Mumbai: The shares of Paytm, Hyundai Motor India, Bharti Airtel, Reliance Infrastructure, Indus Towers, Zomato and other companies are expected to remain in news on October 23, 2024 (Wednesday).
Paytm share price
One97 Communications, the parent company of Paytm, recorded a net profit of Rs 928.3 crore in the Q2 of 2024-25, compared to a Rs 290.5 crore loss it reported in the second quarter of the previous financial year. The revenue from operations declined 34.1 per cent year.
“The company believes that the continued focus on payments and distribution of financial services will drive sustained, profitable growth. The same is reflected in its growing revenue for payments business of Rs 981 crore, up 9 per cent QoQ, and revenue from financial services at Rs 376 crore, up 34 per cent QoQ,” it said.
In a shot in the arm for Paytm, the National Payments Corporation of India (NPCI) has given the green signal to the online payment aggregator to onboard new UPI users.
Zomato share price
In its second quarter results of 2024-25, Zomato Ltd registered a consolidated net profit of Rs 176 crore, as compared to Rs 36 crore in the same quarter of 2023-24. The online food delivery platform’s consolidated revenue from operations stood at Rs 4,799 crore while total expenses were at Rs 4,783 crore in the quarter under review.
Zomato said its results for the quarter and half year ended September 30, 2024 are not comparable with other quarters and half year results due to the acquisition of Orbgen Technologies Private Ltd (OTPL’) and Wasteland Entertainment Pvt Ltd (WEPL) holding the ‘movies ticketing’ business and events business respectively from One 97 Communications Ltd (Paytm) in August this year.
Reliance Infrastructure share price
Reliance Infrastructure announced that it will pump in Rs 10,000 crore over the next ten years in setting up India’s largest integrated project in Ratnagiri in Maharashtra for the manufacturing of explosives, ammunition, and small arms.
“Dhirubhai Ambani Defence City (DADC) will be the largest greenfield project in the defence sector in India by any private sector company,” it said, adding “Reliance Infrastructure will invest over Rs 10,000 crore over the next 10 years through its subsidiaries has exported defence equipment worth more than Rs 1,000 crore over a period of time.”
Bharti Airtel & Indus Towers share price
Bharti Airtel has got the approval from the Competition Commission of India (CCI) to increase its stake in Indus Towers, following a buyback of shares by the telecom infrastructure company.
“The Commission approves an increase in the percentage shareholding of Bharti Airtel Ltd (Bharti Airtel) in Indus Towers Ltd (Indus Towers) to 50.005 per cent pursuant to buy back of shares by Indus Towers,” CCI said in a release.
Hyundai share price
A day after shares of Hyundai Motor India Ltd, made a muted market debut and ended more than 7 per cent lower at Rs 1,820.40 apiece, the stock of the Indian arm of South Korean automaker Hyundai, is expected to remain in focus today.
“Hyundai Motor India Ltd’s IPO listed at Rs 1,934, marking a 1.33 per cent loss against its issue price of Rs 1,960, which was largely in line with expectations.
“Despite the discounted listing, Hyundai Motor India’s strong fundamentals, being the second-largest passenger vehicle manufacturer in India and its strategic focus on the SUV segment, continue to support its long-term growth prospects,” Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, said.
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Stocks in news today: The share price of Paytm, Zomato, Reliance Infrastructure, Hyundai, Bharti Airtel, Indus Towers and others are expected to remain in focus on October 23, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
