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Paytm moved quickly to cut ties with the payments bank; Sharma resigned as chair of the bank’s board last week. Paytm is now trying to build relationships with third-party banks, like Axis Bank.
In our chart of the week, we look at the 10-year Treasury yield, a go-to indication of long-term interest rates. ... But also positive, as rising rates reflect economic growth.
Paytm posted a loss of 2.04 billion rupees ($23.6 million) before exceptional items and tax for the third quarter ended Dec. 31, compared to a 4.07-billion-rupee loss in the second quarter.
In 2015, Paytm Payments Bank Limited received in-principle approval from the Reserve Bank of India to set up a payments bank and was formally inaugurated on November 28, 2017. [ 6 ] [ 16 ] In the financial year 2020, the bank facilitated more than 485 crore transactions worth ₹4.6 lakh crore. [ 17 ]
Its travel business crossed $500 million in annualised GMV run rate, with 20 lakh tickets booked per month. [18] In March 2015 Paytm received its huge stake from Chinese e-commerce company Alibaba Group, after Ant Financial Services Group, an Alibaba Group affiliate, took 40% stock in Paytm as part of a strategic agreement. [19]
On the technical analysis chart, a wedge pattern is a market trend commonly found in traded assets (stocks, bonds, futures, etc.).The pattern is characterized by a contracting range in prices coupled with an upward trend in prices (known as a rising wedge) or a downward trend in prices (known as a falling wedge).
Until the past few weeks, stocks continued to climb to records as bond prices fell. Recently the S&P 500 earnings yield fell below the 10-year Treasury yield to a degree not seen since 2002.
The company's initial share sale aimed to raise ₹18,300 crore at a band of ₹2,080-2,150, valuing it at ₹1.39 trillion. [32] The company's IPO was subscribed 18% on the first day, having received bids for 8.742 million shares against the total issue size of 48.4 million shares.