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When Jack Ma visited India in November, he said he was keen to do business with companies here. In just two months, the Chief Executive Officer of Alibaba has made good his intention by taking a 25 per cent stake in Paytm, a mobile commerce company.
Ant Financial Services, part of Jack Ma’s Alibaba Group, has bought the stake in One97 Communications, which owns Paytm. Sources close to the deal told that Alibaba is investing around $700 million. This is Ant Financial’s first investment in an Indian company.
The deal values One97 at more than $2 billion, taking it to the big league in the Indian start-up universe. Paytm will use the funds to grow its mobile payment ecosystem and boost its commerce user-base, the companies said in a joint statement. “With over one billion people, India’s payments market has vast untapped potential,” said Cyril Han, Vice-President of Ant Financial. “We see a great opportunity in the mobile wallet space and Paytm, as a leader in this field, is best equipped to build a mobile payments ecosystem in the country.
According to IDC, with 72.5 million units, India was the fastest growing smartphone market in Asia-Pacific in the third quarter 2014; the market had grown 15 per cent quarter-on-quarter and 9 per cent year-on-year.
Though it is early days, initial indications are that the worrisome El Niño weather phenomenon could remain ‘neutral’ during India’s next southwest monsoon. This means a better chance of a normal monsoon in 2015.
The Australian Weather Bureau's latest forecast is that international models surveyed by it indicate tropical Pacific sea surface temperatures (a critical indicator of El Niño) are likely to be within the neutral range for at least the next three months. This is a big positive for India, as data for 1880 to 2005, compiled by private weather forecaster Skymet, show 90 per cent of all evolving El Niño years have led to below-normal rainfall, with 65 per cent of these resulting in drought. In the past decade, 2002, 2004 and 2009 were drought years due to El Niño emergence.
The four-month southwest monsoon season begins from June and provides almost 70 per cent of the country's total annual rain. They are crucial for growth of the kharif crops, planted during the season, and for the moisture to the soil for the following rabi season.
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What To Do Today..........
Our Opininon for Today's Market.......
1.Market Looks Volatile.....
1.Some Insider Say NIfTy go up to 6200
What To Do Today........
Nifty....Today Face Resistance at......8788..8835..8895
Nifty.....Today Support at ..8645...8610...8555
Nifty Range...7200--------9200
TRACK ME RESEARCH......
NEXT TGT FOR
Our Opinion for Today's Market.......
1.Stock Specific Movement Expected Today ......
2. Mid-caps Looks Good....
INTRADAY HOT STOCKS : 6/2/2015
buy ongc sl 340 tgt 360/365+ sell below 339
buy petronet sl 180 tgt 189/194 sell below 177
buy dlf sl 162 tgt 180+sell below 158
sell irb below 247 tgt 242/238 sl 251 buy ab 254
L&T FINANCE HOLDINGS
(BSE TICKER-533519@ Rs.65/-)
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Rs.90/120/- Rs.150/-
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MARKSANS PHARMA
(Bse Ticker-524404@ Rs.18.80)
TARGET
Rs.21/- Rs.24/30/35/40/80 /140SL Rs.15/-
