India's Paytm slumps after government says reports of UPI transaction fees false
(Reuters) -Shares of digital payments firm Paytm slumped as much as 10% on Thursday after India's finance ministry said that reports about the introduction of fees on the popular unified payments interface (UPI) transactions were false and baseless.
The shares posted their sharpest intraday fall since February 2024, before coming off lows to trade down 8%. India's benchmark Nifty 50 was trading 0.2% lower.
In India, merchants pay fees to banks or payment service providers, such as Paytm, for transactions. There is no fees on UPI payments.
The delay or non-introduction of the fees is "sentiment negative for Paytm", brokerage UBS said, adding that the firm's adjusted core profits could decline more than 10% in fiscal years 2026 and 2027 if increased incentives are absent.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
Keir Starmer's Quest to Keep Everything from Escalating
Bloomberg Weekend The UK prime minister is 'gravely concerned' about Israel and Iran, Mali has a mud-brick building problem, and men in finance are suffering from pelvic-floor dysfunction. By Save Welcome to the weekend! This week, the companies behind many of China's most popular AI chatbots disabled some of their services prior to an annual event in which millions of Chinese citizens take part. What was it? Find out with this week's Pointed quiz.
New York Times
an hour ago
- New York Times
Al Ahli make contact with Ange Postecoglou, former Tottenham boss among candidates if managerial change made
Al Ahli have made contact with former Tottenham Hotspur boss Ange Postecoglou and he is among the candidates the Saudi Pro League side are considering if a managerial change is made. Former Barcelona head coach Xavi is also among the potential options being considered by Al Ahli in the event of head coach Matthias Jaissle departing the club. Advertisement Jaissle's Al Ahli contract runs until 2026 and he has turned down multiple offers of a new deal, leading to the club opening negotiations with other candidates, and talks are moving quickly with Postecoglou. Jaissle's potential departure would be complicated as he led the club to AFC Champions League success in May and he remains a popular figure with supporters. Postecoglou was dismissed by Tottenham in June despite him winning the club's first major trophy in 17 years. The Australian led Spurs to victory in the Europa League final over Manchester United in May — the club's first piece of silverware since 2008 — but they finished 17th in the Premier League. Thomas Frank has since been appointed his successor. Xavi, meanwhile, has been out of management since being sacked by Barcelona in May 2024. Jaissle's potential successor would inherit a squad at Al Ahli that includes former Manchester City winger Riyad Mahrez, former Liverpool forward Roberto Firmino and former Brentford striker Ivan Toney. They are one of four clubs Saudi's Public Investment Fund (PIF) took control of in the summer of 2023, leading to significant transfer spending and an influx of overseas talent into the division. A move to Al Ahli would represent Potecoglou's first coaching role in Saudi Arabia, having managed in Australia, Greece, Japan, Scotland and England. He joined Tottenham in the summer of 2023 and led the club to a fifth-place finish during his debut season in charge. However, Tottenham won only 11 league games during the 2024-25 campaign and endured a pair of six-game winless runs over April and May, and December and January. Their total of 22 losses was the most of any team not to be relegated in a 38-game Premier League season. Postecoglou did have to contend with an extensive injury list, with Dominic Solanke, Brennan Johnson, Yves Bissouma, Cristian Romero, Micky van de Ven, Destiny Udogie, Lucas Bergvall, Dejan Kulusevski, Guglielmo Vicario, Richarlison, James Maddison, Radu Dragusin and Wilson Odobert all missing periods. Advertisement Xavi, meanwhile, had announced in January 2024 his intention to leave Barca at the end of the 2023-24 season before being persuaded to reverse his decision in April. He was then dismissed just 30 days after April's announcement that he would see out his contract until 2025. He won the La Liga title during his debut season in charge of Barca but the club trailed Real Madrid by 10 points the following campaign. Jaissle, 37, joined Al Ahli from Red Bull Salzburg in 2023 and led them to third in the Saudi Pro League during his debut season, followed by a maiden AFC Champions League title the following campaign.
Yahoo
an hour ago
- Yahoo
Be Wary Of Phillips 66 (NYSE:PSX) And Its Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Although, when we looked at Phillips 66 (NYSE:PSX), it didn't seem to tick all of these boxes. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Phillips 66, this is the formula: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.02 = US$1.1b ÷ (US$72b - US$15b) (Based on the trailing twelve months to March 2025). Thus, Phillips 66 has an ROCE of 2.0%. In absolute terms, that's a low return and it also under-performs the Oil and Gas industry average of 9.8%. See our latest analysis for Phillips 66 Above you can see how the current ROCE for Phillips 66 compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Phillips 66 for free. In terms of Phillips 66's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 8.5%, but since then they've fallen to 2.0%. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It may take some time before the company starts to see any change in earnings from these investments. Bringing it all together, while we're somewhat encouraged by Phillips 66's reinvestment in its own business, we're aware that returns are shrinking. Yet to long term shareholders the stock has gifted them an incredible 101% return in the last five years, so the market appears to be rosy about its future. But if the trajectory of these underlying trends continue, we think the likelihood of it being a multi-bagger from here isn't high. Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 4 warning signs for Phillips 66 (of which 1 doesn't sit too well with us!) that you should know about. While Phillips 66 isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
