Mobile payments firm Paytm's UPI market share dropped to 11 percent in February compared to the 11.8 percent the company had in January before the payments bank crisis started, Moneycontrol has learned from a couple of banking sources aware of the matter. Less than a year ago, Paytm had a 13.3 percent market share, which has been gradually decreasing over the last nine months.
Open FlipShares of Paytm fell 3 percent in morning deals on March 4 amid reports that with less than two weeks to go for Paytm Payments Bank Limited (PPBL) to cease operations, the Reserve Bank of India (RBI) may take the unprecedented step of revoking its banking licence. If the RBI ends up revoking PPBL's licence, it would be the first time in over two decades that the banking regulator.
Open FlipGold And Silver Prices Today: Gold prices witnessed a slight decrease on Monday. The price of 24 carat gold is Rs.6432.4 per gm, down by Rs.502.0. The price of 22 carat gold is Rs.5892.1 per gm, down by Rs.460.0.The price change in 24 carat gold over the last week has been -1.14%, while in the last month it has seen a 0.13% increase.The cost of silver is Rs.73500.0 per kg, down by Rs.1000.0 per kg
Open FlipBulls retained their reign on Dalal Street for the third week in a row, continuing with a higher-high formation, charging the benchmark Nifty 50 to a historic high of 22,420. The index found support in the 10-week exponential moving average to end with 0.75 percent gains at a new closing high of 22,378 for the week ended March 2. Experts expect the momentum to sustain in the coming weeks.
Open FlipThe government has expanded the list of commodities permitted for derivatives trading to include weather, cement, and skimmed milk powder, according to a notification. As per the notification issued by the Ministry of Finance's Department of Economic Affairs on March 1, the Centre said it was expanding the list of commodities in consultation with the Securities and Exchange Board of India.
Open FlipHospitals are not opposed to the Supreme Court’s February 27 order to implement the provisions of the Clinical Establishments Act, 2010, which requires the central and state governments to determine treatment rates for hospitals across the country, depending on locations, facilities, specialties and so on. However, what is needed is a scientific costing study, which has never been done in India.
Open FlipAdani Green Energy is planning to raise funds through U.S. dollar-denominated 18-year bonds, and has provided initial guidance of raising $409 million for a coupon of around 7.1250%, two bankers said on Monday. This will be the Adani group's first dollar-denominated bond issue after a report by U.S. short-seller Hindenburg Research in January 2023 led to a sell-off in stocks and overseas-listed.
Open FlipSanghnomics is a weekly column that tracks down and demystifies the economic world view of the Rashtriya Swayamsevak Sangh (RSS) and organisations inspired by its ideology. Deendayal Research Institution (DRI), a non-governmental organisation founded by Bharat Ratna Nananji Deshmukh, who was a full-time worker (Pracharak) of the Rashtriya Swayamsevak Sangh(RSS), has been working to implement.
Open FlipUnion minister Nitin Gadkari said there is a need to make ‘smart villages’ along with smart cities to ensure a well-rounded development of the country. The Union minister said, “I am turning Bela village, 30km from Nagpur, into a smart village. If this experiment succeeds, then we can replicate it everywhere.
Open FlipJapan’s Nikkei hit another high to breach the 40,000 level for the first time on March 4, with technology stocks giving the blue-chip index the biggest boost. The Japanese market's record run is being powered by sustained gains in chipmaking and chip-adjacent stocks on expectations that artificial intelligence (AI) will drive a demand boom in the coming months.
Open FlipMorgan Stanley has put an 'overweight' tag on Hindustan Aeronautics Ltd (HAL) after the company cinched a Rs 5,250-crore contract from the defense ministry. The international brokerage has set the target price at Rs 3,129 per share, indicating a 0.8 percent downside from the last closing price of Rs 3,155. The contract is for the procurement, manufacture, and supply of aero-engines for MiG-29.
Open Flip"I’ve always believed in living in the present and focusing on the future. What’s in the past, is in the past. So, it’s time to shift our focus to the journey ahead," Goenka said in an interview. He added, "I have committed publicly to my shareholders that in FY26, I will deliver an 18-20% EBITDA margin, which should roughly translate to over ₹2,000 crore of EBITDA on a cash basis".
Open FlipGlobal brokerage firm HSBC shared a 'buy' rating on HDFC Bank with a target price of Rs 1,750 per share, implying an upside of 22 percent from the current levels. The positive call stems from the prospect of the stock offering returns in 15-29 percent compounded annual growth rate (CAGR) over FY24-27, said analysts. The HDFC Bank stock has lost over 16 percent so far this year.
Open FlipShares of Godrej Properties Limited traded 3.5 percent higher on March 4 morning after the company announced it has entered definitive agreements to develop a township project on a 62-acre land parcel in North Bengaluru. "While an agreement for sale for land, including this 62 acre, was entered into by the company in 2014, the development wasn't able to commence at the time.
Open FlipThe probe into the blast at a cafe in Bengaluru has been handed over to the National Investigation Agency (NIA), sources said on Monday. At least nine people were injured when a blast took place at Rameshwaram Cafe in Brookfield in East Bengaluru on March 1. According to the sources, the investigation into the explosion has been handed over to the NIA.
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