Latest news with #Srivastava
Time of India
24 minutes ago
- Business
- Time of India
Indian Overseas Bank confident of maintaining over Rs 1,000 cr net profit in this FY: MD & CEO
Public sector Indian Overseas Bank was confident of maintaining its over Rs 1,000 crore net profit in the coming quarters. The city-headquartered bank had registered its first ever highest net profit of Rs 1,051 crore in the January-March 2025 quarter. Explore courses from Top Institutes in Select a Course Category Technology CXO Data Science others Finance MCA Cybersecurity healthcare Digital Marketing Management Project Management Others Degree Healthcare Design Thinking Public Policy MBA PGDM Product Management Data Analytics Artificial Intelligence Leadership Data Science Operations Management Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details "Exactly. One hundred per cent sure. We are very confident of maintaining this and growing it from here. If you see our net profits figure over the last two years, quarter on quarter, it is increasing. The graph has been very consistent," the bank's Managing Director and CEO Ajay Kumar Srivastava said. He was responding to a query from PTI on whether the bank was confident of maintaining the growth in the net profit during this financial year . He said, "in the fourth quarter of the last financial year (January-March 2025), the bank reported its highest ever net profit of Rs 1,051 crore and in June 2025 quarter, supposed to be a lean quarter, from that Rs 1,051 crore we have grown to over Rs 1,111 crore net profit, another highest ever net profit for the bank." Live Events "We are very confident of maintaining it and growing further," he added. For the April-June 2025 quarter, Indian Overseas Bank reported a 76 per cent jump in net profit to Rs 1,111 crore as compared to Rs 633 crore registered in the same quarter of last financial year. To a query on the outlook for the year, Srivastava said he expected the bank to grow at 12 per cent on overall business segment during the current financial year, similar to last year. "Last year, it was around 12 per cent business growth . That is very comfortable to maintain. That is the minimum also. Beyond that (12 per cent) also we are expecting to grow (in this financial year)," he said. On the target recovery for this year, the Managing Director said, "In the beginning of the financial year we gave a guidance of Rs 4,500 crore as recovery for the entire financial year." "Out of that in Q1, we have done Rs 851 crore and remaining we are very very comfortably doing it. In fact, if you see our recovery numbers of last two years, we have made recovery of around Rs 4,500 to Rs 5,000 crore every year," he said. Asked how much credit growth was expected during this financial year, he said it is expected to be around 12-13 per cent during the current financial year. To another query whether the bank has planned to open a branch in Gift City, Gandhi Nagar, he replied that the bank is in the process of obtaining approvals to open a branch in that city. "So, in Gift City (Gandhi Nagar, Gujarat), we do not have a branch as such. We are in the process of getting approvals and depending on the approvals, we will be opening a branch. It is in our priority and we want to have one branch as early as possible," he said. On the performance of gold loan portfolio , he said it has been a consistent portfolio for the bank and every year, the bank has been witnessing a 37-38 per cent growth under this segment. "This year again, we will be growing (around 37-38 per cent). That is one more important activity in the state of Tamil Nadu," he noted. According to Srivastava, the bank has planned to raise Rs 4,000 crore during the current financial year, thereby, the Government of India shareholding in the bank is expected to come down to 90 per cent from the current 94 per cent. "This fundraiser we expect to happen in Q3 of this financial year. It may happen in one or two tranches. After this (fund raise,) the government of India shareholding will come down to 90 per cent," he remarked. Economic Times WhatsApp channel )
Time of India
an hour ago
- Business
- Time of India
FPI inflows: Foreign investors pull out Rs 5,524 crore in July amid US-India trade jitters; 2025 outflows at Rs 83,245 crore
Foreign investors have pulled out Rs 5,524 crore from Indian equities so far in July, turning net sellers after three months of buying, amid US-India trade tensions and mixed earnings. Total outflows for 2025 have now reached Rs 83,245 crore, according to depository data. Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, told PTI that future FPI movements would depend on US-India trade discussions and corporate performance. He said that resolving trade disagreements and improved earnings could help regain investor trust, potentially encouraging FPIs to reinvest in Indian markets. Depositories data reveals that Foreign Portfolio Investors (FPIs) removed Rs 5,524 crore from equities this month (till July 18). This follows positive investments of Rs 14,590 crore in June, Rs 19,860 crore in May and Rs 4,223 crore in April. Previously, FPIs withdrew Rs 3,973 crore in March, Rs 34,574 crore in February, and Rs 78,027 crore in January. FPIs demonstrated a significant change in investment approach this month, moving away from their previous positive stance. "While elevated market valuations prompted FPIs to reassess the attractiveness of Indian equities, ongoing trade tensions, especially between the US and India, and concerns over US interest rate policies contributed to a cautious investment outlook. Additionally, mixed corporate earnings raised doubts about the sustainability of corporate profitability," Srivastava added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
3 hours ago
- Business
- Mint
FPIs pull out ₹5,524 cr in July on US-India trade jitters, mixed corporate earnings
New Delhi, Jul 20 (PTI) After three months of fund infusion, foreign investors turned net sellers with withdrawal of ₹ 5,524 crore so far in July, due to ongoing trade tensions between the US and India and mixed corporate results. With this, the total outflow has reached ₹ 83,245 crore so far in 2025, data with the depositories showed. Looking ahead, the trajectory of FPI flows will hinge on developments in the US-India trade negotiations and corporate earnings, Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said. A resolution of the trade disputes and earnings recovery could potentially restore investor confidence and attract FPIs back to Indian markets, he added. Going by the depositories data, Foreign Portfolio Investors (FPIs) withdrew a net sum of ₹ 5,524 crore from equities this month (till July 18). This came following a net investment of ₹ 14,590 crore in June, ₹ 19,860 crore in May and ₹ 4,223 crore in April. Prior to this, FPIs had pulled out ₹ 3,973 crore in March, ₹ 34,574 crore in February, and a substantial ₹ 78,027 crore in January. FPIs exhibited a notable shift in sentiment this month, reversing their previous bullish stance. This behaviour can be attributed to a combination of factors. "While elevated market valuations prompted FPIs to reassess the attractiveness of Indian equities, ongoing trade tensions, especially between the US and India, and concerns over US interest rate policies contributed to a cautious investment outlook. Additionally, mixed corporate earnings raised doubts about the sustainability of corporate profitability," Srivastava said. Vaqarjaved Khan, Senior Fundamental Analyst, Angel One, also said that global markets and macro developments along with the result season in India led to the outflow.
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Business Standard
5 hours ago
- Business
- Business Standard
FPIs pull out Rs 5,524 cr in July on US-India trade jitters, mixed earnings
After three months of fund infusion, foreign investors turned net sellers with withdrawal of Rs 5,524 crore so far in July, due to ongoing trade tensions between the US and India and mixed corporate results. With this, the total outflow has reached Rs 83,245 crore so far in 2025, data with the depositories showed. Looking ahead, the trajectory of FPI flows will hinge on developments in the US-India trade negotiations and corporate earnings, Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said. A resolution of the trade disputes and earnings recovery could potentially restore investor confidence and attract FPIs back to Indian markets, he added. Going by the depositories data, Foreign Portfolio Investors (FPIs) withdrew a net sum of Rs 5,524 crore from equities this month (till July 18). This came following a net investment of Rs 14,590 crore in June, Rs 19,860 crore in May and Rs 4,223 crore in April. Prior to this, FPIs had pulled out Rs 3,973 crore in March, Rs 34,574 crore in February, and a substantial Rs 78,027 crore in January. FPIs exhibited a notable shift in sentiment this month, reversing their previous bullish stance. This behaviour can be attributed to a combination of factors. "While elevated market valuations prompted FPIs to reassess the attractiveness of Indian equities, ongoing trade tensions, especially between the US and India, and concerns over US interest rate policies contributed to a cautious investment outlook. Additionally, mixed corporate earnings raised doubts about the sustainability of corporate profitability," Srivastava said. Vaqarjaved Khan, Senior Fundamental Analyst, Angel One, also said that global markets and macro developments along with the result season in India led to the outflow. On the other hand, FPIs invested Rs 1,850 crore in the debt general limit and Rs 1,050 crore in the debt voluntary retention route during the period under review.
Mint
5 hours ago
- Business
- Mint
FPIs pull out ₹5,524 cr in July on US-India trade jitters, mixed corporate earnings
New Delhi, Jul 20 (PTI) After three months of fund infusion, foreign investors turned net sellers with withdrawal of ₹ 5,524 crore so far in July, due to ongoing trade tensions between the US and India and mixed corporate results. With this, the total outflow has reached ₹ 83,245 crore so far in 2025, data with the depositories showed. Looking ahead, the trajectory of FPI flows will hinge on developments in the US-India trade negotiations and corporate earnings, Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said. A resolution of the trade disputes and earnings recovery could potentially restore investor confidence and attract FPIs back to Indian markets, he added. Going by the depositories data, Foreign Portfolio Investors (FPIs) withdrew a net sum of ₹ 5,524 crore from equities this month (till July 18). This came following a net investment of ₹ 14,590 crore in June, ₹ 19,860 crore in May and ₹ 4,223 crore in April. Prior to this, FPIs had pulled out ₹ 3,973 crore in March, ₹ 34,574 crore in February, and a substantial ₹ 78,027 crore in January. FPIs exhibited a notable shift in sentiment this month, reversing their previous bullish stance. This behaviour can be attributed to a combination of factors. "While elevated market valuations prompted FPIs to reassess the attractiveness of Indian equities, ongoing trade tensions, especially between the US and India, and concerns over US interest rate policies contributed to a cautious investment outlook. Additionally, mixed corporate earnings raised doubts about the sustainability of corporate profitability," Srivastava said. Vaqarjaved Khan, Senior Fundamental Analyst, Angel One, also said that global markets and macro developments along with the result season in India led to the outflow. On the other hand, FPIs invested ₹ 1,850 crore in the debt general limit and ₹ 1,050 crore in the debt voluntary retention route during the period under review.
