Q3 results today: Zomato, Paytm among 37 companies to announce earnings on Monday
On Monday, key third-quarter earnings results will be announced by 37 companies, including Zomato and Paytm. Zomato is projected to see significant YoY revenue growth due to strong operations, while Paytm’s revenue is expected to decline by 35-36%. Blinkit and other businesses also show varying performance.
Paytm to announce Q3 earnings on Monday. Here’s is what to expect
Paytm, operated by One 97 Communications, is set to report its December quarter earnings, with revenue expected between Rs 1,842 crore and Rs 1,826 crore, a 35-36% YoY decline. Yes Securities predicts an EBITDA loss of Rs 100 crore and Emkay Research estimates a net loss of Rs 346 crore.
Q3 numbers modest; RIL, IT Inc make presence felt
Aggregate numbers were influenced by the performance of Reliance Industries (RIL), the country’s largest company by revenue and market capitalisation, and by the top software exporters.
Asian stocks advance as Trump and Xi discuss trade
Shares in Australia, Japan and South Korea gained. A gauge of US-listed Chinese shares jumped 3.2% Friday as Trump described the talk between the two leaders as “very good.” US futures were slightly lower in Asian trading with Wall Street closed on Monday due to a holiday.
Burmans’ Religare open offer to start on January 27
Burman family’s open offer to acquire 26% additional stake in Religare Enterprises Ltd begins on January 27. The offer targets 9 crore shares, closing on February 7. Burmans currently hold a 25.12% stake. Announced in September 2023, the Rs 2,116-crore bid faced opposition from REL independent directors citing fraud allegations.
Nifty likely to trade in 22,800-23,800 range: Analysts
We expect the weakness in Nifty to persist, due to the lack of leadership from heavyweight sectors such as Bank Nifty and IT, alongside the prevailing weak market sentiment.
RBI’s got a tough call in Feb as global peers opt for rate cuts
Four of the six central banks overseeing the 10 most heavily traded currencies held meetings since November, and have lowered their lending benchmarks.
Stock splits could be a reason for cheer, worry too
Stock splits are intended to reduce the price of shares, making them more accessible to retail investors. However, several Indian small-cap companies have misused this mechanism, using it as a significant milestone to artificially inflate their stock prices.
Motilal Oswal refutes bribery allegations
Motilal Oswal Mutual Fund is one of the top institutional investors in Kalyan. These rumours had resulted in Motilal Oswal shares falling 12% in the past three trading days and Kalyan’s shares tumbling 20% in the past week and 33% in a month.
Rising funding costs may hit NBFC margins
NBFCs are expected to face pressure on margins due to liquidity issues and high funding costs in Q3 of 2024. Microfinance companies and those with high unsecured loans may see payment delays. Analysts predict slowed credit growth, elevated credit costs, and deteriorating asset quality, exacerbated by subdued vehicle financing and regulatory scrutiny.