Latest news with #DreamFolksServicesLtd
Business Upturn
12 hours ago
- Business
- Business Upturn
DreamFolks shares fall 5% despite denial of client loss reports
Shares of DreamFolks Services Ltd fell 5% on June 20, despite the company's clarification denying any loss of clients or material impact on its business operations. The stock drop followed a PTI report on June 19, which claimed that major banks and card networks, including ICICI Bank, Axis Bank, and Mastercard, were considering ending aggregator ties with DreamFolks to establish direct partnerships with airport lounge operators. The report also suggested others might follow the same approach. In response, DreamFolks swiftly issued a statement via stock exchanges, strongly refuting the claims. The company said, 'Contract negotiation is a part of the regular business process and has no relation to the alleged news.' It added that client relationships remain robust, with more than 50 active clients under five-year Master Service Agreements (MSAs) that include annual price escalations. DreamFolks emphasized that this structure has been in place since its inception, and there has been no disruption or termination of existing contracts. Dreamfolks shares opened at ₹230.00 and, at the time of writing, touched a high of ₹235.70 before dipping to a low of ₹220.30 in today's trade. The stock remains under pressure, trading significantly below its 52-week high of ₹522.15. 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
Business Upturn
a day ago
- Business
- Business Upturn
Why DreamFolks shares fell 11% sharply today? Details here
DreamFolks Services Ltd shares plunged 11% following reports that leading Indian banks and card networks may sever ties with the airport service aggregator. As per Rediff Money reports, ICICI Bank, Axis Bank, and Mastercard are considering direct partnerships with airport lounge operators, potentially bypassing DreamFolks entirely. This shift could significantly impact DreamFolks' business model, which relies on aggregating travel and lifestyle services, including lounge access, for banks and financial institutions. The move comes months after a service disruption on September 22, 2023, temporarily halted lounge access for thousands of bank customers. Although the issue was resolved within a day, it reportedly prompted banks and card networks to evaluate more reliable alternatives. As per reports, more institutions may follow the lead of ICICI and Axis in cutting out intermediaries to ensure smoother customer experiences and better cost efficiencies. DreamFolks shares witnessed a volatile trading session, opening at ₹261.75 and, at the time of writing, reached a high of ₹267.00 before slipping to a low of ₹232.10. The stock closed significantly lower, reflecting notable market pressure. Over the past 52 weeks, DreamFolks has seen a high of ₹522.15 and a low of ₹209.08. 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
