Wed, May 1, 2024 11:58 AM
Mastek stock rating: ‘Buy’ call retained on recovery hope
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Tencent Holdings repurchased 3.93 million Hong Kong-listed shares, the most in nearly two decades, after being added to a US blacklist for alleged links to the Chinese military, sparking a 7.3% stock drop. The $193 million buyback signals urgency to contain the fallout. Tencent shares fell 2% on Wednesday, despite mainland Chinese investors buying $1.4 billion worth of shares.
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Auto stocks have fallen nearly 10% in the last three months, with two-wheeler companies being the worst hit, due to slow growth and demand concerns. However, December sales numbers were better than expected, and the auto index has risen nearly 3% since the start of the year, with passenger vehicles and tractors projected to remain standouts in the third quarter.
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📌Paytm's parent company One97 Communications' shares fell📌 5.5% on January 8, with UBS citing no gain in UPI share in December, causing its market share to halve to📌 5.5% by year-end. Paytm's monthly transacting users also declined from 100 million to 68 million by September 2024. Paytm's shares are trading 📌4.8% lower at ₹936.35.
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