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It has been just over a year since India's mobile payments and Quick Response (QR) pioneer <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> made its debut on the stock market and the company has made quite an impression. The initial public offering (IPO), which was the largest in the country's history, drew attention from investors far and wide. Paytm's impressive growth has sparked the interest of savvy investors, both retail and institutional, who are clamouring to add more Paytm stock to their portfolios.<br /><br />As the fintech firm continues to make significant strides towards achieving operating profitability, investors' belief in the Paytm story and the company's long-term potential for success has grown stronger than ever.<br /><br />The company's latest shareholding pattern for the quarter that ended December shows that mutual funds increased their stake by 0.47 per cent to 1.73 per cent. Two new mutual funds entered the stock, taking the total mutual fund shareholders in Paytm from 19 to 21 in the December quarter. Meanwhile, more retail investors have also jumped on board, with their shareholding increasing by 3 per cent to 9.7 per cent. Over 70,000 new investors were added during the quarter, bringing the total number of retail shareholders to around 12 lakh.<br /><br />These developments are a clear indication that more Indians believe in Paytm's ability to deliver profitability without compromising on growth. The increase in domestic investors' shareholding is a vote of confidence in the company's future prospects.<br /><br />Global investment firm <keyword id="6361649" type="General" weightage="50" keywordseo="goldman-sachs" source="Orion">Goldman Sachs</keyword> expects Paytm to be adjusted earnings before interest, taxes, depreciation, and amortisation (Ebitda) positive by the March quarter, two quarters ahead of the estimates and the company's guidance of September 2023. Goldman Sachs has reiterated its 'Buy' rating for Paytm and has upwardly revised its share price target to Rs 1,120. The firm has stated that the current share price continues to offer a compelling entry point into India's largest and one of the fastest-growing fintech platforms.<br /><br />The increase in shareholding by domestic investors is also a positive sign for the Indian economy, as it shows that more and more Indians are investing in the country's rapidly growing fintech sector. An increase in retail shareholding can bring a number of benefits for a company. One of the most significant benefits is increased liquidity, which can help to stabilise the stock price and improve overall market sentiment. Retail shareholders also tend to have a long-term investment horizon and may be more likely to hold on to their shares, making the company more attractive to investors.<br /><br />The overall <keyword id="44528" type="General" weightage="50" keywordseo="fdi" source="Orion">FDI</keyword> shareholding in Paytm has declined from 71.49 per cent to 66.12 per cent, mainly because of SoftBank offloading a 4.53 per cent stake. The Japanese conglomerate, through its <keyword id="4031888" type="General" weightage="50" keywordseo="vision-fund" source="Orion">Vision Fund</keyword>, continues to own 12.92 per cent of Paytm. Meanwhile, foreign portfolio investors (FPI) holding in the company has gone up by 0.91 per cent to 6.68 per cent. The number of FPIs holding the Paytm stock has increased from 88 to 128 in the third quarter, representing a net addition of 40 investors. <br /><br />As a pioneer in India's fintech revolution, Paytm has been at the forefront of the country's technology-driven shift towards a cashless economy. The <keyword id="13945656" type="General" weightage="50" keywordseo="paytm-super-app" source="Orion">Paytm Super App</keyword> has become a household name that is synonymous with convenience and ease of use.<br /><br />Paytm is expected to post another strong quarter when it announces Q3 (third quarter) results. Meanwhile, its Q3 operating performance update shows strong growth in monthly transacting users, loan disbursals and devices deployed. According to data available, eight out of 12 analysts tracking the company have a 'buy' rating. Paytm is also included in Goldman Sachs' Asia (ex-Japan) 'Conviction List' of stocks that have a high potential for returns and are rated as 'buy'. <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s23-series-to-launch-soon-launch-date-expected-price-and-features/articleshow/97243146.cms">Samsung Galaxy S23 series to launch soon – launch date, expected price and features</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/b20-has-important-role-to-play-can-be-value-adding-for-world-says-n-chandrasekaran/articleshow/97244919.cms">B20 has important role to play; can be value adding for world, says N Chandrasekaran</a></strong><br />

Mutual funds increase their stake in Paytm

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<br /> <keyword id="6357120" type="COMPANY" weightage="20" keywordseo="PayTM">Paytm</keyword> is registering massive growth across <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> within hours of Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> announcing his plans towards discontinuation of higher denomination notes of INR 500 and INR 1000. The Paytm platform saw an overwhelming 435% increase in overall traffic as millions of consumers across the country have taken to using their Paytm Wallets to transact offline.<br />
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The company has registered a 200% hike in a number of app downloads and 250% surge in the number of overall transactions and transaction value. The number of Saved Cards also grew by 30%, pointing to a strong set of repeat customers the platform has now acquired. The company has noted 1000% growth in money added to the wallet and 400% growth in the transaction value of offline payments.<br />
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From Brick-and-mortar merchants and other Online-to-Offline sectors, Paytm can easily integrate its fast, secure and convenient payment solution into them. <br />
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<a href="http://www.businessinsider.in/How-Paytms-Vijay-Shekhar-Sharma-is-dealing-with-the-air-pollution-in-Delhi/articleshow/55311298.cms">Paytm</a> users can pay virtually anyone who has a smartphone just by <a href="http://www.businessinsider.in/Redefining-the-concept-of-tea-breaks-for-corporates/articleshow/55095324.cms">scanning their QR code or entering their mobile number in the Paytm app. Paytm Cash can be used to pay for local taxi/autos fares, paying at petrol pumps, grocery outlets, restaurants and coffee shops, </a>multiplexes, local tea/vegetable vendors or other service providers who prefer Paytm because of its seamless payment solutions.<br />
The platform also allows users to do online recharges and bill payments, book movie tickets, do travel bookings and shop for products online among others.

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	<a href="http://www.businessinsider.in/Who-won-the-festive-season-sale-war-between-Flipkart-and-Amazon/articleshow/55306881.cms">ALSO READ: Who won the festive season sale war between Flipkart and Amazon?</a><br />
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	Paytm is planning the next chapter in the evolution of the country’s app ecosystem with the Paytm Super app.<br />
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	With the current user base of more than 150 million, Paytm is on a mission to bring half a billion Indians to the mainstream of the economy using mobile payment, commerce and soon to be launched payment banking services.<br />
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Paytm sees over 435% increase in traffic since yesterday

<ul><li>Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>.</li><li>Part of the sell-off in <keyword id="4326962" type="General" weightage="20" keywordseo="paytm-shares" source="Orion">Paytm shares</keyword> could also be a reflection of the market mood.</li><li>But, there is a lot more that the street is worried about.</li><li>Founder <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword> wants the market to be excited about Paytm as a superapp but many others have argued that a smartphone itself is a super app.</li><li>Check out the latest news and updates on<a href="https://www.businessinsider.in/stock-market"> Business Insider</a>.</li></ul>Two of India’s most-awaited tech IPOs, that of Zomato and Paytm, came with a lot of anxiety around the price at which the shares were being sold to the first lot of public investors. Zomato still made some money for those who got the shares in the initial public offering (IPO) but those who got shares in the Paytm IPO have lost 27% on the opening day. <br /><br />By noon, Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant Paytm. The overall market mood played a role in pushing down Paytm’s share price, Deven Choksey, managing director of KR Choksey Shares and Securities, told Business Insider. The sell-off seen earlier in the week intensified on Thursday (the day of Paytm’s market Debut) and 42 out of the Nifty 50 stocks were in the red. But that’s not the only reason why people sold Paytm shares. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation pre-IPO<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valution sought in IPO</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap, as on November 18<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.8 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.1 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,21,731 crore ($16.3 billion)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$19.9 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,01,399 crore ($13.6 billion)<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Companies, BSE<br /><br />It’s not that Paytm's advisors didn't see it coming. According to a Bloomberg report <a href="https://www.businessinsider.in/business/news/paytm-may-drop-its-pre-ipo-sale-as-advisors-recommend-lower-valuation/articleshow/87187525.cms">published in October</a>, Paytm was advised to go for a lower valuation than $20 billion in its pre-IPO round but the company decided to skip the round altogether. Even stock brokerage firm Macquarie had given Paytm a with an underperform rating, and projected that the stock may fall to as much as ₹1,200 (compared to an issue price of ₹2,150) any time in the next one year .<br /><br />Interestingly, Paytm was the highest valued Indian startup between 2019 to me this year. The company got a valuation of $19.9 billion in its public issue. The only smile that Paytm believers could steal was thanks to the meme fest on Twitter.<br /><br />                          <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778007" hostid="261"></div><br />The drop in Paytm’s share price led to a fall of the stock market. “Today’s fall in the market is also largely due to collateral damage, Paytm loss to investors,” Deven Choksey, managing director of KRChoksey Shares and Securities said.<br /><br />Manoj Dalmia, founder and director of Proficient Equities Private Limited also highlighted three reasons behind Paytm’s weak listing on the stock exchange. The issue ranges from high valuation to intense competition.<br /><br />These are some of the issues pointed out by Manoj Dalmia of Proficient Equities, Scenes by Avalon’s Shashank Udupa, TaxationHelp.in’s Neha Nagar<br /><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reason<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overvaluation <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The company is overvalued at a Price to Sales (P/S) value of 26 compared to its global peers, who have a P/S of 0.3-0.5<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Limited promoters in India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nearly 75% of the promoters of Paytm are from other countries and are selling shares worth ₹10,000 crore, which is more than 50% of the issue.<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not a market leader<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm is not a market leader in any business it operates in.<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Analyst rating<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falling grey market premium and Macquarie's downrating has pushed the stock into a downward momentum. <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lack of focused business model<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">It is present in all over the Fintech space but not doing well in any of them while the competition is rising from players like Google, Amazon, PhonePe. <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Dalmia is not alone in his pessimism around Paytm’s near-term prospects. “Dabbling in multiple business lines inhibits PayTM from being a category leader in any business except wallets, which are becoming inconsequential with the meteoric rise in UPI payments. Competition and regulation will drive down unit economics and/or growth prospects in the medium term in our view,” Macquarie Research analysts Suresh Ganapathy and Param Subramanian said. <br /><br /><strong>ALSO WATCH: Even the biggest of conglomerates find it difficult to do more than two things right, market expert Saurabh Mukherjea told Business Insider. <br /></strong><br />                            <div type="Youtube" id="kSf5f3gXjKg" title="A ₹3,000-crore fund manager explains why he won&amp;#39;t buy RIL, why he sold ITC and bought HDFC Life" thumbUrl="https://i.ytimg.com/vi/kSf5f3gXjKg/mqdefault.jpg"></div><br />Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks.The company has 333 million total customers, 114 million annual transacting users and 21 million registered merchants. <br /><br />Paytm has a strong market share in digital payments via the unified payments interface (UPI) but the margin is zero in peer-to-peer payments and wafer thin when merchants get paid. <br /><br />In the personal finance space ⁠— where Paytm sells mutual funds, gold and stocks ⁠— it has a less than 1% market share and makes zero commission, according to Macquarie. In insurance, only one out of 100 policies are sold online and Paytm is pitted against an early bird like Policybazaar as well as legacy banks, which dominate the space.<br /><br />Paytm aims to make money from its lending business. “Since Paytm will largely be engaged in selling down these loans to partner banks or NBFCs (non-banking financial companies) balance sheets, the addressable fee pool is much lower,” said Macquarie, which pegged the potential market for buy now, pay later schemes to be anywhere between $45 billion and $50 billion by March 2026.<br /><br />                            <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778072" hostid="261"></div><br />Despite a massive user base, the company’s revenue has been marginally declining on a year-on-year (YoY) basis. The company reported a revenue of ₹3,186 crore, with net loss of ₹1,761 crore. “Loss-making businesses will find it hard to sustain premium valuations,” Choksey added.<br /><br />Ravi Singh, head of research and vice president at ShareIndia, noted that Paytm’s future growth is a key to watch for long term investors. “We advise the investors after looking at the overall valuations and earlier losses of Paytm, to book their positions and wait for 1700-1600 levels for fresh investment. Retail investors may remain cautious as the overall market is in profit booking zone pushing maximum stocks in downside territory,” he added. <br />                            <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778081" hostid="261"></div><br />“People ask me how do you raise money at such a high price? I say, I don’t raise money on a price but I raise money on a purpose,” founder and chief executive officer Vijay Shekhar Sharma. He wanted India to be as excited about his dream of a super app for anything that can be bought and sold online. <br /><br />But many others have argued that a smartphone itself is a super app. Another startup founder Kavin Mittal, the man behind the $1.4 billion Hike Messenger, had similar ambitions but found it to be a misguided goal and dropped the plan in January 2021. <br /><br />Will Sharma prove his detractors wrong with Paytm? Only time will tell. <br /><br /><strong>SEE ALSO:<br /></strong><a href="https://www.businessinsider.in/stock-market/news/paytm-ipo-listed-at-discount-of-9-starts-trading-at-1955/articleshow/87772082.cms" data-type="tilCustomLink">India’s biggest IPO lists 9% below the IPO price and it may fall even further, warn analysts</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms">Paytm is likely to list below IPO price and experts advice serious investors to wait a while before buying</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/itc-reportedly-plans-to-spin-out-it-business-itc-infotech/articleshow/87758056.cms">ITC has a ₹2,500 crore IT business hiding in plain sight and that makes the street go Yippee!</a><br />

Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp

<keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> is expected to be adjusted EBITDA positive in March 2023, two quarters ahead of the estimates and the company's guidance of September 2023.<br /><br />It is learnt that global investment firm <keyword id="6361649" type="General" weightage="50" keywordseo="goldman-sachs" source="Orion">Goldman Sachs</keyword> expects October-December 2022 to be another strong quarter for Paytm, with revenue growth of 45 per cent on a yearly basis, adding that its margins print in the quarter would further increase the markets' confidence around the company's ability to be profitable in 2023.<br /><br />Notably, the Paytm Super App continued to see growing consumer engagement with the average Monthly Transacting User for the quarter that ended December 2022 at 85 million, registering a growth of 32 per cent on a yearly basis.<br /><br />"Paytm's MTU (monthly transacting users), loan disbursals and devices deployed continue to surprise us positively, and we have further raised our estimates for these metrics...," Goldman Sachs said.<br /><br />Thus, it reiterated 'Buy' rating with revised share target price of Rs 1,120 over a period of 12-month horizon. It is currently trading at Rs 541 per share.<br /><br />The global investment firm believes the current share price continues to offer a compelling entry point into what it termed Paytm as <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s largest and one of the fastest-growing fintech platforms.<br /><br />Meanwhile, the total merchant <keyword id="2185962" type="General" weightage="50" keywordseo="gross-merchandise-value" source="Orion">Gross Merchandise Value</keyword> processed through the Paytm platform for the quarter that ended December 2022 aggregated to Rs 3.46 lakh crore (USD 42 billion), marking a year-on-year growth of 38 per cent.<br /><br />The number of loans grew 117 per cent yearly to 3.7 million for the month of December, and 137 per cent to 10.5 million cumulative loans for the three months ended December 2022.<br /><br />As a result, total disbursements for the three months ended December 2022 was Rs 9,958 cr, a growth of 357 per cent on the year.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/over-1600-techies-being-fired-a-day-on-average-in-january-says-tracking-site-layoffs-fyi/articleshow/97047713.cms">Over 1,600 techies being fired a day on average in January says tracking site Layoffs.fyi</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indian-ceos-see-a-difficult-year-but-most-say-they-wont-go-for-job-or-salary-cuts-pwc-survey/articleshow/97046963.cms"><strong>Indian CEOs see a difficult year but most say they won’t go for job or salary cuts: PwC survey</strong></a><br />

Paytm may see profitability in March, two quarters ahead of expectation; Goldman Sachs raises target price

<ul><li><strong>Paytm's stocks  saw a sharp downside movement after a block deal that took place where 259,930 shares were sold.</strong></li><li><strong>Sources have confirmed that Chinese group Alibaba is behind the block deal.</strong></li><li><strong>According to sources, Alibaba seems to be making an exit from India as it had sold shares in other investments as well<br /></strong></li></ul><br />Paytm's stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold.<br /><br />The shares were sold at Rs 535.90 worth Rs 13.93 crore.<br /><br />Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total <br />equity of about 6 per cent. With this block deal, Alibaba, the sources said, seems to be making an exit from India as it had sold shares in other investments such as BigBasket and Zomato.<br /><br />This is expected to bring cheers among investors. With Chinese shareholding reducing their stake, it will benefit the company in their Foreign Direct Investment (FDI) aspect.<br /><br />Paytm shares' intraday low was Rs 528.10. In fact, immediately after the block deal it soon recovered some part of the losses.<br /><br />Paytm's shares had been steadily rising for the past few days after there were several good news floating about the company. Its associate <keyword id="3236791" type="General" weightage="80" keywordseo="paytm-payments-bank" source="Orion">Paytm Payments Bank</keyword> has received <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> approval to appoint <keyword id="5719896" type="General" weightage="80" keywordseo="surinder-chawla" source="Orion">Surinder Chawla</keyword> as its Managing Director and CEO.<br /><br />The company had posted a strong operating performance update for the October-December quarter.<br /><br />The Paytm Super App continued to see growing consumer engagement with the average Monthly Transacting User for the quarter that ended December 2022 at 85 million, registering a growth of 32 per cent on a yearly basis.<br /><br />The total merchant <keyword id="2185962" type="General" weightage="80" keywordseo="gross-merchandise-value" source="Orion">Gross Merchandise Value</keyword> processed through the platform for the quarter ended December 2022 aggregated to Rs 3.46 lakh crore (USD 42 billion), marking a year-on-year growth of 38 per cent.<br /><br />The number of loans grew 117 per cent yearly to 3.7 million for the month of December, and 137 per cent to 10.5 million cumulative loans for the three months ended December 2022.<br /><br />As a result, total disbursements for the three months ended December 2022 was Rs 9,958 crore, a growth of 357 per cent on year.<br /><br />Paytm believes it continues to be on track for its profitability plans, with robust revenue growth driven by its strong business model.<br /><br />Meanwhile, brokerage and global investment firm <keyword id="48670" type="General" weightage="80" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword>, in a report, pegged Paytm's shares target price to be at Rs 695 going ahead as against Rs 579 at Wednesday's close. It essentially means there is an upside potential of about 20 per cent returns on investment for investors. <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-will-be-key-beneficiary-of-indias-upi-incentive-scheme-morgan-stanley/articleshow/96933995.cms">Paytm will be key beneficiary of India's UPI incentive scheme: Morgan Stanley</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tcs-revenue-growth-to-slowdown-in-fy24-fitch-ratings/articleshow/96933754.cms">TCS revenue growth to slowdown in FY24: Fitch Ratings</a></strong>

Alibaba exiting India? Paytm among other Alibaba-owned stocks seeing selloff

India's leading <keyword id="50691" type="General" weightage="80" keywordseo="digital" source="Orion">digital</keyword> payments and financial services company <keyword id="6357120" type="General" weightage="80" keywordseo="paytm" source="Orion">Paytm</keyword> will be a key beneficiary of India's Unified Payments Interface (<keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword>) incentive scheme, brokerage firm Morgan Stanley said on Thursday.<br /><br />The Union Cabinet on Wednesday approved the incentive scheme of Rs 26 billion for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) for FY23, compared with Rs 15 billion in FY22.<br /><br />"Apart from banks, Paytm should be a key beneficiary of the above. On our estimates, Paytm would have received 5-7 per cent of the FY22 incentive, and assuming a similar share for FY23, this would represent 3-5 per cent of our contribution profit estimate (1 per cent higher than what we previously assumed for FY23)," the brokerage firm mentioned.<br /><br />One97 Communications's associate Paytm Payments Bank Ltd (PPBL) is the top beneficiary and leading remitter bank for UPI transactions.<br /><br />PPBL is an issuer and PSP Bank in itself along with being an acquirer of UPI transactions.<br /><br />Under the scheme, acquiring banks are provided with a financial incentives for promoting point-of-sale and e-commerce transactions using RuPay debit cards and BHIM-UPI transactions.<br /><br /><keyword id="198636" type="General" weightage="50" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword>, Founder, CEO &amp; MD of Paytm, tweeted: "Huge commitment by GOI Cabinet to push Digital Payments thru UPI and RuPay. The #DigitalIndia mission of our government will bring long-term benefits to our economy."<br /><br />During its last earnings call, Paytm's top management had said that the UPI merchant payments (which are free for the merchant) have become revenue-generating given the government is encouraging digital payments in the form of incentives for UPI P2M transactions.<br /><br />"UPI helps us with efficient customer and merchant acquisition and allows us to better monetise our platform by upselling financial services as well as payments devices," it said.<br /><br />This incentive scheme will facilitate the building of a robust digital payment ecosystem and promote RuPay Debit Card and BHIM-UPI digital transactions.<br /><br />In line with the objective of '<keyword id="2664548" type="General" weightage="50" keywordseo="sabka-saath" source="Orion">Sabka Saath</keyword>, Sabka Vikas', the scheme will also promote UPI Lite and UPI 123PAY as economical and user-friendly digital payments solutions and enable further deepening of digital payments in the country, across all sectors and segments of the population.<br /><br />The government also intends to continue the financial support for digital payments announced in the previous Budget, with a focus on promoting the use of payment platforms that are economical and user-friendly.<br /><br />The scheme has been formulated in compliance with the aforesaid Budget announcement, the Cabinet announcement included.<br /><br />The Paytm Super App continues to see growing consumer engagement with the average MTU for the quarter that ended December 2022 at 85 million, registering a growth of 32 per cent YoY.<br /><br />The total merchant GMV processed through the platform for the quarter ended December 2022 aggregated to Rs 3.46 lakh crore ($42 billion), marking a YoY growth of 38 per cent.<br /><br /><strong>SEE ALSO:</strong><br /><strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/sun-mobility-aims-to-serve-10-lakh-vehicles-through-its-battery-swapping-platform-by-2025/articleshow/96932578.cms">Sun Mobility aims to serve 10 lakh vehicles through its battery swapping platform by 2025</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/global-pc-demand-sees-its-deepest-collapse-since-mid-90s-amid-recession-fears-gartner/articleshow/96932794.cms"><strong>Global PC demand sees its deepest collapse since mid-90s amid recession fears: Gartner</strong></a>

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Paytm may see profitability in March, two quarters ahead of expectation; Goldman Sachs raises target price

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Alibaba exiting India? Paytm among other Alibaba-owned stocks seeing selloff

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Paytm will be key beneficiary of India's UPI incentive scheme: Morgan Stanley

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