PhonePe Sells 5% Stake in MapmyIndia for INR 486 Crore
The move triggered an immediate reaction in the markets, with MapmyIndia's stock falling 9.39 per cent to close at INR 1,768.75 on the BSE on Friday
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Digital payments giant PhonePe has sold a 5 per cent stake in geospatial technology company MapmyIndia, netting INR 486.03 crore through an open market transaction. The sale, as per BSE data, saw PhonePe offload 27.21 lakh shares of CE Info Systems, MapmyIndia's parent, at INR 1,786.22 per share, reducing its total stake from 18.74 per cent to 13.74 per cent.
The move triggered an immediate reaction in the markets, with MapmyIndia's stock falling 9.39 per cent to close at INR 1,768.75 on BSE on Friday, as reported by Inc42. Despite the dip, the stake was quickly picked up, with more than 12.88 lakh shares acquired by three major mutual funds—Motilal Oswal, ICICI Prudential, and Tata Mutual Fund—at INR 1,785 per share. Motilal Oswal and ICICI Prudential each picked up 4.2 lakh shares, investing a total of INR 150 crore, while Tata Mutual Fund bought 4.48 lakh shares for nearly INR 80 crore.
The company works closely with government agencies and private enterprises to deliver location intelligence solutions, including digital twin technology—virtual replicas of real-world environments used for planning and crisis response.
The divestment comes during a period of internal transition at MapmyIndia. On April 1, Rohan Verma stepped down as CEO to lead the company's subsidiaries Mappls DT (formerly Vidteq) and Gtropy, both focused on emerging areas like digital twins, defence technology, and GPS-based fleet analytics. These units are expected to play a central role in the company's next phase of growth.
Despite recent shifts in leadership and ownership, the company's financial performance has remained strong. For Q4 of FY25, MapmyIndia reported a 28 per cent year-on-year increase in net profit to INR 49 crore and a 34 per cent rise in operating revenue to INR 143.6 crore. Full-year results showed a 10 per cent jump in net profit to INR 147.6 crore and a 22 per cent growth in operating revenue, reaching INR 463.3 crore.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 hours ago
- Yahoo
Tesla's $56K India Gamble: Will the Model Y Sell in a Price-Sensitive Market?
Tesla (NASDAQ:TSLA) is finally hitting the accelerator in India. After years of back-and-forth, the EV giant is opening its first showroom in Mumbai this July, followed by another in New Delhi. It's starting with the Model Yshipped straight from its Shanghai plantmarking the company's first official sales push into the world's third-largest car market. Internal documents and people familiar with the matter confirm that Tesla has also brought in Supercharger hardware, car accessories, and parts from the US, China, and the Netherlandslaying the groundwork for a broader rollout. This move follows Elon Musk's February meeting with Indian Prime Minister Narendra Modi and could signal the start of a long-term India strategy. But it won't be an easy ride. Each Model Y imported was declared at just under $32,000, but racked up over $25,000 in import duties due to India's 70% tariff on fully-built EVs. Final sticker price? North of $56,000 before tax and insurancenearly 50% more than the U.S. price post-incentives. For a market where EVs still make up just 5% of new car sales and luxury vehicles are under 2%, Tesla will need more than brand power to spark volume. Still, the company is quietly building momentum. It's securing warehouse space in Karnataka and Gurugram, boosting hiring across charging, retail, and policy teams, and sending execs from abroad to oversee showroom setup in luxury districts. The early signs point to a premium positioning play aimed at affluent Indian buyers. Whether that strategy holdsor pivotswill depend on how fast Tesla can shift from imports to local production. For now, it's a high-stakes, high-margin experiment in one of the world's fastest-growing auto markets. This article first appeared on GuruFocus.
Gizmodo
6 hours ago
- Gizmodo
Tesla Might Have a Fix for the Elon Musk Problem
Tesla is having a nightmarish year, and much of the damage can be traced directly to its CEO, Elon Musk. After spending nearly $290 million to help Donald Trump return to the White House, Musk took on a tailor-made role in the administration, heading the new Department of Government Efficiency (DOGE). His push to slash federal agencies and cut social programs, combined with his embrace of controversial theories, sparked global protests outside Tesla showrooms. The company's liberal customer base, once its greatest asset, felt alienated, with many owners publicly regretting their purchases. The backlash has been brutal. In the first quarter, Tesla's global sales fell 13%, and its net income plummeted a staggering 71% to $409 million compared to the previous year. The company's stock is down over 20% since January. With early data suggesting the slide isn't stopping, the reputational damage looks deep and lasting, even after Musk's spectacular falling out with the president and departure from the administration. But Tesla may have an escape plan. According to a new report from Bloomberg, the automaker is turning its sights to India. The company is preparing to open its first showroom in Mumbai by mid-July, with another planned for New Delhi shortly after. A first shipment of Chinese-made vehicles, primarily the best-selling Model Y SUV, has already been sent to the country. This move isn't just about expansion; it's a strategic pivot toward the third-largest auto market in the world, a market that could potentially offset cratering demand in Europe and stiffening competition from Chinese rival BYD. For years, Tesla's attempts to enter India have failed, snagged by disagreements over local manufacturing requirements and pricing. The breakthrough appears to have come in February, after Musk met with Indian Prime Minister Narendra Modi during his state visit to Washington. The two leaders spoke again by phone in April. 'Spoke to @elonmusk and talked about various issues,' Modi posted on X. 'We discussed the immense potential for collaboration in the areas of technology and innovation.' Spoke to @elonmusk and talked about various issues, including the topics we covered during our meeting in Washington DC earlier this year. We discussed the immense potential for collaboration in the areas of technology and innovation. India remains committed to advancing our… — Narendra Modi (@narendramodi) April 18, 2025Musk responded enthusiastically, saying, 'I am looking forward to visiting India later this year!' It was an honor to speak with PM Modi. I am looking forward to visiting India later this year! — Elon Musk (@elonmusk) April 19, 2025For a company desperately needing to change the narrative, this pivot to a massive, untapped market could be the lifeline it needs. The question is whether a new chapter in India can be enough to fix the damage done at home. Tesla did not immediately respond to Gizmodo's request for comment.
Yahoo
7 hours ago
- Yahoo
Tesla (NasdaqGS:TSLA) Set To Enter Indian Market With First Showrooms In July
Tesla is set to make a significant shift, entering the Indian market in July 2025 with new showrooms. This expansion comes at a time when the company's stock price rose by 30% over the last quarter, amid flat market performance in the past week and a 10% rise over the past year. The entry into India is aimed at countering declining sales in Europe and China, which could have influenced investor sentiment. Despite challenges such as a recent lawsuit and executive changes, this regional expansion might add weight to the broader market uptrend. Tesla has 2 risks we think you should know about. The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 27 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement. The recent announcement of Tesla's expansion into the Indian market is a significant development that could influence its broader growth narrative. Despite facing challenges in other regions, this move may provide a new revenue stream, potentially mitigating some of the pressures from decreasing sales in Europe and China. Over the past five years, Tesla's shares have seen a very large total return of 403.51%, illustrating substantial long-term growth. When comparing to the previous year, Tesla's share return also surpassed the market, which returned 10%, and the US Auto industry, which posted a 60.9% gain over the past year. This suggests persistent investor confidence in Tesla, supporting its trajectory even amid short-term volatility. The strategic entry into a new market such as India might bolster revenue and earnings forecasts, as analysts anticipate a 16.6% annual revenue growth over the next three years. However, potential risks including geopolitical uncertainties and leadership changes could impact execution. With Tesla's current share price at US$275.35, it is trading close to the analyst consensus price target of US$289.44, suggesting a modest upside of 4.9%. This share price movement reflects mixed sentiments among investors regarding the balance of growth potential and inherent risks. Tesla's diverse initiatives, ranging from autonomous vehicles to energy solutions, underline its pursuit of long-term profitability, suggesting a complex interplay of factors influencing its market position. Gain insights into Tesla's outlook and expected performance with our report on the company's earnings estimates. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:TSLA. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Connectez-vous pour accéder à votre portefeuille
