Latest news with #Srivastava
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Business Standard
15 hours ago
- Business
- Business Standard
US-Indonesia trade deal shows risks of pressure, India must be wary: GTRI
The US-Indonesia trade pact reflects how Washington's pressure tactics can compel countries to cut tariffs, commit to large purchases, and loosen regulatory control, and India should tread cautiously in ongoing trade talks to avoid similar concessions, economic think tank GTRI said on Wednesday. Indonesia gave up far more than it gained, removing 99 per cent of its tariffs on US goods, agreeing to buy $22.7 billion in American products, and weakening important rules that protected its industries, food safety, and digital space, the Global Trade Research Initiative (GTRI) said. "India now faces similar US demands, including allowing remanufactured goods, opening up agriculture and dairy, accepting genetically modified (GM) feed, and adopting US rules on digital trade and product standards," GTRI Founder Ajay Srivastava said. He added that accepting American standards on cars, medical devices, or food, without any guarantee of reciprocity, would put India's consumers at risk. "Handing over control of data under the name of digital trade would give foreign companies power over India's digital future. India must stay alert. Any trade agreement should be based on clear, public assessments of costs and benefits," Srivastava said. Concessions especially on critical areas like food, health, digital, and IP (intellectual property) must be fair, reciprocal, and aligned with India's development needs, he added. "Otherwise, India risks giving up long-term control for short-term gains, a decision it may regret later," he said. India and the USA are negotiating a bilateral trade agreement. So far, five rounds of talks have been completed, and the sixth round will happen here next month. Both sides are looking to finalise an interim deal before August 1, the deadline for suspended Trump tariffs. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
16 hours ago
- Business
- Time of India
US-Indonesia trade pact shows risks of pressure tactics; India must tread cautiously: GTRI
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The US-Indonesia trade pact reflects how Washington's pressure tactics can compel countries to cut tariffs, commit to large purchases, and loosen regulatory control, and India should tread cautiously in ongoing trade talks to avoid similar concessions, economic think tank GTRI said on gave up far more than it gained, removing 99 per cent of its tariffs on US goods, agreeing to buy USD 22.7 billion in American products, and weakening important rules that protected its industries, food safety, and digital space, the Global Trade Research Initiative (GTRI) said."India now faces similar US demands, including allowing remanufactured goods, opening up agriculture and dairy, accepting genetically modified (GM) feed, and adopting US rules on digital trade and product standards," GTRI Founder Ajay Srivastava added that accepting American standards on cars, medical devices, or food, without any guarantee of reciprocity, would put India's consumers at risk."Handing over control of data under the name of digital trade would give foreign companies power over India's digital future. India must stay alert. Any trade agreement should be based on clear, public assessments of costs and benefits," Srivastava especially on critical areas like food, health, digital, and IP (intellectual property) must be fair, reciprocal, and aligned with India's development needs, he added."Otherwise, India risks giving up long-term control for short-term gains, a decision it may regret later," he and the USA are negotiating a bilateral trade agreement. So far, five rounds of talks have been completed, and the sixth round will happen here next sides are looking to finalise an interim deal before August 1, the deadline for suspended Trump tariffs
Mint
17 hours ago
- Business
- Mint
Paytm share price drops 3.5% after hitting 52-week high. Should you buy, sell or hold after Q1 profit?
Shares of Paytm parent company One97 Communications reversed gains as it declined over 3.51 per cent after hitting a 52-week high in Wednesday's early morning session following the announcement of the Q1 results for fiscal year 2025-26 (FY26) a day ago. Paytm share price opened at fresh high of ₹ 1,090 apiece today. However, it declined quickly to ₹ 1,039, giving up early gains. On Tuesday, One97 Communications share price rose 3.5 per cent to close at ₹ 1,053.10. The stock has gained over 5 per cent in past five trading sessions and nearly 19 per cent in a month. The company posted a consolidated net profit of ₹ 122.5 crore in Q1FY26, a significant improvement from a net loss of ₹ 839 crore in the same period last year. Its operating revenue climbed 28% year-on-year to ₹ 1,917 crore, up from ₹ 1,502 crore in Q1FY25. On a quarter-on-quarter basis, revenue growth was modest at 0.3%, compared to ₹ 1,911 crore in Q4FY25, when the firm had recorded a net loss of ₹ 540 crore. The revenue boost was driven by a rise in subscription-based merchants, increased Gross Merchandise Value (GMV), and higher income from financial services distribution. The company reported a turnaround in its financials, with EBITDA reaching ₹ 72 crore (a 4% margin) and profit after tax (PAT) at ₹ 123 crore. This improvement was attributed to AI-driven operational efficiencies, a disciplined approach to cost management, and increased other income, according to the company's filing. 'In Q1 FY26, Paytm delivered a steady performance, turning profitable across key financial metrics and reinforcing its leadership in India's digital payment ecosystem. Operating revenue grew 28% YoY to Rs.1,918 crore, driven by a surge in merchant subscriptions, rising Gross Merchandise Value (GMV) of Rs.5.4 lakh crore (+27% YoY), and a 100% YoY increase in financial services distribution revenue to Rs. 561 crore. The company's contribution profit surged 52% YoY to Rs.1,151 crore with a robust contribution margin of 60%, reflecting improved net payment revenue, a favorable shift towards non-default loss guarantee (non-DLG) loan disbursements, and tighter control on direct expenses. EBITDA turned positive at Rs.72 crore, and PAT came in at Rs.123 crore, aided by improved operational leverage and higher other income,' said Seema Srivastava, Senior Research Analyst at SMC Global Securities. Srivastava further added, ' Moreover, net payment revenue rose 38% YoY to ₹ 529 crore, and merchant device subscriptions reached an all-time high of 1.30 crore. Strategic cost rationalization was evident, with indirect expenses (ex-ESOP) down 19% YoY and ESOP costs slashed 88% YoY due to voluntary surrenders. Despite a decline in marketing service revenue ( ₹ 247 crore, -23% YoY), the company continued to optimize ad targeting using AI. The quarter also highlighted strong adoption of AI across operations from fraud detection to personalized product offerings. With ₹ 12,872 crore in cash reserves and reduced ESOP and D&A burdens, Paytm is well-positioned for sustained profitability. Its AI-driven, full-stack merchant ecosystem and increased focus on non-DLG lending mark a strategic pivot toward high-margin, scalable revenue streams.' Brokerage firm Motilal Oswal has reiterated its 'neutral' rating on the Paytm stock, with a target price of ₹ 1,025. 'We maintain our contribution profit estimates and project Paytm to turn EBITDA positive by FY26. We value PAYTM at ₹ 1,025 based on 21x FY27E EBITDA, which corresponds to 6.8x FY27E sales. We reiterate our NEUTRAL rating on the stock,' the brokerage firm said in a note. Meanwhile, global brokerage firm Jefferies has upgraded the Paytm stock to 'buy' from earlier rating of 'hold', along with raising the target price to ₹ 1,250 from ₹ 900 earlier after the Q1 results. Jefferies is of the view that although the sequential growth in Monthly Transacting Users (MTU) and Gross Merchandise Value (GMV) is promising, contribution margins are likely to settle at slightly lower levels over the next two to three quarters.
Mint
2 days ago
- Business
- Mint
IDBI Bank share price inches higher after Q1 results. Should you buy?
IDBI Bank share price inched higher on Tuesday after the lender reported its Q1 results, with steady profit growth and improvement in asset quality. IDBI Bank shares gained as much as 1.07% to ₹ 98.30 apiece on the BSE. IDBI Bank reported a standalone net profit of ₹ 2,007 crore for the quarter ended June of FY26, registering a growth of 17% from ₹ 1,719 crore in the year-ago quarter. The banks' operating profit in Q1FY26 increased 13% to ₹ 2,354 crore from ₹ 2,075.5 crore, year-on-year (YoY). Net interest income (NII) during the June quarter fell to ₹ 3,166 crore from ₹ 3,233 crore, YoY, while net interest margin (NIM) dropped 50 bps to 3.68% from 4.18% YoY. Asset quality of the bank showed robust improvement as gross non-performing assets (GNPA) ratio improved to 2.93% from 3.87%, while net NPAs ratio was at 0.21% versus 0.23%, YoY. The Provision Coverage Ratio remained high at 99.31%, providing a firm cushion against potential stress. Total business expanded by 8% YoY to ₹ 5.08 lakh crore, with deposits growing 7% and net advances rising 9%. Seema Srivastava, Senior Research Analyst at SMC Global Securities said that IDBI Bank delivered a stable financial performance in Q1 FY26, reflecting steady earnings growth and continued improvement in asset quality. She noted that the retail loans formed 70% of the total advances, indicating a conservative and granular lending strategy. The CASA ratio moderated to 44.65% from 48.57%, reflecting a shift toward higher-cost term deposits in a tighter liquidity environment. 'The bank's capital adequacy remained among the highest in the sector, with CRAR at 25.39% and Tier 1 capital at 23.71%, positioning it well for future growth. Return on Assets (ROA) improved to 2.01%, while Return on Equity (ROE) stood at 17.91%, reflecting improved operational efficiency,' Srivastava said. IDBI Bank continues to reinforce its transformation journey with a strong balance sheet and improved profitability, she added. IDBI Bank share price has gained 7% in one month and 13% in three months. The stock has rallied 22% in six months and risen 26% on a year-to-date (YTD) basis. IDBI Bank share price has jumped 69% in two years and has delivered strong returns of 150% over the past five years. At 10:20 AM, IDBI Bank share price was trading 0.15% lower at ₹ 97.10 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
2 days ago
- Time of India
Ex-Nalco chief, wife convicted in graft case
Representative image NEW DELHI: In a high-profile case of corruption against a senior govt executive, an ED special court Monday convicted Abhay Srivastava, a former chairman and managing director of public sector undertaking Nalco, his wife Chandni and two associates under the anti-money laundering law for allegedly receiving bribes from contractors in supply of two lakh tonne of washing coal. The conviction came 14 years after CBI booked the former CMD of National Aluminium Company Limited (Nalco) under the Prevention of Corruption Act. Later, ED investigated a money laundering case against the illegal gratification received by him and seized 10 gold bars of one kg each from a bank locker allegedly operated by Chandni. The court upheld the ED probe and noted the illicit funds were layered and concealed through purchase of gold bars which were stored at a Bank of Maharashtra Delhi branch. 'This court finds there was prior concert and coordination among the four accused — Srivastava and (his close associate) BL Bajaj both involved their wives to conceal gold bars of one kg each by keeping in a bank locker taken in the name of Anita Bajaj. However, it was being operated by Chandni Srivastava... Therefore, this court is of the considered view that there is sufficient evidence on the record establishing that all the accused conspired with each other in commission of offence of money laundering,' special judge Shailender Malik noted in his judgment. 'ED said it has successfully demonstrated that the illegal gratification was generated when Srivastava accepted illicit payments through Bajaj in connection with the coal supply tender floated by Nalco,' the judge said. The case is related to the Nalco tender issued for purchase of two lakh tonne of washing coal from its captive power plant at Angul in Odisha in 2010. Four companies applied, of which two were rejected at the technical bid stage. Maheshwari Brothers Coal Ltd and Bhatia International Ltd were approved by acting CMD BL Bagda, for placing before the committee of directors, to be chaired by Srivastava. The court took cognisance of phone calls intercepted by CBI, where it was stated that Rs 1.2 crore (at rate of Rs 150/tonne for 80,000 tonne) was decided as illegal gratification from Bhatia International Ltd for Srivastava as an award for contract.
