Paytm rallies for the second trading session

The Markets Today in a nutshell

• Domestic benchmark indices ended negative, breaking their eight-day rising streak.
• The Sensex and the Nifty after hitting record high in the previous trading session tumbled. Negative global cues triggered profit selling in domestic shares. Markets seems to have paused and likely to take cues of next week from RBI’s policy meeting. Also, investors would keenly watch for outcome of Gujarat state election that is due next week.

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News you could use

? Maruti Suzuki share price fell after announcement of plan to hike prices
Maruti Suzuki India fell 1.58%. The company announced today that it plans to hike prices of its vehicles in January 2023. The hike shall vary across models. Separately, Maruti Suzuki said that its total vehicle production rose 4.96% year-on-year to 152,786 units in November 2022.

? Bajaj Hindusthan Sugar share hit the upper circuit clearing overdues towards term loan
Bajaj Hindusthan Sugar hit an upper circuit limit of 20% after the company said that it has settled entire overdues towards term loan installments till September 2022. The sugar manufacturer has also cleared term loan interests till November 2022 and optionally convertible debentures (OCD) coupon, payable for FY 2022 to all the lenders.

? One 97 Communications (Paytm) rallies for the second trading session
One 97 Communications (Paytm) jumped 7.06% to Rs 536.90, extending gains for the second trading session. The stock hit has jumped over 22% from its record low of Rs 439.60 hit on 24 November 2022.
Paytm on Thursday informed that at present it makes net payment margin of 7 to 9 bps of GMV on processing. Of which UPI gives us 3 to 4 bps and other instruments give 15 to 18 bps. Since UPI is growing faster than other instruments, it expects blended margin to stabilize at 5 to 7 bps. 

News from the IPO world?

• Tata Play becomes first firm to file confidential papers with Sebi for IPO
• Uniparts India IPO subscribed 23 times on the last day of the IPO.
• Signature Global gets SEBI nod for its Rs. 1,000 crore proposed IPO

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