Vodafone Idea agreed to give the government 35.8% equity
A day after Vodafone Idea agreed to give the government 35.8% equity in lieu of the interest on AGR charges payable, Tata Teleservices Maharashtra has also opted for conversion. It will give approximately 9.5% stake to the government against its interest dues. Both companies had already opted for moratorium on AGR charges. Currently, the promoters hold about 74.36% in Tata Tele. While the stock price was at Rs.291, the deal will happen at Rs.41, which is the 6 month average price. Bharti had refused conversion.
PB Fintech is sharply down along with all the digital plays
The stock of Policybazaar parent, PB Fintech, may have had a good listing, but it is also sharply down along with all the digital plays. It recent fell below its previous low of Rs.884 on heavy selling pressure. The stock of PB Fintech is already down 25% in the last one month. From its peak price of Rs.1,470, the stock has corrected nearly 41%, although the fall is still not as bad as CarTrade or Paytm. On Monday it had given out good numbers with its originated insurance premium up 67% at Rs.1,786 crore in the Dec-21 quarter.
Paytm has almost halved from its IPO issue price of Rs.2150
The stock of Paytm has almost halved from its IPO issue price of Rs.2,150, with the latest pressure coming from another price downgrade by Macquarie to Rs.900. Most domestic institutions continue to exit their anchor allocations due to internal pressure. However, top line numbers have been quite encouraging. Paytm reported doubling of gross merchandise value (GMV) at Rs.2.50 trillion for Q3. Investors are also worried that the payments business, accounting for 70%, will be at risk if the price caps are implemented.
Rupeek Fintech has just raised $34 million
Rupeek Fintech, a gold lending start-up, has just raised $34 million to accelerate its efforts to help Indian households monetize its $1.50 trillion held as gold. The participating investors include Lightbox, GGV and Bertelsmann. Rupeek is not yet a Unicorn with valuations at around $634 million. Rupeek uses technology to assess gold offered as collateral and crunches data to issue loans with monthly rates ranging from 0.49% to 1.5%. The assessment is done at the doorstep before the actual process is done electronically.
NSE four stocks have been put under the ban in FNO
A total of four stocks have been been put under the ban for trade on Wednesday, January 12, 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE). These securities have been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.
source : Internet