Buy recommendations on One 97 Communications, the operator of Paytm, climbed to 4 this week, up from just 2 at the start of the year. Sell ratings remained unchanged at 3.
Paytm is struggling to convince investors and analysts alike of the potential for its business model. Losses widened to Rs 474 crore in the September quarter amid rising expenses.
The exercise refers to card information stored by payment gateway and merchants to process future transactions. RBI said the data shall be purged after 30 June 2022.
Morgan Stanley has started coverage on the digital payments startup with an overweight rating and a price target of Rs 1,875, which implies 43% upside from Tuesday’s close.
The stock dropped 5.6% to Rs 1,321 in Mumbai, extending this week’s losses to almost 16%. The stock is now down nearly 39% from its issue price of Rs 2,150.
Dolat Capital Market, third brokerage to initiate coverage on Paytm, says its transition to a 'manufacturer' of financial services from an agent will help the digital payments firm.
One97 Communications, the parent of the digital payments giant, ended last week 17% below its offer price of Rs 2,150, after falling to as low as Rs 1,271 at one point.
Ahead of the results Saturday, Paytm’s shares dropped as much as 7.7% in early trading Friday. The company's quarterly and half-yearly results will also be announced over the weekend.
Any sign that influential money managers like BlackRock are doubling down on Paytm may help ease concern about the sustainability of an Indian stock-market boom.
Lobbying from Indian-origin CEOs, especially when there is direct interface between the US and India at the political level, is neither desirable nor necessary.
ThePrint had previously reported that India & Russia are talking about 5 more regiments of the S-400, but no contracts are to be signed during the Russian president's visit.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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