UK-India FTA to benefit many sectors; FIIs returning to India & will maintain momentum: Sudip Bandyopadhyay
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Group Chairman,, says following protracted negotiations, the UK-India FTA is poised to benefit numerous industries, overshadowing any concerns over the US Fed policy. By and large, FIIs have started coming back to India and will maintain the momentum.Bandyopadhyay further says that despite a loss due to a one-time expense, Paytm's profitability and potential MDR on UPI payments are generating excitement. While not inexpensive, Paytm appears promising for long-term investors within the payments sector.Absolutely right. We should also focus on the UK-India FTA which has been signed after a protracted series of negotiations and this augurs well for many industries. Of course, we can talk about textiles, and liquor, but many more industries will benefit directly or indirectly. It is a very good step and because of Operation Sindoor excitement, we are not getting too much into that. But it is a very good thing to have happened.Coming to the US Fed policy announcements, the rates have not changed, but the Fed chairman's comments will be very carefully studied. By and large, we have been positive on Indian markets , and we maintain our positive stance.We believe that this bit of geopolitical instability or uncertainty will pass. It is just a matter of time. Maybe in the next few days, we will have some kind of concerns and some excitement, but by and large, FIIs have started coming back to India and will maintain the momentum.As far as Paytm is concerned, though they declared a loss this quarter, it was on account of a one-time ESOP related expense. So, ignoring that, they are there in terms of profitability. It is a fantastic thing to have happened after such a long time. Paytm finally is operationally and at even PAT, PBT level becoming profitable, and that is excellent news. The excitement is also around the expected change in MDR.While MDR is there on other kind of payments, but on UPI, MDR is still not there and they are expecting that to happen sometime sooner than later and this creates the excitement around the Paytm stock and overall payment space will get a leg up if there is some kind of MDR on the UPI payments which has been the demand for the industry for quite some time. At the end of the day, it is also fair. Some kind of nominal charge will benefit the industry in a big way. As far as Paytm is concerned, while it is not a cheap stock even at current levels, from a long-term perspective, now Paytm looks interesting.
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