Paytm lending business witnesses 224% growth in lending business

The Markets Today in a nutshell

• Domestic benchmark indices ended almost flat with negative bias.
• Sentiment continues to remain fragile amid concerns over economic growth and monetary policy tightening from central banks. After opening with sharp cuts, the Nifty 50 index recovered gradually, supported by IT heavyweights. Barring the Nifty IT index, all the sectoral indices on the NSE ended in the red. Consumer durables, FMCG and media shares were under pressure.

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News you could use

?Paytm lending business witnesses 224% growth in lending business
The number of loans disbursed through companies’ platform grew by 224 percent year over year whereas the value of loans grew by 482% y-o-y. The company said that its loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through its platform stood at an annualised run rate of Rs 34,000 crore in the month of September.

?IDBI Bank spurts 9 percent as government invited bids for privatizing the bank
The government is offering to sell 30.48% of its stake in the bank, and Life Insurance Corporation of India (LIC) will 30.24%, aggregating to 60.72% of IDBI Banks share capital, along with transfer of management control in the lender. Currently, GoI holds 45.48% and LIC holds 49.24% of the total equity share capital of IDBI Bank.

?TATA Motors stock slides ~4 percent on JLR sales data
JLR retail sales in Q2 stood at 88,121 vehicles, an increase of 9,296 units or 11.8% as compared with the previous quarter ending 30 June 2022. The retail sales are, however, lower by 4.9% in comparison to the second quarter of FY22.

News from the IPO world?

• Tracxn Technologies IPO opens today
• Rs. 12,000 crore IPOs are coming to Dalal Street
• Kaynes Technology gets SEBI’s go ahead to float IPO

Numbers? that matter