Infibeam Avenues: Infibeam Avenues Soars 8% on RBI Approval for Payment Aggregator License
Infibeam Avenues finally received the Payment Aggregator license from RBI for all payments transactions. Now operating under Bharat pay bill system and CC Avenue for Payments using AI Powered technology.
Infibeam Avenues Surges 8% After Securing RBI Approval for Payment Aggregator License
On March 5, Infibeam Avenues witnessed an 8% surge as the Reserve Bank of India (RBI) granted the final authorization for its payment aggregator license under the Payment Settlements Act, 2007 for CCAvenue, a day after the AI-powered fintech company received the approval.
INFIBEAM AVENUES is moving in Ascending channel and market has reached higher high area of the channel
Having received in-principle approval in October 2022, the RBI’s recent grant of the final Payment Aggregator license marks a significant milestone. The central bank introduced the payment aggregator framework in March 2020, requiring payment gateways to obtain an aggregator license.
Infibeam Avenues currently boasts over 10 million merchants on its platform, with substantial growth attributed to strengthened relationships with bank partners and merchants. Additionally, the company recently received RBI approval to function as an Operating Unit under the Bharat Bill Pay license.
The company’s strategic moves include the approval for a 20% stake acquisition in XDuce Corporation, a US-based enterprise app and AI development company, as well as the incorporation of a wholly-owned subsidiary in IFSC, GIFT CITY, Gandhinagar, focused on payment services as a Payment Service Provider (PSP). Furthermore, the board approved the divestment of 85,000 equity shares in Fable Fintech Private Limited, discontinuing its association with the company.
Brigade: Brigade Enterprises Surges on 6.1M Sqft Housing Project Launch
The Brigade Enterprises has launched the new Project Dioro- Brigade El darado in size of 6.1 million project. This project is completed by Q2 FY 2029.
On March 5, shares of real estate developer Brigade Enterprises experienced a nearly 1 percent increase during early trade following the launch of the ‘Dioro’ project at Brigade El Dorado, covering an expansive area of approximately 6.1 million square feet.
Brigade Enterprises has estimated the potential revenue of the Dioro project at Brigade El Dorado, which includes 525 two-bedroom and three-bedroom units housed in two towers, to be around Rs 380 crore.
Anticipated to be completed by Q2 FY29, the project is an integral part of the township and is equipped with a diverse array of over 80 amenities. These include a hospital, a central park, a multiplex, sports facilities, and retail establishments, according to the company.
BRIGADE ENTERPRISE is moving in Ascending channel and market has reached higher low area of the channel
Furthermore, on February 21, Brigade Group entered into a joint development agreement with PVP Ventures Ltd for the development of a high-rise residential project spanning 2.5 million square feet in Chennai.
In its financial report for the quarter ending December, the company disclosed a notable 31 percent increase in consolidated net profit, amounting to Rs 55.79 crore.
Tatamotors: Tata Motors Hits 52-Week High on Demerger News, Positive Broker Sentiment
The Tatamotors announced the plan of Demerger between Passenger and commercial vehicles in this year. So it is positive for Investors for Bonus shares to announced by company after the Demerger.
Tata Motors Hits 52-Week High, Up 4% on Demerger Announcement
Tata Motors witnessed a 4 percent surge, reaching a 52-week high of Rs 1,027 on March 5, a day after revealing plans to separate its passenger and commercial vehicle businesses. The decision garnered positive reactions from brokerages and investors.
JP Morgan assigned an “overweight” rating with a target price of Rs 1,000, indicating a 1.2 percent upside. Meanwhile, Morgan Stanley sees the demerger as a move showcasing confidence in the personal vehicle segment’s self-sustainability, assigning a target price of Rs 1,013.
TATA MOTORS is moving in Ascending channel and market has reached higher high area of the channel
Nomura holds a “buy” call with a target price of Rs 1,057, anticipating increased strategic freedom for the businesses in the medium term. Some, however, are cautious, with Investec giving a “hold” recommendation and InCred having a “reduce” call, suggesting potential shifts in valuations post-demerger.
The proposed demerger, set to be executed through an NCLT scheme of arrangement, may take an additional 12-15 months to complete, subject to necessary approvals.
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