One 97 Communications Ltd (PAYTM)

Paytm Partners with Axis Bank for POS Solutions - 23 Jul, 2024

One97 Communications' revenue forecast has been reduced by 17%, while Paytm announces a partnership with Axis Bank to offer POS solutions and EDC devices to its merchant network.

Paytm Shares Drop After Weak Q1 Results - 22 Jul, 2024

One97 Communications, parent company of fintech player Paytm, reported a net loss of Rs 839 crore in Q1FY25, with revenue down 36% YoY. Jefferies has maintained hold rating for Paytm with a target price of Rs 420 per share, while Macquarie has maintained an underperform rating with a target price of Rs 325 per share. The lack of adequate skills in online selling and increase in online fraud are flagged as significant emerging challenges in the growth of the e-commerce sector.

One 97 Communications Q1 Results Decline - 20 Jul, 2024

One 97 Communications reported a decline in Q1 revenue by 35.87% YoY and an increase in loss by 134.99%. The EPS is ₹-13 for Q1, which decreased by 116.67% YoY. One 97 Communications has delivered -4.68% return in the last 1 week, -40.97% return in the last 6 months, and -29.92% YTD return. As of 20 Jul, 2024, out of 16 analysts covering the company, 3 analysts have given Strong Sell rating, 4 analysts have given Sell rating, 5 analysts have given Hold rating, 2 analysts have given Buy rating & 2 analysts have given Strong Buy rating. The consensus recommendation as on 20 Jul, 2024 was to Hold.

Paytm Reports Losses, Plans Cost Reductions - 19 Jul, 2024

One97 Communications, the parent company of Paytm, reports a consolidated loss of Rs 840.1 crore for Q1FY25 with revenue declining to Rs 1,502 crore. The firm plans to reduce employee costs by Rs 500 crore and reactivate dormant merchants while focusing on longer tenure personal loans and merchant loans. Additionally, Paytm received a show-cause notice from SEBI over stock options granted to its founder and CEO in FY22.

Paytm Backs Venture Capital Fund and Expresses Interest in Funding Start-Up Idea - 18 Jul, 2024

One 97 Communications Ltd's subsidiary, Paytm, has backed the Rs 1,000-crore venture capital fund PROMAFT Partners and expressed interest in funding a start-up idea that involves providing food and water for stray dogs. Additionally, FlixBus has entered into a strategic partnership with Paytm.

SEBI Issues Warning Letter to One 97 Communications Over Related Party Transactions; Paytm Announces New Health Insurance Plan - 17 Jul, 2024

One 97 Communications has received an administrative warning letter from SEBI over related party transactions with Paytm Payments Banks. Meanwhile, Paytm has announced a new health insurance plan that covers routine healthcare expenses and offers discounts on medical products and tests.

Paytm Receives Warning from SEBI Over Transactions with PPBL - 16 Jul, 2024

One 97 Communications Ltd, parent company of Paytm, received an administrative warning from SEBI over related-party transactions with Paytm Payments Bank in FY22. Paytm assures stakeholders that this warning will not affect its financial or operational activities. Additionally, Paytm's stock has been excluded from collateral eligibility for margin funding by the National Stock Exchange starting August 1, 2024.

SoftBank Exits Paytm Parent Company - 13 Jul, 2024

SoftBank has sold its remaining 1.4% stake in Paytm's parent company, One97 Communications, resulting in a loss of around $150 million. The Japanese investor had initially acquired an 18.5% holding during the company's IPO in 2021 and gradually divested shares since November 2022. Meanwhile, Treeline and UBS Principal Capital Asia expanded their shareholding in Paytm to 1.18% and 1.08%, respectively.

Mixed Bag for Paytm Shareholders - 12 Jul, 2024

One 97 Communications saw an increase in Akash Bhansali's holding and domestic mutual funds' shareholding, but foreign direct investments fell by 2%. Additionally, Paytm was removed from the NSE's list of securities eligible as collateral for margin funding.

One97 Communications Stock Rises Over 3.75% - 11 Jul, 2024

Shares of One97 Communications, the parent company of Paytm, rose over 3.75% on BSE after an employment dispute with an employee was resolved by the Ministry of Labour & Employment.

Paytm Faces Setback Amidst Layoffs and Allegations - 10 Jul, 2024

One97 Communications, the parent firm of Paytm, faces allegations of forced employee terminations while accounting for almost half of all layoffs in H1 2024. Additionally, Paytm received a setback due to the Reserve Bank of India's clampdown on its payment bank arm.

Paytm Stock Faces Ups and Downs Amidst Growth Trajectory - 09 Jul, 2024

Despite slower revenue growth, Paytm's recent strategic initiatives reflect commitment to stakeholder welfare amidst discussions of divesting events and movie ticketing business to Zomato. The company has secured approval to invest $6 million in subsidiary Paytm Payment Services. However, it faces regulatory setbacks and may announce more layoffs as it struggles to deal with losses.

Paytm Shares Surge After CEO Announces Ambition to Build $100 Billion Company - 08 Jul, 2024

Paytm parent One97 Communications' shares surge as Paytm's UPI business shows early signs of recovery and Vijay Shekhar Sharma announces his ambition to build a $100 billion company.

One 97 Communications Reports Fall in Revenue and Widened Losses - 07 Jul, 2024

Paytm parent company One 97 Communications reported a fall in revenue to Rs. 2,399 crore and widened losses to Rs. 551 crore largely due to writing off its investment in the troubled Paytm Payments Bank.

Paytm Founder Sets Ambitious Goal for Company Value - 06 Jul, 2024

Vijay Shekhar Sharma, the founder and CEO of One 97 Communications Ltd (Paytm), has set an ambitious goal to elevate the company's value to $100 billion despite recent regulatory setbacks. The fintech firm managed to avoid any significant decline in revenue during Q4 FY24, even with the termination of Paytm Payments Bank Limited services.

Paytm in Talks to Transfer Entertainment Business to Zomato - 05 Jul, 2024

Paytm is considering transferring its entertainment business, a component of its marketing services, to Zomato. Discussions are preliminary, and Paytm's focus will remain on payment and financial services along with digital commerce.

Paytm Launches Health Plan for Merchants Amid Auditor Dispute - 03 Jul, 2024

One 97 Communications has launched Paytm Health Saathi, a healthcare and income protection plan for its merchant partners. Meanwhile, Paytm Payments Bank is reportedly in a dispute with its auditor over the certification of its accounts for FY24.

One97 Communications Reaffirms Commitment to Core Business Lines - 02 Jul, 2024

One97 Communications Ltd, the parent company of Paytm, has denied reports suggesting that it will avoid pursuing businesses requiring regulatory licenses. The firm has reaffirmed its commitment to building on its core regulated business lines of payments and financial services.

Paytm's Flight Bookings Grow 19% YoY in Q1 - 30 Jun, 2024

One97 Communications, the parent company of Paytm, has reported a 19% year-on-year growth in flight bookings for January-March, outpacing industry growth rates. The company's ticketing business operates on the Paytm Travel platform and is the second-largest online travel aggregator for train bookings. The growth has been driven by partnerships with global aggregators such as Skyscanner, Google Flights, and Wego. Paytm's travel ticket business falls within the marketing services vertical, which rose 1% year-on-year to Rs 395 crore in the March quarter.

Zomato in Talks to Acquire Paytm Insider - 28 Jun, 2024

Zomato is reportedly discussing the acquisition of Paytm's events and movie ticketing business, Paytm Insider, for an estimated Rs 1,500 crore. The deal could significantly boost Zomato's position in the market.