Clever Fox Publishing.

No Result
View All Result
  • Home
  • Books
    • Book Reviews
    • Trending
    • Astrology
    • Business
    • Fiction & Literature
    • Parenting & Children
    • Self Help
    • Cooking
  • Entertainment
  • Social Media Trends
  • PR
  • Interviews
  • News
  • Contact us
  • About us

© 2022 Cleverread - Clever Fox Publishing.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?