PINE LABS (PINELABS)
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Paytm, MobiKwik, Pine Labs shares plunge up to 10% on UPI MDR delay
Shares of Paytm, MobiKwik, and Pine Labs fell as much as 10% after reports that India may defer the proposed 0.4% UPI merchant discount rate (MDR) on transactions above ₹2,000. The delay is seen as a blow to payment companies' revenue prospects, though Goldman Sachs maintained a favourable risk-reward on Paytm with a target above ₹2,000. Meanwhile, experts argue the deferral is unjustified since 95% of merchant payments would face no impact.
Mastercard to Sell Pine Labs Stake in Rs 892 Crore Block Deal
Mastercard is likely to sell its stake in Pine Labs through a block deal valued at Rs 892 crore. Pine Labs shares worth Rs 934 crore have already changed hands in a block deal, with Mastercard Asia identified as the likely seller.
Bonanza's Kunal Kamble picks Adani Ports, Pine Labs, Aegis Vopak
Adani Ports among 3 stock ideas for today by Bonanza's Kunal Kamble Stocks to buy today: Kunal Kamble is bullish on three stocks, namely Adani Ports, Pine Labs and Aegis Vopak amid bullish signals on tech charts. Listen to This Article Disclaimer: This article is written by Kunal Kamble, senior technical research analyst at Bonanza. Readers' discretion is advised.
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