Paytm, a leading Indian digital payments company, has secured approval from a government panel overseeing investments linked to China to invest 500 million rupees ($6 million) in a key subsidiary. This move comes as a significant development in the stock market, with three sources confirming the news.
The Sensex today saw railway stocks trading with cuts, while oil prices slipped due to easing concerns over hurricane damage in Texas. Brent futures fell by 0.6% to $85.26 a barrel, and U.S. West Texas Intermediate crude slipped by 0.7% to $81.79.
In other updates, Tata Motors revised the starting prices of its SUVs, and the monthly SIP crossed Rs. 21,000 crore for the first time. Mutual fund data for June showed SIP inflows at Rs. 21,260 crore, while large-cap fund inflow stood at Rs. 970.5 crore.
European shares fell ahead of an important testimony by U.S. Federal Reserve Chair Jerome Powell, with Indivior dropping to three-year lows after slashing its profit forecast. The pan-European STOXX 600 index fell by 0.3%, with energy stocks leading the losses.
Overall, the stock market today is witnessing various movements and developments, with companies like Larsen & Toubro, Vedanta, and Infibeam Avenues making significant announcements. Investors are closely monitoring these updates to make informed decisions in the market.
