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The food delivery industry in India is all set to grow rapidly in the medium term driven by intensifying internet penetration, rising consumption and growth in urbanization.
Reliance Industries (Rs 190 cr), ICICI Bank (Rs 149 cr) and TCS (Rs 107 cr) were SBI Life’s large additions in March. The stocks it trimmed stakes to included Sun Pharma (Rs 141 cr) and Bajaj Finserv (Rs 101 cr).
Paytm said its focus over the past few quarters continued to be on payment volumes that generate profitability, either through net payments margin or from direct upsell potential. GMV for the March quarter stood at Rs 3.62 lakh crore ($44 billion), up 40 per cent.
Pre-listing shareholders' lock-in will open for 33 companies in April-July, creating further volatility, while IPO fund raising almost halved to Rs 52,116 crore in FY23
Paytm shares stood at Rs 630 apiece, up 1.4 per cent. Morgan Stanley's price target suggests a 10 per cent potential upside for the stock.