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Zomato share price tanks 14% in 2 days. What is driving the selloff?

Shares of food delivery firm Zomato plunged more than 7% to 61 apiece on the BSE in Tuesday's early deals, heading for its second straight session of losses after announcing a deal to buy local grocery-delivery startup Blinkit. The stock has plunged about 14% in the last two trading sessions. Read more

Paytm share price surges on fourth straight day. Stock rises 24% in two weeks

Paytm share price been rising continuously after dipping to its new low of 510.05 apiece levels in May 2022. Paytm shares opened higher for the fourth successive session in Tuesday's deals and went on to make its intraday high of 723.60 per share levels on NSE, recording around 2 per cent rise in intraday session. Read more

GST Council meet today: From tax on online casinos to decision on taxing crypto. What's on agenda?

During the two-day GST Council meeting starting today, the council is slated to discuss an array of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers. Read more

Who was Pallonji Mistry? All you need to know about the Indian billionaire

Pallonji Mistry, the Indian-born billionaire, has passed away in Mumbai. He was 93. A company spokesperson confirmed the death of the Indian tycoon. He died mid-sleep at his south Mumbai residence on the intervening night of Monday and Tuesday, the officials said. Read more

This Mahindra SUV model has nearly 2-year waiting period amid strong demand

Robust consumer demand teamed with an ongoing shortage of chips has seen wait times for Mahindra & Mahindra Ltd.’s XUV700 sports utility vehicle balloon to as long as 22 months just as the carmaker unveils the latest model in its big-automobile lineup. Read more

Route Mobile board to consider share buyback today. Details here

The board of directors of mid-cap company Route Mobile is going to consider the proposal for buyback of shares in its scheduled meeting today. After an interim dividend of 3 per equity share paid in FY22, this will be the second opportunity for Route Mobile shareholders to gain from other than route Mobile share price appreciation. Read more

Mint Morning Digest

Asian markets: Stock rally falters despite higher treasury yields

Stocks in Asia look set for a soft start on Tuesday after a global bounce from a bear market stalled in the US amid a climb in crude oil prices and Treasury yields. Read more

Netflix looking at Asia to fix its subscription crisis

Netflix Inc. is looking to Asia after its shock first-quarter slowdown, seeking to both maintain growth in the one region where it’s still adding subscribers and replicate its success there in other parts of the world. Read more

Probe in NSE’s co-location case stumbles upon new malpractice

Investigations into the co-location scandal at the National Stock Exchange (NSE) have unearthed a new facet of market manipulation by high-frequency traders. The malpractice involved firing a barrage of algorithmic orders, many more than they are allowed to, to crowd out orders of rival brokerages. Read more

Yes Bank may move regulator over Goel’s tenure on Dish board

Yes Bank Ltd managed to convince the majority of Dish TV India Ltd shareholders to prevent Jawahar Goel’s continuance as managing director on Friday. However, there was a twist in the tale: guarded by the company’s Articles of Association (AoA), Goel continues as a non-executive director, catching Dish TV’s largest shareholder Yes Bank, and other minority shareholders, by surprise. Read more

Compliance steps won’t hurt genuine businesses: Vivek Johri

Upcoming measures to improve GST compliance will be balanced, and will not cause any hardship to genuine businesses, Central Board of Indirect Taxes and Customs (CBIC) chairman Vivek Johri said. Read more

Shadow  banks  see  some decline in rural demand

India’s non-bank financiers are experiencing slowing demand among certain segments of rural consumers, as the double whammy of high inflation and uneven post-pandemic recovery forces them to delay discretionary spending. Read more

 

 

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