Paytm shares in focus after Supreme Court stays Rs 5,712-crore GST notice against First Games
Paytm shares will be in focus after the Supreme Court stayed proceedings related to a Rs 5,712-crore Goods and Services Tax (GST) notice issued to Paytm-owned First Games by the Directorate General of GST Intelligence (DGGI), New Delhi.
ADVERTISEMENT The update was shared in a regulatory filing by One97 Communications, the parent company of Paytm and its gaming arm, First Games. The notice, issued in April 2025, had prompted First Games to file a writ petition in the apex court.
'We hereby inform you that First Games has informed us on May 24, 2025 at 10:44 am (IST) that in the writ petition …filed by First Games challenging the said SCN, the Hon'ble Supreme Court of India has on May 23, 2025 stayed the proceedings of the SCN,' One97 Communications said in the filing.
The case revolves around the classification and taxation of real money gaming platforms under the GST regime—an issue affecting several companies in the online gaming sector.
Also Read: High conviction picks! ICICI Bank, HAL among 10 large-cap stock ideas from PL Capital
One97 Communications clarified that the tax matter is not limited to First Games but is part of a broader legal debate involving multiple gaming platforms facing large tax demands under revised GST norms. The Supreme Court is already hearing similar petitions.
ADVERTISEMENT The interim stay offers relief to First Games and may indicate the court's willingness to take a deeper look at how real money gaming is being taxed in India.Also Read: Stocks in news: Firstcry, Nazara, Swiggy, JSW Steel, NTPC
ADVERTISEMENT
Paytm operator One97 Communications reported a consolidated net loss of Rs 540 crore in Q4FY25, marginally lower than the Rs 550 crore loss in the year-ago period.Revenue from operations for the March quarter stood at Rs 1,912 crore, down 16% year-on-year from Rs 2,267 crore in Q4FY24.
ADVERTISEMENT Sequentially, the net loss widened from Rs 208 crore in Q3FY25, though revenue improved nearly 5% from Rs 1,828 crore in the previous quarter.According to Trendlyne, the average target price for Paytm stands at Rs 933, implying an upside of nearly 11% from current levels. Among the 17 analysts covering the stock, the consensus rating is 'Hold'.
ADVERTISEMENT
Paytm shares closed at Rs 412.1 on Friday, up 1.8% on the BSE, while the Sensex gained 0.95%. The stock is down 14% year-to-date but has surged 137% over the past 12 months. Its current market capitalisation is Rs 53,855 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
30 minutes ago
- Time of India
Goats of diverse breeds flood Raja Bazaar market ahead of Bakrid
Patna: With Bakrid just days away, city's Raja Bazaar cattle market witnessed a significant surge in visitors on Thursday as the Muslim faithful purchased goats for qurbani (sacrificial rituals) during the festival on June 7. Tired of too many ads? go ad free now Sellers, who have come not only from various parts of Bihar but also from other states such as Uttar Pradesh, Rajasthan and Madhya Pradesh with thousands of goats of diverse breeds, were hopeful of selling all the cattle by Friday. "I sold 136 indigenous goats weighing 12-18kg each, priced between Rs 11,000 and Rs 20,000. Only four goats are left. We are sure that we will sell the remaining by Friday. The market was good this year, and we witnessed a huge rush," said Moh Aslam from Begusarai. While on an average the goats are priced between Rs 10,000-12,000, premium specimens fetched Rs 80,000-1.5 lakh, based on their size and breed like Barbari from Etawah, UP, and Totapari from Jaipur, Rajasthan, — highly sought after for their distinctive appearance. Additionally, the market features Jamnapari from UP, Ajmeri from Ajmer, Rajasthan, and various local breeds from several Bihar districts, including Buxar, Begusarai, Bhojpur, Purnia, Kishanganj, Saharsa, Arwal, Jehanabad and Siwan. Nazre Alam, a vendor from Azamgarh's Mubarakpur in UP, said he bought 45 goats, mainly Totapari and Ajmeri breeds. "I sold 43 cattle heads within a week, each in the range of Rs 35,000 to Rs 80,000, weighing 30kg to 45kg. Of the three left, one costs Rs 1.5 lakh, weighing 140kg, while the other two are priced at Rs 95,000 (weighing 80-90 kg)," he said. Mohd Ziaullah Khan, coordinator of the cattle market, said over 200 traders brought around 10,000 sacrificial animals for sale. Tired of too many ads? go ad free now Another vendor, Anisur Haque, a resident of Azimabad, who brought two species of goat — Sirohi from Rajasthan and Gujri of northern India — said they cost Rs 80,000 a pair. "They look more appealing predominantly because of their brown coat with dark patches and sturdy build. They weigh 40-45kg," he said.
Time of India
34 minutes ago
- Time of India
Tata Power's Anokha Dhaaga smart circularity programme achieves milestone in plastic waste conversion
Tata Power's Anokha Dhaaga smart circularity programme achieves milestone in plastic waste conversion MUMBAI: Tata Power's Anokha Dhaaga Smart Circularity programme has successfully converted 5,000 kgs of single-use plastic waste into recycled fabric products. The initiative, operated by women across six centres, has generated over Rs 20 lakh in fair-trade earnings while addressing plastic pollution concerns through community engagement. The initiative supports Tata Power's #SustainableisAttainable vision. Additionally, the programme incorporated denim collection efforts, providing new utility to previously worn clothing items. This programme corresponds with World Environment Day 2025's theme—"End Plastic Pollution." The initiative supports the #BeatPlasticPollution campaign by demonstrating how environmental innovation and community participation can effectively address plastic waste issues while creating positive social and environmental outcomes, an official said on Wednesday. World Environment Day 2025 advocates for reconsidering plastic usage, based on scientific research regarding its environmental impact, promoting the principles of refusing, reducing, reusing, recycling, and rethinking plastic consumption. 'The initiative commenced with plastic collection activities across Tata Power's Trombay facility, residential areas, and various Tata Group and Tata Power offices in Mumbai. Through active participation from employees and their families, substantial plastic waste was prevented from reaching landfills,' the official said. Working alongside ReCircle, a waste management social enterprise, and their Safai Saathis, the collected plastic was processed into RPET fabric. The women of Anokha Dhaaga received training to create sustainable products from this recycled material, resulting in numerous finished items, including clothing and bags, the official added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
34 minutes ago
- Time of India
Go Green with MSEDCL bills, receive Rs 120 discount
MUMBAI : On World Environment Day on Thursday, MSEDCL will encourage maximum customers to opt for the Go Green service initiative to protect the Earth. 'Customers who choose to receive their electricity bills through email rather than paper format will receive an immediate one-time discount of Rs 120. Tired of too many ads? go ad free now Under the principle of 'Save Paper, Save the Environment', MSEDCL has introduced the Go Green service,' an official said. Subscribers to this service receive their monthly electricity bills via email instead of printed copies. Currently, 6.2 lakh of Mahavitaran's electricity consumers have subscribed to the Go Green service. To boost participation, Mahavitaran now offers this discount to increase this number. 'The company has notified all registered electricity customers through SMS about this eco-friendly option. To enrol in the Go Green service, visit and select the Go Green option,' an official added.
