BUSINESS
Nifty Microcap 250 Emerges as Top Performing Index in January with 9.9% Growth
Following closely behind, the Nifty Smallcap 250 Index recorded growth of 7.28% in January 2024. Over the past periods, it has shown significant growth rates of 25.2%, 32.7%, and 62.6% over the last 3 months, 6 months, and one year, respectively.
Small and Mid-Cap Stocks Space Shows Signs of Unsettling Calm, Report
According to a report by DSP Mutual Fund, in the years following bullish phases marked by 'unsettling calm,' the average drawdowns for largecap, midcap, and smallcap indices tend to be higher than usual.
Sensex Surges Over 300 Points Driven by Wipro and TCS Performance
The Sensex is currently trading at 72,080.89 points, marking an increase of 349.47 points on Tuesday, primarily driven by gains in heavyweight IT stocks. Wipro has seen a rise of three per cent, while TCS also recorded a three per cent increase.
Juspay Announces Acquisition of LotusPay in Cash Transaction
According to the company, this acquisition will bolster its offerings in the BFSI segment and among merchants, with a specific emphasis on enhancing its recurring payment capabilities.
Paytm Denies Reports of Talks with Jio Financial Services Regarding Wallet Business Sale
Similarly, Paytm also addressed the matter, stating, "We have not been involved in any negotiations concerning this matter. Paytm Payments Bank Limited (PPBL), our associated company, has also confirmed that they have not been engaged in any such negotiations."
HDFC Receives RBI Approval for Acquisition of 9.5% Stake in IndusInd Bank
The RBI's stipulation mandates that HDFC Bank, being the largest private lender in India by market capitalization, must acquire a significant shareholding in IndusInd Bank from the date of approval. Failure to comply with this requirement would result in the cancellation of the approval.
One97 Communications Refutes Reports of Foreign Exchange Rules Violation Probe
In a regulatory filing, the company stated, "We will continue to issue such clarifications as necessary."
OECD Upgrades India's Growth Outlook for 2024 to 6.2%
The report highlights that emerging-market economies, including India, have sustained solid growth despite tighter financial conditions. This resilience is attributed to improved macroeconomic policy frameworks, substantial investment in infrastructure, and consistent employment gains in many countries.
Airtel Records Impressive 54% Surge in Q3 Net Profit, Reaching Rs 2,442 Crore
Airtel's Average Revenue Per User (ARPU) experienced a marginal increase, reaching Rs 208 in Q3FY24, compared to Rs 203 in Q2FY24.
Paytm Refutes Reports on Wallet Business Sale, Cites 'Market Speculation'
Contrary to speculations naming HDFC Bank and Jio Financial Services as potential buyers, a Paytm Payments Bank spokesperson, in a statement to IANS, asserted that the company does not comment on market speculations. The spokesperson emphasized their commitment to regulatory compliance and ensuring a seamless customer experience with the products offered by Paytm Payments Bank Ltd (PPBL).
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