FINO NEWS
Stocks in news: Nykaa, Godrej Consumer, Titagarh Rail, Fino Payments Bank, NMDC
Indian markets closed with over 1% gains, though volatility persisted. Analysts eye crude oil prices and India Vix for sustained recovery. Key stocks like Nykaa, NMDC, and Godrej Consumer are in focus due to Q4 results and news. PC Jeweller reported 32% revenue growth, while Titagarh Rail's subsidiary secured approval for expansion.
Stocks in news: Chennai Petroleum, LIC, Brigade Enterprises, Sadbhav Engineering, DCX Systems, Aequs, Fino Payments Bank
Indian stock markets extended their rally for a second straight session, with banking, auto, and consumer stocks driving gains. Several companies, including Chennai Petroleum, LIC, and Brigade Enterprises, are in focus today due to significant corporate developments and announcements.
Ahead of Market: 10 things that will decide stock market action on Friday
Indian benchmark indices rallied for a second session, led by banks, auto and consumer stocks. Nifty climbed above 23,300 while Sensex reclaimed 75,000. Analysts see near-term bullish momentum, though global uncertainties, volatility and resistance levels may cap further upside.
PhonePe pauses IPO; Databricks' India ramp-up
PhonePe has deferred its IPO citing the Iran war. However, sources tell us pricing of the issue was a key concern. This and more in today's ETtech Top 5.
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Fino Payments Bank shares crash 19% on report of possible ED probe; lender clarifies
Fino Payments Bank shares tumbled over 19% to a record low after a report said some online gaming transactions linked to the lender may attract scrutiny from the Enforcement Directorate. The bank later clarified it is not under any ED investigation and is cooperating with DGGI Hyderabad in an ongoing GST-related probe.
Stocks in news: JSW Infra, Dixon Technologies, RIL, Natco Pharma, M&M
Markets experienced sharp selling pressure, nearing a key technical support level. Several companies like JSW Infra, Dixon Technologies, RIL, Natco Pharma, and M&M are in focus due to significant news. JSW Infra reported damage to a storage tank, while Fino Payments Bank addressed concerns regarding its CEO's arrest.
Stocks in news: Adani Ports, Fino Payments Bank, GAIL, BEL, SpiceJet
Equity markets faced pressure last week due to geopolitical tensions and tech stock weakness. Investors are reacting to the Iran-US-Israel conflict, with analysts predicting a negative near-term impact. Several stocks like Adani Ports, Fino Payments Bank, GAIL, BEL, and SpiceJet are in focus due to various news developments.
Fino Payments Bank used shell cos, payment aggregators to move illicit funds from online money gaming: Sources
GST authorities have arrested its managing director and CEO Rishi Gupta for violating the law related to the Goods and Services Tax (GST), Fino Payments Bank had said on Friday. Sources in the know of the case said that the initial investigation by the Directorate General of GST Intelligence (DGGI) is investigating a case of online money gaming, which is banned in India.
Fino Payments Bank CEO arrest rattles fintech industry; Payments Council writes to FM
The Payments Council of India (PCI), which represents digital payments companies, has written to finance minister Nirmala Sitharaman seeking urgent intervention and calling for greater proportionality in enforcement action. Several industry leaders, including Navin Surya, founder-chairman of the Fintech Convergence Council, Vishal Gondal of Goqii and Alok Mittal of Indifi, also expressed support for Gupta on social media.
Fino Bank MD and CEO Rishi Gupta arrested under GST provisions
Fino Payments Bank MD Rishi Gupta was arrested by DGGI Hyderabad in a probe concerning business partners under GST tax provisions. The bank stated the investigation is not related to its GST compliance, but sources indicate fake invoices caused government revenue loss. The Fino board has appointed CFO Ketan Merchant as interim head.
Fino Bank CEO Rishi Gupta arrested under GST acts
Fino Payments Bank's Managing Director and CEO, Rishi Gupta, was arrested under CGST and SGST Acts. The bank clarified the investigation involves a business partner, not its GST compliance, and is taking steps to resolve the issue. CFO Ketan Merchant will lead daily operations.
Paytm crisis makes investors hunt for other fertile fintechs. Top 2 stocks on radar
Fino Payments Bank shares, which competes with Paytm, hit the 20% upper circuit limit at Rs 372.30. Jio Financial or JFSL shares rallied 16% to hit a fresh high of Rs 295 after a newspaper reported that One97 Communications is in talks with Jio to sell the Paytm wallet business.
Fino Payments Bank holdco says changes in board composition due to policy decision
Fino Payments Bank on April 30 had said that its shareholders rejected the proposals to increase the authorised share capital of the bank and alteration of capital clause of Memorandum of Association (MoA); as well as the reappointment of independent directors Mahendra Kumar Chouhan and Punita Kumar Sinha.
Fino Payments Bank rises 7% as firm to invest in PaySprint
Fino said is PaySprint is a 'profitable fintech'. It achieved an annual gross merchandise value of Rs 5,500 crore in its first full year of operations in FY22 and serves more than 600 customers, including banks, NBFCs and small businesses.
Market Movers: A small announcement helps ITC steal show on a dull day
If the company adds the cherry on top with some major demerger news, then today’s sentimental 5 per cent jump in the stock will look increasingly inadequate.
Fino Bank shares close at 5% discount in debut trade
The IPO of the fintech company had a relatively moderate response from investors as the offer was subscribed 2.03 times during October 28 to November 2.
Should you hold Fino Payment Bank shares for long term after weak listing?
Following the muted and range-bound trade, investors were on their toes. They were worried if their trading strategy should be to sell or hold Fino Payments Bank. Analysts said a flat listing was expected.
Fino Payments Bank IPO: Here's how to check allotment status
Fino Payments Bank or FPBL is a scheduled commercial bank serving the emerging Indian market with its digital-based financial services.
Fino Payments Bank IPO sails through on Day 3
Fino Payments Bank is looking to raise Rs 1,200 crore from the primary markets. The IPO is a mix of fresh issues worth Rs 300 crore, whereas its promoter Fino Paytech will offload 1,56,02,999 equity shares worth Rs 900.29 crore.
Fino Payments Bank IPO closes today: What grey market trend & analysts suggest
There are miniscule chances of a listing pop in the Fino Payments Bank as there are no trades for the counter in the unofficial space, says sources in the grey market.
Fino Payments Bank IPO subscribed 87% on Day 2
As per the data provided by National Stock Exchange (NSE), investors made bids for 99,90,600 equity shares as of 5:00 pm, against the total issue size of 1,14,64,664 equity shares.
Fino Payments Bank subscribed 51% on Day 1
The data from NSE suggested that the retail portion was subscribed 0.86 per cent, whereas NII and QIB quota did not receive any bids till the time of writing this report.
Fino Payments Bank IPO opens today: Should you give it a try?
The three-day IPO of Fino Payments Bank will kick off on Friday, October 29 and will run till Tuesday, November 2.
Fino Payments Bank IPO to open on Oct 29: All you need to know about the issue
The IPO comprises a fresh issue worth Rs 300 crore and an offer for sale of up to 1,56,02,999 shares, worth Rs 900.29 crore. At the upper end of the price band, the issue size stands at Rs 1,200.29 crore.
Fino Payments Bank IPO to open on Oct 29, price band announced
Fino Payments Bank plans to utilise the net proceeds from its fresh issue for augmenting its Tier–I capital base to meet future capital requirements.
Fino Paytech unlisted shares rise 20% after nod to its payments bank IPO
The unlisted shares of Fino Paytech soared about 20 per cent to Rs 380-400 in the unlisted market within hours of the Sebi nod.
IPO-bound Fino PayTech to raise Rs 75 crore via right issue
Fino PayTech is eyeing to raise about Rs 74.75 crore by issuing 29,66,470 crore equity shares to eligible shareholders via a rights issue.
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