One97 Communications Limited (OCL), the parent company of digital payments and financial services provider Paytm, has been included in MSCI Global Standard Index along with eight other companies. Notably, the inclusion of a company’ stocks in the MSCI Index increases its attractiveness to foreign investors and potentially leads to increased capital inflows.
Currently at 4:40 pm, Paytm shares are trading at Rs. 914.80, reflecting a 2.25% increase. The company’s share price has demonstrated a remarkable 72% gain on year-to-date (YTD) basis. According to a wealth firm, Nuvama Alternative & Quantitative Research, Paytm could see $167 million in passive inflows, while projections from IIFL Alternative Research estimate potential stock inflows at $140 million.
Recently, Paytm had announced a notable 49% year-on-year decrease in its consolidated net loss, amounting to Rs. 292 crore for the quarter ending September 2023. Operating revenue experienced a substantial 32% YoY surge, reaching Rs. 2,519 Crore, fueled by an increase in GMV, merchant subscription revenues, and growth of loans distributed through its platform.
Eight other stocks that have been newly incorporated into the MSCI Global Standard Index include IndusInd Bank, Tata Motors ‘A’ (Tata Motors DVR), Suzlon Energy, APL Apollo Tubes, Macrotech Developers, Persistent Systems, Polycab India, and Tata Communications.
The official announcement was made on November 14 and the adjustments will be taking place on November 30, 2023.
