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The Ospreys in new sponsorship deal with JCP Solicitors

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The Swansea headquartered law firm has agreed a six-figure official club partner deal with the region

The Ospreys has been boosted with a new six-figure sponsorship deal with law firm JCP Solicitors.

The rugby region, which for the coming 2026-27 season will play at a revamped St Helens ground, has entered into a five year agreement with the Swansea headquartered legal firm.

The ground is being redeveloped, including a new south stand and 3G pitch, following a £7.6m investment from the Ospreys and Swansea Council, with the local authority having committed just over £5m.

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As well as being home to the Ospreys, Swansea RFC will also return to its historic home with the ground and its improved facilities also being used for other sports and wellbeing activities.

The Ospreys has entered into a 50-lease at the council owned ground.

As part of its official club partner deal JCP Solicitors, which has a network of offices across south Wales, will have the ground’s new south stand named after it. JCP branding will also appear on the sleeve of all first team Ospreys shirts in 2026 and replica shirts from 2027.

Hayley Davies, director and chief executive, at JCP Solicitors, said: “As a Swansea-headquartered business, we could not be prouder to support our iconic local team as an official Partner with this major five-year deal.

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“Much like the residents, businesses and communities across Swansea, Neath Port Talbot and Bridgend who have stood beside the Ospreys during the recent period of uncertainty, we are delighted to show our support to the team following this challenging period.

“We look forward to supporting the Ospreys with colleagues, professionals, clients and friends at the new St Helen’s Stadium, building stronger connections through sport.”

Richard Lancaster, managing director (business) at the Ospreys, said: “We are thrilled with this major deal and to welcome JCP Solicitors as an official partner. JCP is a business that has built a strong reputation across south and west Wales, and the commitment to a long-term partnership reflects real confidence in the Ospreys, our ambitions, and our future.

“Support from respected regional organisations like JCP is vital in helping us continue to grow both on and off the pitch, and we look forward to working together over the next five years.”

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The WRU is still planning to reduce the number of regions from four to three, from the start of the 2028/29 season, by having just one club in west Wales.

With the Scarlets and the Ospreys at this stage having no plans to merge, this could seem them having to bid against each other – assuming they both agreed to participate – for one licence in west Wales.

The WRU said it will shortly publish details on the bidding process and how any competing bids would be scored. The union said it will open the process in December with a decision on the west Wales license holder next spring.

It comes as Swansea Council, which could be potentially joined by other parties, has restarted a legal action against the union claiming that with the governing body effectively protecting the Dragons and Cardiff, which the WRU owns, it has breached competition law. The union is confident it will oversee the challenge.

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Separately the so called coalition of the willing, that includes former chief operating officer of Hodge Bank and Principality Society, Rob Regan, and founder of GoCompare Hayley Parsons, is seeking support from union member clubs for an EGM with a motion to oust the union’s board.

If successful, and it would require a majority vote of clubs at an EGM ,they would install a new interim board and pause plans to cut a region. They would then interrogate the data underpinning the union’s decision, as well as exploring other funding avenues – including a possible rugby bond – with the aiming of maintaining four regions for the long-term.

However, they said that cutting a region couldn’t be ruled out.

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Cake shed owners warned over HMRC self-assessment bills

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People selling home-baked cakes from roadside cabinets could face tax bills, penalties and interest from HMRC if they have not registered for self-assessment, according to audit, tax and business advisory firm Blick Rothenberg, which pointed to the 5 October registration deadline.

People selling home-baked cakes from roadside cabinets could face tax bills, penalties and interest from HMRC if they have not registered for self-assessment, according to audit, tax and business advisory firm Blick Rothenberg, which pointed to the 5 October registration deadline.

Fiona Fernie, a partner at the firm, said sellers using an outdoor cabinet or “cake shed” need to be aware that HMRC has several ways of checking whether people with side-hustles are fully tax compliant.

She said: “Not registering for self-assessment when required to do so is a ‘half baked’ idea. HMRC can review council registration, and health & safety records.”

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How HMRC checks sellers

Ms Fernie said income from cottage industry sales such as baking and selling cakes is classed as trading income and should be disclosed to HMRC each year on a self-assessment tax return.

She said some sellers do not disclose the income, “wrongly thinking they won’t get caught with their hand in the biscuit tin.”

“HMRC will compare the information they glean from councils with their self-assessment records to determine if sellers have paid the correct amount of tax on the income received,” she said.

According to Ms Fernie, people are required to register for self-assessment if their gross income from self-employed work is more than £1,000 per tax year. HMRC’s guidance on the trading allowance states that anyone whose gross trading income exceeds £1,000 must register and declare it on a tax return.

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Business Matters has previously reported on research suggesting many content creators earning above the £1,000 threshold have not registered.

Penalties and deadlines

Ms Fernie said failing to register can result in penalties of between 20 per cent and 70 per cent of the tax due where HMRC judges the behaviour to have been “deliberate but not concealed”. She added: “the unpalatable ‘icing on the top’ is significant interest charges where tax is paid late.”

GOV.UK states that people who need to register for self-assessment for the 2025 to 2026 tax year, which ended on 5 April 2026, must tell HMRC by 5 October 2026.

Ms Fernie said those affected should contact HMRC as soon as possible. She added that there are unlikely to be serious adverse repercussions as long as sellers file their tax returns with the relevant income declared by the 31 January filing deadline.

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HMRC has previously said that around one million people missed the self-assessment deadline in January this year, triggering automatic £100 penalties.

Ms Fernie said: “In cases where no return has been filed it will be extremely easy for HMRC to prove that a taxpayer has failed to notify their liability to income tax.”

She said that where taxpayers have been sent a return but left out some or all of their baking income, “it will not be a complicated exercise for HMRC to check for discrepancies and penalise where there have been errors in returns.”

Licences and costs

Ms Fernie said sellers with gross trading receipts of £1,000 or less in a tax year benefit from an exemption, while those above the threshold “would be wise to seek advice as to what needs to be disclosed to HMRC.”

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She said this was particularly important because some councils in England are reviewing their street trading policies and insisting that cake sheds require a licence.

“The costs associated with a licence, relevant health and safety food hygiene accreditation, insurance and the cost of packaging which clearly indicates potential allergens in the ingredients, together with the more obvious costs of ingredients, bakeware and electricity all add up to a considerable amount,” she said.

According to Ms Fernie, a tax bill on top of those costs may make some of the enterprises unviable, meaning “keen bakers will have to revert to having their cake and eating it too.”

Amy Ingham
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Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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EU proposes unprecedented ‘associate member’ status for Canada amid US trade dispute

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EU proposes unprecedented 'associate member' status for Canada amid US trade dispute

European Commission President Ursula von der Leyen on Wednesday proposed opening the door for Canada to become the European Union’s first “associate member,” a significant step that could bring Ottawa substantially closer to the bloc as its trade dispute with the U.S. shows no signs of abating. 

Speaking in Strasbourg during her annual State of the European Union address, von der Leyen addressed Canadian Prime Minister Mark Carney, who was in the chamber, and called for a major expansion of economic, technological and security cooperation between Canada and the EU.

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“I would like to work with you on opening the door for Canada to be the first associate member of the EU,” von der Leyen said, drawing a standing ovation from EU lawmakers before walking over to embrace Carney.

BILLIONAIRE WARNS ‘EVIL EMPIRE’ WANTS TO ‘CRIPPLE TRUMP,’ CALLS OUT AMERICA’S NORTHERN NEIGHBOR

European Commission President Ursula von der Leyen

European Commission President Ursula von der Leyen delivers a speech near Canada’s Prime Minister Mark Carney during her annual State of the Union address at a plenary session of the European Parliament in Strasbourg, eastern France, on September 16, (Jean-Christophe VERHAEGEN / AFP via Getty Images / Getty Images)

Von der Leyen said the two sides would move from their existing CETA trade agreement toward what she called an “Alliance for the Future,” aimed at creating a common prosperity and economic security space.

The proposed partnership would deepen cooperation for advanced manufacturing, defense production, energy, critical minerals, artificial intelligence, quantum technology, cybersecurity and the Arctic.

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“We see the world with the same eyes,” von der Leyen said, citing shared positions on issues ranging from Ukraine and defense to supply chains and climate change.

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Canada’s Prime Minister Mark Carney (L) shakes hands with a MEP as he arrives near EU Parliament President Roberta Metsola (C) during the European Commission president’s annual State of the Union address at a plenary session of the European Parliamen (Jean-Christophe VERHAEGEN / AFP via Getty Images / Getty Images)

“But above all … Europe and Canada believe in democracy,” she said. “This is a partnership not against anyone else, but for our common strength.”

The proposal comes as Canada seeks to diversify its trade away from its heavy reliance on the United States.

Carney has pledged to double Canada’s non-U.S. trade over the next decade following a breakdown in Canada-U.S. trade talks last month that triggered a series of tit-for-tat tariff measures.

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Earlier this week, Carney — who is scheduled to address the European Parliament on Thursday — said Canada was seeking a “unique alliance” with the EU, but not membership.

He said more detailed discussions are expected to begin at the Canada-EU summit in Montreal in late October.

canadian prime minister mark carney

Canada’s Prime Minister Mark Carney smiles as he listens to the European Commission president delivering a speech during her annual State of the Union address at a plenary session of the European Parliament in Strasbourg, eastern France, on September (Jean-Christophe VERHAEGEN / AFP via Getty Images / Getty Images)

But the proposal still faces significant legal and political questions. The EU has historically resisted flexible alliances without a defined legal status. 

Speaking to Reuters on the matter, one EU diplomat expressed surprise at von der Leyen’s announcement, saying the proposal was too vague and warned that the Commission president was “overpromising and won’t be able to deliver.”

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Deeper economic integration could also face longstanding trade obstacles. Mark Manger, a professor of political economy and global affairs at the University of Toronto, told Reuters that EU officials have been frustrated by Canada’s protection of its telecommunications and dairy sectors — issues that could complicate efforts to further deepen economic ties.

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It will ultimately be up to EU member states whether the proposal moves forward.

Reuters contributed to this report. 

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Complaints to watchdog about water firms soar

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The number of complaints made by households about water companies to the industry watchdog has risen by a record 84% in a year, driven by customer concern and confusion over rising bills.

The Consumer Council for Water (CCW) said the year-on-year increase was the highest in its 20-year history and showed “just how dissatisfied” many people were.

Water customers in England and Wales have been hit with steep price hikes in recent years. The regulator Ofwat has also allowed firms to put up bills by 36% between 2025 and 2030.

Water UK, which represents firms, said it understood that higher bills was never welcome, but the money was needed “to fund vital upgrades”.

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The total number of complaints to the watchdog rose to 15,115 in 2025-26, from 8,235 in the previous year.

Meanwhile, complaints made by households directly to water companies, which is required before complaining to the CCW, rose by 56% to 321,347.

The top three subjects of complaints to the CCW were measured billing, affordability and billing admin.

Mike Keil, the chief executive of the CCW, said the figures “reflect just how dissatisfied many people still are with the state of the water sector”.

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He said customers are “impatient to see the benefits” of higher bills.

“Companies need to be clear and open with their customers about how they are investing people’s money to deliver real improvements.”

The CCW assessed each water company’s performance on the number of complaints it received for every 10,000 households it serves, and the amount of effort customers have to put in to get their complaint resolved.

Thames Water and South West Water rated “poor” for both performance measures.

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David Bird, retail director at Thames, apologised to customers who “have not received the service they should expect”.

“We know bill clarity has been a particular source of frustration, which is why we have launched a programme to redesign them, so they are easier to understand,” he said.

Bills for the average Thames customer rose by 31% in 2024, but were a lot smaller this year at 3.4%.

South West Water said: “We know there is more to do to improve our customers’ experience. We are taking action by reducing repeat contacts, resolving issues when people contact us for the first time, and ensuring they receive clear, timely communication.”

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Portsmouth Water and Bristol Water were the only companies to score “good” in both metrics, retaining their position at the top of the rankings as the sector’s best performers.

Last month, Ofwat approved bill increases for 13 companies to meet increased pressures on infrastructure and the environment.

Five of those companies — Thames, Severn Trent Water, Southern Water, Wessex Water and South East Water — were already permitted to hike bills in 2024.

A spokesperson for industry body Water UK said: “We understand increasing bills is never welcome, but the money is needed to fund vital upgrades to secure our water supplies, support economic growth and end sewage entering our rivers and seas.

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The spokesperson said that 94% of complaints are “being dealt with at the earliest possible stage without the need for further involvement from the consumer body”.

“The industry remains committed to improving communication with customers and showing clearly how their money is being used to deliver the improvements they expect,” the spokesperson added.

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Paytm, MobiKwik, Pine Labs shares rally up to 6% after govt announces UPI fees above Rs 2,000. Why brokerages are bullish

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Paytm, MobiKwik, Pine Labs shares rally up to 6% after govt announces UPI fees above Rs 2,000. Why brokerages are bullish
Shares of Paytm, MobiKwik and Pine Labs rallied up to 6% on Wednesday after the government announced the first-ever Merchant Discount Rate (MDR) on select UPI transactions above Rs 2,000.

In today’s early session, Paytm rose 6% to a day’s high of Rs 1,829 per share, while One MobiKwik Systems rose over 5% to Rs 213 on the BSE. Pine Labs gained nearly 3% to Rs 199 per share on the NSE.

The National Payments Corporation of India (NPCI) on Tuesday announced that the government will introduce MDR on some Person-to-Merchant (P2M) UPI transactions from October 15 onwards, with merchants paying 0.4% on transactions above Rs 2,000. The maximum fee that can be levied on such transactions will be Rs 300 for payments of Rs 75,000 or more.

Also read | UPI transactions above Rs 2,000 to attract 0.4% MDR; check key details

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What new UPI charges mean for consumers?

It is important to note that consumers will not be charged for UPI payments, and Person-to-Person (P2P) transfers will remain free. Small merchants classified under the P2PM framework, including vendors that receive up to Rs 1 lakh a month through UPI QR codes, will continue to be exempt from MDR.


Transactions worth up to Rs 2,000 will continue to carry zero charges and account for more than 95% of UPI’s P2M transaction volume, according to the FAQ released by the government. The NPCI clarified that MDR will be borne by merchants and cannot be passed on to customers. This implies that consumers will continue to pay the listed price when using UPI, with no separate transaction or platform fee imposed by UPI apps.

RBI backs MDR charges

The Reserve Bank of India (RBI) backed the introduction of Merchant Discount Rate (MDR) on large-value UPI transactions, saying the move will help strengthen the long-term sustainability of India’s digital payments ecosystem. In a post on X, the central bank said the move would enable UPI to continue scaling, innovating and serving consumers and businesses across the country.The latest move comes after an amendment to the Payment and Settlement Systems Act, 2007, which provides a framework for imposing a Merchant Discount Rate (MDR) on payments through UPI and other notified electronic payment modes. The government, in a statement, explained the rationale for imposing charges, stating that with exponential transaction volumes, the system requires significant and continuous upgrades in cybersecurity, fraud prevention, and infrastructure.

Charges were required for market expansion and self-sustainability, it said, adding that it is necessary to increase competition by encouraging more companies to expand operations, which requires a self-sustaining revenue model. Reliance on subsidies alone is not viable for the next wave of growth, and a balanced framework is required to ensure that UPI remains robust, inclusive and future-ready, the statement further said.

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Also read | UPI Charges Explained: Will you pay a fee for Rs 2,000+ UPI payments? Government clarifies what users need to know

‘Someone has to pay the cost’

For nearly seven years, UPI became more and more popular as a transaction could be made so quickly without paying any additional charges. The government has however, repeatedly clarified that UPI will remain free for citizens and person-to-person transactions will continue without charges.

While discussing the costs of digital-payment infrastructure, RBI Governor Sanjay Malhotra in August said, “Someone has to pay the cost”. He stressed that the RBI wants digital payments to remain accessible, affordable and safe, but also sustainable.

What lies ahead?

According to Bernstein, banks could receive about Rs 14,000 crore of this pool, while payment apps could earn around Rs 7,000 crore, and the network about Rs 1,000 crore. Emkay Global Research meanwhile said the latest move will likely benefit Paytm and Pine Labs, while maintaining its ‘Buy’ calls on the stocks and increasing target prices to Rs 2,400 and Rs 230 respectively.

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“UPI acquiring now carries a commercial revenue model that is contractual, recurring, and scales with value, in place of a discretionary annual subsidy. This will make the payment business structurally self-sustaining, making the business model much more resilient,” the domestic brokerage said, adding that even on conservative assumptions, it estimates Paytm to generate UPI MDR revenue of Rs 1,120 crore in FY28, and expects Pine Labs to generate Rs 155 crore in the same year.

Bullish brokerage calls for Paytm share price

JM Financial also increased its target price for the shares of Paytm to Rs 2,150 apiece, implying more than 24% upside potential from the stock’s previous closing price, while maintaining its ‘Buy’ call on the stock. The notified MDR rate is materially above the 25 bps JM Financial had modelled in, but the carve-outs are also broader than assumed, forcing our hand to cut the eligible-GMV overlay to 20% (from 30% earlier).

The new charges on UPI transactions are expected to generate incremental revenue of Rs 2.1 billion in FY27 and Rs 4.7 billion in FY28, according to the domestic brokerage. “MDR converts a structurally zero-revenue GMV pool into ‘monetisable’ volume with nearly full flowthrough to EBITDA, not to mention a clear resolution to the long-standing regulatory overhang on UPI monetisation,” it added.

Jefferies recently increased its price target for the shares of Paytm to Rs 2,100 apiece from Rs 1,600 apiece, while maintaining its ‘Buy’ call. The international brokerage highlighted that Paytm stands out on monetisation of its client base in near-zero MDR regime, which is now changing favourably. The fintech platform’s 4.9 crore merchant base and strong loan-origination model should drive 25% revenue CAGR over FY26-29, which, along with operational synergies will aid sharp rise in EBITDA and profit, it added.

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Initiative in credit on UPI, cloud AI inference models, wealth offering and foray into overseas markets can lift growth, the international brokerage said, as it increased earnings estimates for FY28-29 by 20-25% to factor 25 bps MDR on UPI.

Bernstein recently named Paytm its top pick, citing robust merchant lending growth, operating leverage and the potential introduction of MDR on UPI as key drivers of earnings growth.

With a target price of Rs 2,200, Bernstein expects Paytm’s EPS to reach Rs 78 by FY29. Even after excluding any potential impact from MDR on UPI, its FY29E EPS estimate stands at Rs 54, still above the Rs 46 consensus estimate.

Also read | RBI backs MDR on large-value UPI transactions, says could help expand UPI acceptance

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Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.

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Vulcan Materials: Sell-Off Creates Renewed Opportunity

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Dollar Tree: Buy The Recent Weakness

Vulcan Materials: Sell-Off Creates Renewed Opportunity

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Paytm shares jump 7% as Jefferies, other brokerages raise target prices and earnings estimates after new UPI charges

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Paytm shares jump 7% as Jefferies, other brokerages raise target prices and earnings estimates after new UPI charges
Paytm shares sharply rallied more than 7% on Wednesday as brokerages issued bullish notes and increased target prices for the fintech stock after the government announced the first-ever Merchant Discount Rate (MDR) on select UPI transactions above Rs 2,000.

The company’s shares rallied sharply to Rs 1,855.50 apiece on NSE, on track to record the sharpest single-day jump since August 10, when they surged 10% after Bernstein gave its first-ever price target above the company’s original IPO price.

The government will introduce MDR on some Person-to-Merchant (P2M) UPI transactions from October 15 onwards, with merchants paying 0.4% on transactions above Rs 2,000, the National Payments Corporation of India (NPCI) announced on Tuesday. A maximum fee of Rs 300 can be levied on such transactions of Rs 75,000 or more.

Also read | Paytm, Mobikwik, Pine Labs shares rally up to 7% after govt announces UPI fees above Rs 2,000. Why brokerages are bullish

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What Paytm said on new MDR charges

Paytm, in an exchange filing on Tuesday, said the government’s latest move will generate additional revenue from the merchant business for many of the payment transactions that were free earlier. The fintech platform highlighted that no charge will be levied on customers for UPI payments, which shall continue to remain free of charge for them.


NPCI announced that consumers will not be charged for making UPI payments, while Person-to-Person (P2P) transfers will also remain free. Small merchants classified under the P2PM framework, including vendors receiving up to Rs 1 lakh a month through UPI QR codes, will continue to be protected from MDR.

Jefferies on Paytm share price

Jefferies maintained its ‘Buy’ call on Paytm shares, and increased its target price to Rs 2,150 apiece, implying over 24% upside potential. After recently increasing earnings estimates for the fintech platform, Jefferies again increased its earnings estimates for FY28-29 by 10-12% to factor in a 40 bps revenue pool even after making adjustments for exemptions, competitive pricing and other aspects.The international brokerage also raised FY27 profit estimate by 18%, factoring in a slight benefit in FY27 as well. It also raised the target price for Pine Labs to Rs 235 apiece.

Also read | UPI Charges Explained: Will you pay a fee for Rs 2,000+ UPI payments? Government clarifies what users need to know

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JM Financial on Paytm share price

JM Financial increased its target price for the shares of Paytm to Rs 2,150 apiece, implying more than 24% upside potential from the stock’s previous closing price, while maintaining its ‘Buy’ call on the stock. The notified MDR rate is materially above the 25 bps JM Financial had modelled in, but the carve-outs are also broader than assumed, forcing our hand to cut the eligible-GMV overlay to 20% (from 30% earlier).

The new charges on UPI transactions are expected to generate incremental revenue of Rs 2.1 billion in FY27 and Rs 4.7 billion in FY28, according to the domestic brokerage. “MDR converts a structurally zero-revenue GMV pool into ‘monetisable’ volume with nearly full flow-through to EBITDA, not to mention a clear resolution to the long-standing regulatory overhang on UPI monetisation,” it added.

Emkay Global on Paytm share price

Emkay Global Research meanwhile said the latest move will likely benefit Paytm and Pine Labs, while maintaining its ‘Buy’ calls on the stocks and increasing target prices to Rs 2,400 and Rs 230 respectively. The latest target price for Paytm implies around 39% upside potential.

“UPI acquiring now carries a commercial revenue model that is contractual, recurring, and scales with value, in place of a discretionary annual subsidy. This will make the payment business structurally self-sustaining, making the business model much more resilient,” the domestic brokerage said, adding that even on conservative assumptions, it estimates Paytm to generate UPI MDR revenue of Rs 1,120 crore in FY28, and expects Pine Labs to generate Rs 155 crore in the same year.

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Also read | New charges on UPI payments: Here’s what you will be charged for stock market investments

Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.

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Morrisons sales growth accelerates as turnaround strategy continues

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The supermarket group reported like-for-like sales growth of 3.2% over the latest quarter, boosted by hot weather and the World Cup

A Morrisons store in Eastwood, Nottinghamshire

A Morrisons store in Eastwood, Nottinghamshire(Image: Joseph Raynor/ Nottingham Post)

Morrisons has posted its strongest sales growth in over a year as the supermarket chain’s turnaround continues to gain momentum.

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The heavily indebted retailer said it benefited from warm weather and the World Cup during the most recent quarter.

Chief executive Rami Baitieh said the group’s performance was “robust” and outpaced the broader UK grocery market following investment in competitive pricing.

The Bradford-based company reported that group like-for-like sales rose by 3.2% over the 13 weeks to 26 July, compared with the same period a year earlier.

Total sales climbed to £4.1bn for the quarter, the company added.

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Mr Baitieh said: “Our stronger sales momentum reflected a broad-based improvement across the business – with our supermarkets, online, convenience, pharmacy and Myton manufacturing businesses all reporting good growth, underlining our progress with our plans to renew and modernise Morrisons.

“We are pleased with our third quarter performance.

“Our stronger like-for-like sales, the combination of lower prices and volume growth, and our market share improvement, are all clear evidence that our strategy is delivering and that we remain on track with our plans.”

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Edison International: Buy The Panic, Collect 8%

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Edison International: Buy The Panic, Collect 8%

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NATO pathway opened for Australian defence industry

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NATO pathway opened for Australian defence industry

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