Paytm share price rallied as company considers share buyback

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Markets decline as IT stocks came under selling pressure today after Credit Suisse Securities India warned of further correction in valuations. Investors keenly await the outcome of the US central banks decision on interest rate next week. US Feds statement on inflation and interest rate outlook will be closely watched.

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? Paytm share price rallied as company considers share buyback
The parent company of Paytm surged over 7 percent after the company said its board will consider a share buyback on December 13. “The management believes that given the company’s prevailing liquidity and financial position, a buyback may be beneficial for our shareholders,” Paytm added.

? Marico subsidiary enters into beauty segment through foreign acquisition
Marico South East Asia Corporation, a wholly owned subsidiary of the company, entered into a definitive agreement to acquire 100% shares of Beauty X Joint Stock Company (“Beauty X”), an entity incorporated in Vietnam which owns the personal care brands “Purité de Prôvence” and “Ôliv”.

? Yes Bank 
The private sector lender on December 9 said it has received two letters from the Reserve Bank of India pertaining to its deals with CA Basque Investments and Verventa Holdings Limited. Now, the bank plans to engage with the investors to complete its fund raising.

News from the IPO world?

• Snapdeal calls off IPO plans as tech stocks decline
• Three IPOs to hit dalal street to gather over Rs. 1800 crore
• Dharmaj Crop Guard settles with 12% gains on debut

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