₹ 1,000: That’s the level Paytm shares reclaimed on 16 July, crossing the mark for the first time in over six months. The stock has climbed 9% this month, extending a steady recovery since its May 2024 low of ₹ 310. The recent rally was fueled by the buzz around Paytm’s likely upgrade to the MSCI Standard Index, which could draw $212 million in inflows, Mint reported, citing Motilal Oswal estimates. Mutual funds raised stakes in the company in Q1, and analysts expect Paytm to report its first profit after tax, driven by operating leverage and steady merchant growth. Fund frenzy Jio BlackRock, the equal joint venture between Jio Financial Services and global investment giant BlackRock, has made a strong debut, raising ₹ 17,800 crore through its first three debt-oriented schemes. This has placed it among India’s top 30 fund houses by AUM, according to an analysis by howindialives.com. Backed by Reliance Jio’s 475 million-strong user base and BlackRock’s investment tech, the venture aims to shake up the mutual fund market. Jio Financial’s stock, which had been declining due to operational delays, has rebounded sharply in the past four months. Narrowing deficit India’s merchandise trade deficit narrowed to $18.78 billion in June, down nearly 10% from a year ago. This was mainly due to a sharper fall in imports. While exports were nearly flat at $35.1 billion, imports fell 3.7% to $53.9 billion. Exports growth was hindered by a 15.9% decline in exports of petroleum products. Exports of nonpetroleum products grew 2.9%, albeit slower than 5.0% the previous month. Imports also declined mainly due to petroleum products. Jane jinx