te Infibeam Avenues in focus: Why PayU’s acquisition of BillDesk is positive news for the company’s stock – check details here | Zee Business

Infibeam Avenues in focus: Why PayU’s acquisition of BillDesk is positive news for the company’s stock – check details here

In a big development in the digital payment industry, PayU has bought BillDesk for USD 4.7 billion, and with this news Infibeam Avenues comes into focus, says Zee Business Senior Research Analyst Kushal Gupta in a Zee Business exclusive news on Tuesday.

Infibeam Avenues in focus: Why PayU’s acquisition of BillDesk is positive news for the company’s stock – check details here
The stock on Tuesday closed almost 19 per cent higher to Rs 47.3 per share on the BSE: Zee Business

In a big development in the digital payment industry, PayU has bought BillDesk for USD 4.7 billion, and with this news Infibeam Avenues comes into focus, says Zee Business Senior Research Analyst Kushal Gupta in a Zee Business exclusive news on Tuesday.

Gupta says, if we go according to the media reports, Paytm, which is planning one of the biggest ever initial public offers (IPO) in the stock market industry, was aiming to acquire PayU, BillDesk and Infibeam Avenues. However, PayU taking over BillDesk, makes it Paytm’s competitor.

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Now, Paytm, which is waiting to get Securities and Exchanges Board of India (SEBI) approval for Rs 16800-crore, may takeover Infebeam Avenues before share sale to increase its valuation before IPO.

In this regard, Vikas Sethi, a Zee Business’ market analyst, says PayU buying BillDesk is positive news for Infibeam Avenues, the analyst has earlier recommended this stock and it had achieved a predicted target back then.

Amid its recent quarterly result, the company along with Reliance Jio, Google, and Facebook plans to create a new umbrella entity, for which an application has been made to the Reserve Bank of India, says Seth. 

The analyst further adds that if the company receives approval for the same then it will be game-changing for the company and will overall increase the valuation of the industry. He suggests to invest in the stock for medium to long-term gains going forward.

The stock on Tuesday closed almost 19 per cent higher to Rs 47.3 per share on the BSE as compared to a 1.16 per cent rise in the S&P BSE Sensex.

Written By: Vaibhav Gautam Bansode
Edited By: Shivendra Kumar
Updated: Tue, Aug 31, 2021
05:43 pm
Mumbai, ZeeBiz WebDesk
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