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YES Bank's Q4 FY24 Highlights: Net profit soared by 123% Y-o-Y to ₹452 crore, surpassing expectations. NIM held steady at 2.4%, with strong growth in non-interest income and robust improvements in asset quality.
One 97 Communications confirmed that it has terminated 'nearly all agreements' between the company and Paytm Payments Banks.
Sanjiv Bhasin, Director of IIFL Securities, advises investing in PSUs, OMCs, insurance companies, and largecaps like Reliance and HDFC Bank. He also suggests considering stocks like Vedanta, Hindustan Copper, Devyani, HDFC Life, and Asian Paints for potential returns. Bhasin says: "We remain in a bull market but fundamentally and technically, we have reached a peak from where we can see some consolidation/correction. '
This comes as payment aggregator Paytm finds itself at the receiving end to non-compliance and supervisory concerns, as per RBI.
Paytm Share Price: Vijay Shekhar Sharma's resignation as the part-time non-executive chairman and board member at Paytm Payments Bank did not cut much ice with the investors who preferred to sell shares in hordes. Around 10 am, nearly 42.78 lakh shares were trading on the NSE.