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The sharper focus on the post-listing financials of startups has tempered the exuberance while forcing companies to shift focus from gross merchandise value to unit economics and profitability.
Paytm shares were up 1.91 per cent in Monday's trade. The stock hit a 52-week high of Rs 998.30 on October 20. Macquarie said higher-than-expected losses in the medium term be a downside risk.
In a presentation, One97 Communications (Paytm) announced that it is going to cut back on loan distribution for small-ticket 'postpaid' loans as a prudential measure. This decision follows the Reserve Bank of India's (RBI's) recent tightening of regulations, raising risk weights on unsecured loans. This particular segment accounts for about 55 per cent of quarterly disbursements and was growing at 120 per cent year-on-year in the second quarter (Q2) of 2023-24 (FY24). Paytm will now focus on big-ticket personal loans.
According to Nuvama's estimates the addition of the above stocks is likely to result in combined passive inflows of $567 million. In Jindal's case, it is the highest and estimated at $149 million, followed by $142 million in PNB and $138 million each in BHEL and Oberoi
In the largecap segment, 15 companies witnessed significant block deals on the screen which were worth Rs 12,612 crore led by Reliance Industries (RIL) with a 12 block count, totalling to Rs 2,874 crore. The next in line were Bharti Airtel (Rs 1,769 crore), HDFC Bank (Rs 1,757 crore), Zomato (Rs 1,208 crore), Adani Total Gas (Rs 1,019 crore), Tube Investments (Rs 944 crore), ICICI Prudential (Rs 705 crore) and ICICI Bank (Rs 589 crore).