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Paytm’s MTU (monthly transacting users) has risen to 76 million as of June 2022, which were 70 million as of February 2022, suggesting limited or no impact of the RBI’s ban on Paytm Payments Bank on user acquisition, it said.

"It does not matter where the recovery comes through, this is not a market where you can buy at highs and make a profit. You need to wait patiently. If you have not bought anything, you need to wait it out and see when you get the right entry point."

Total revenue for the quarter grew 10.73 per cent YoY to Rs 10,761.76 crore compared with Rs 9,718.74 crore in the corresponding quarter last year. The revenue also beat the ET NOW poll projection of Rs 10,425 crore.

“Overall, the demand has been pretty good, the sentiments are very positive in rural India. There were some remarks received from some other quarters where the feeling was that the demand is not as high;, but we have seen very good demand, positive demand from all sectors and across geographies.”

As of 30-Jun-2022, promoters held 0.0 per cent stake in the company, while FIIs held 12.81 per cent and domestic institutional investors had 7.04 per cent.

Shares of Denso, a major supplier to Toyota Motor Corp, slipped 5.2% after the company lowered its operating profit forecast for the current business year by 14%.Toyota edged up 0.56% but rival Honda Motor fell 1.43%. Hino Motors lost 6.53% and Mitsubishi Motors dropped 5.74%.NEC fell 7.47% to become the worst performer on the Nikkei after the computer maker posted a quarterly loss.

After seeing record high FII outflows in June ($30.7 billion year-to-date), the number has tapered for July so far. RBI has been intervening aggressively in the spot and forwards market to ensure orderly depreciation of rupee, BofA Securities said.

Amit Jatia, Vice-Chairman of Westlife Development, said, “Our business performance in the last three quarters is a testament to the robust strategy we have been following as well as the trust and love we have managed to build for our iconic brand. We are proud to report our strong performance which reinforces the strength and resilience of our company."

The Nifty Pharma index was trading 0.49 per cent down at 12598.7.

“One can have a standalone debate on whether the compensation of a particular CEO of a particular organisation is justified or not, but there is a problem linking it to that of an entry level salary. Let me explain why. This alludes to the fact that India has a huge employability issue and a skill issue at the entry level.”