Dreamfolks shares recover 11% from intraday lows after company confirms ‘no clients lost'
Dreamfolks Services stock rebounded 11% from its intraday low after the company clarified to CNBC-TV18 that it has not lost any clients. As of 11:29 AM, the shares were trading 2.94% higher at Rs 243.00.
The company stated, 'All our contracts are in place, and it's business as usual for us.' This reassurance comes amid earlier media reports suggesting potential client exits. Investors took confidence in the clarification, helping the stock recover from steep losses.
The stock had earlier dropped following a June 19 PTI report claiming major banks and card networks—including ICICI Bank, Axis Bank, and Mastercard—were considering ending aggregator partnerships with DreamFolks to work directly with airport lounge operators. The report also suggested others might follow suit. The company's clarification helped restore investor confidence.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Ahmedabad Plane Crash
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
22 minutes ago
- Wall Street Journal
Fed's Waller Suggests Central Bank Could Cut Rates in July
Federal Reserve governor Christopher Waller said the central bank could be positioned to cut interest rates at its July meeting, notwithstanding potential inflation pressures from tariffs. 'I think we've got room to bring it down, and then we can kind of see what happens with inflation,' Waller told CNBC, saying the Fed should "look through" one-time price rises fueled by levies. 🔎 Read more:
CNBC
22 minutes ago
- CNBC
In race to attract data centers, states forfeit millions in tax revenue to tech companies
Pippa Stevens joins CNBC's 'Squawk on the Street' to discuss the tax breaks states are offering to Big Tech to build data centers, the debate around whether the tax breaks are a fair trade, and more.
CNBC
23 minutes ago
- CNBC
Everything we know about Tesla's robotaxi launch in Austin
Tesla's long-overdue robotaxi is finally hitting the streets this weekend, but the rollout may face some roadblocks. The Elon Musk-led electric vehicle company is expected to roll out robotaxis in Austin, Texas, on June 22, with the first driverless trip from the factory to a customer house expected on his birthday, June 28. Musk shared news of the tentative debut in a post to social media platform X last week. Here's what we know about the Tesla event so far. The launch will include a limited number of Tesla vehicles debuting in Austin on June 22. The initial rides will be in the Model Y and not the CyberCab that was unveiled in October. Access to the vehicles and rides is by invitation only. Some influencers on social media have reported receiving early access invites to test out the new service starting Sunday. The rides will also occur in a geofenced area of the city. Musk has long touted a driverless robotaxi, and the pressure is on the billionaire to deliver on his promises. As early as 2019, Musk said he was "very confident" that robotaxis would launch in 2020. In May, Musk confirmed plans to debut the service in Austin this month, with launches later set for Los Angeles and San Francisco. At the time, Musk said the service would launch with 10 vehicles circulating Austin. "It's prudent for us to start with a small number, confirm that things are going well and then scale it up," he told CNBC's David Faber. Wall Street analysts such as Wedbush's Dan Ives believe robotaxis will usher in the "golden era of autonomous for Tesla" that could power its market capitalization to more than $2 trillion by the end of next year. That's about double its market value from Wednesday's close. "There will be many setbacks ... but given its unmatched scale and scope globally we believe Tesla has the opportunity to own the autonomous market and down the road license its technology to other auto players both in the U.S. and around the globe," he wrote in a note. Tesla faces a bumpy road ahead, littered with federal regulatory hurdles and pushback from lawmakers. On Wednesday, a group of Democratic lawmakers in Texas called on Tesla to push off its robotaxi launch until Sept. 1, when Texas rolls out a new slate of self-driving laws. "We believe this is in the best interest of both public safety and building public transit operation," the group said in a letter addressed to Tesla's field quality director Eddie Gates. They also asked for "detailed information demonstrating that Tesla will be compliant with the new law" if it goes ahead with the launch. Public safety advocates protested the launch in Austin earlier this month. A group known as The Dawn Project, a tech safety organization that is critical of Tesla's autonomous capabilities, demonstrated a Tesla Model Y with currently available "Full Self Driving" software running past a stopped school bus and hitting a child-sized mannequin. The group said it was a situation where the software misread the elements in the road. Dawn Project founder Dan O'Dowd also runs Green Hills Software, a company that sells technology to Tesla competitors. Tesla's FSD capabilities, which feature a standard FSD or FSD supervised, include automatic steering and parking, but have been connected to accidents and fatalities, according to data tracked by the National Highway Traffic Safety Administration.
