Fintech company One 97 Communications Limited is likely to see a block deal on Friday where existing investors like SAIF Partners and Elevation Capital Entities, according to an ET Now report. Around 8.6 million shares of Paytm are expected to change hands through the transaction and the floor price for the deal has reportedly been fixed at Rs 1,120.65 per share, the report said, citing sources. The floor price implies a discount of nearly 3% to the stock’s previous closing price.

The stake sale through a block deal from existing shareholders is likely to be worth $100 million worth of shares.

Global investment bank Citi has reportedly been appointed as the placement agent for the transaction.

As per the shareholding data available on the BSE, SAIF Partners held shares in One 97 Communications through its affiliates Saif Partners India Iv Limited and Saif Iii Mauritius Company Limited. While the former held over 2.56 crore shares as on March 31, that represented 4% stake, the latter held over 6 crore share accounting for 9.43% equity.

The development comes after a sharp recovery in Paytm shares over the past year, aided by improving operational metrics, narrowing losses and renewed investor confidence in the digital payments ecosystem. The stock has delivered 34% over a one-year period.

One 97 Communications reported a net profit of Rs 184 crore in the fourth quarter, compared with a loss of Rs 540 crore in the year-ago quarter. In the year-ago quarter, its results ‌were affected by a one-time expense on charges related ⁠to CEO Vijay Shekhar Sharma giving up his employee stock options.
Revenue from operations rose 18% YoY to Rs 2264 crore.Paytm’s EBITDA turned positive at Rs 132 crore, against a loss of Rs 88 crore a year ago, although it moderated from Rs 156 crore in the December quarter. EBITDA margin stood at 6%, compared with a negative 5% a year earlier.

The company said its comparable EBITDA, excluding UPI and PIDF incentives, improved by Rs 330 crore YoY, reflecting stronger organic profitability.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

NEW YORK — Advance Auto Parts Inc. (NYSE: AAP) shares jumped 19.63% to $61.30 in midday trading on Thursday, May 21, 2026, after the auto parts retailer reported first-quarter results that significantly exceeded expectations on comparable sales and profitability.

The company released its fiscal first-quarter 2026 financial results before the market open. Net sales totaled $2.6 billion, flat compared to the prior-year period that included sales from stores later closed as part of a restructuring plan. Comparable store sales increased 3.5%, marking the strongest performance in five years.

Adjusted operating income reached $99 million, or 3.8% of net sales, expanding 410 basis points year-over-year from a loss in the prior period. Adjusted diluted earnings per share came in at $0.77, compared to analyst estimates of approximately $0.44.

CEO Jim Greco described the quarter as a solid start. The company reaffirmed its full-year 2026 guidance, targeting comparable sales growth of 1.0% to 2.0% and adjusted operating income margin in the range of 3.8% to 4.5%.

The results reflect progress on Advance Auto Parts’ strategic initiatives, including store optimization, supply chain improvements and enhanced customer experience. The company has been executing a multi-year turnaround plan following challenges in recent years.

Trading volume surged on May 21 as the earnings reaction drew significant investor attention. The stock had been trading near $51 prior to the report, reflecting ongoing pressures in the automotive aftermarket sector amid economic uncertainty.

Advance Auto Parts operates more than 4,300 stores across North America under the Advance Auto Parts, Carquest and other banners. It serves both professional installers and do-it-yourself customers with a broad selection of parts, accessories and maintenance items.

The company has been streamlining operations, including closing underperforming locations as part of its 2024 restructuring plan. First-quarter 2025 net sales had included approximately $51 million from stores later closed.

Analysts had been cautiously optimistic ahead of the report. Evercore ISI raised its price target to $65 from $60 on May 18 while maintaining an In Line rating. Other firms monitored the company’s progress on margin expansion and comparable sales trends.

Advance Auto Parts reaffirmed its full-year 2026 capital expenditure guidance of approximately $300 million and free cash flow target of approximately $100 million. The company ended the quarter with a solid liquidity position.

The automotive aftermarket industry faces headwinds from aging vehicles, supply chain dynamics and consumer spending patterns. Advance Auto Parts has emphasized value offerings and professional customer growth to navigate the environment.

No changes were announced to leadership or strategic direction in the earnings release. The company continues under CEO Jim Greco, who has focused on operational discipline and customer-centric improvements.

The stock’s sharp rise on May 21 reflected relief among investors after several quarters of mixed performance. Market capitalization increased substantially intraday as shares climbed toward recent highs.

Conference call participants included CEO Jim Greco and other executives. The call, scheduled for 8 a.m. ET, provided additional context on performance metrics and outlook.

Advance Auto Parts has maintained its dividend, with a forward yield around 1.95% based on recent levels. The company prioritizes returning capital to shareholders while investing in core operations.

Investors will monitor upcoming quarterly results for continued evidence of turnaround momentum. The next earnings report for the second quarter is expected in late August.

The auto parts sector remains competitive, with players including AutoZone, O’Reilly Automotive and Genuine Parts Company. Advance Auto Parts has differentiated through its professional installer focus and omnichannel capabilities.

No specific second-quarter guidance was provided beyond the full-year outlook. Management highlighted steady demand in key categories and benefits from ongoing initiatives.

The earnings beat and positive comparable sales trend contributed to the strong market reaction. Shares had been under pressure earlier in 2026 amid broader retail sector concerns.

Advance Auto Parts continues to execute its strategic plan aimed at sustainable growth and improved profitability. The Q1 results mark a notable step in that direction.

A top U.S. defense contractor pulled back the curtain on next-generation AI-powered systems designed to hunt down and destroy swarms of enemy drones as the U.S. rapidly expands its next-generation warfighting capabilities.

“We are inserting technology of all types into our systems,” Lockheed Martin CEO Jim Taiclet told FOX Business on Thursday, detailing the company’s AI-powered counter-drone system, Sanctum.

Taiclet said the system uses artificial intelligence to detect incoming drones, determine whether they pose a threat and predict where they are headed before they can be intercepted or disabled.

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“This technology alone is fantastic in being able to essentially hit a bullet with a bullet in space and destroy an incoming ballistic missile that’s threatening our people, threatening our bases, threatening our allies,” he said.

“But along with that, we’ve got to match — with technology — other threats, and we want to match the threat to the cost of our counterthreat.”

The company is also focusing on a device called MORFIUS, a system capable of flying close to small enemy drones and “zapping” them with high-powered microwave pulses before moving on to the next target.

“This drone that we’re building with the help of AI will enable us to attack 50 different drones with one mission without firing any weaponry,” he shared.

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Taiclet also spoke about the company’s investment in an internal AI center in 2020 and credited a pipeline partnership with chipmaker Nvidia, which supplies the graphics processing units, or GPUs, used to support such national security missions.

He also described how Lockheed is repurposing existing battlefield weaponry to create cheaper, more scalable defenses against drone attacks.

More specifically, the company has modified Hellfire missiles — traditionally used as air-to-ground weapons on Apache helicopters — into lower-cost ground-to-air interceptors capable of taking down enemy drones.

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“We’re actually showing that we can do that as well,” he said.

“We basically have a four-pack of these Hellfire missiles. We’ve reconfigured them with new technology. We connect it with the Sanctum AI, and we can now use that type of missile to destroy these incoming cheap drones.” he added.

“That’s some ways we’re using technology and Nvidia has been a great partner for us in this.”

Bosses are hoping to grow sales in the Middle East

Sealing products specialist Sealprem has secured a seven-figure funding packaging to help it achieve international growth.

The Park Farm Road business, which supplies the construction and DIY markets, hopes the funding from HSBC can accelerate its plans. It will give capital to Sealprem and its private equity owner Red Coast Industries to pursue organic growth as well as merger and acquisition opportunities and joint venture strategies.

At the same time, Sealprem is also developing its e-commerce capabilities. With the backing of Red Coast, the firm has ambitions to grow sales in the Middle East, particularly Saudi Arabia and the UAE, and customers that operate between there and the UK.

New jobs are expected to be created at the firm, which was founded in 1994 and is now a top manufacturer of foam fillers and a supplier of core sealing products. Red Coast was founded by Omar and Yossuf AlBanawi having been spun off in 2022 from family run investment group Banvest.

It focuses on acquiring lower-middle-market businesses in the building materials sector, with a particular focus on industrial roofing and cladding. Red Coast acquired Sealprem in 2023.

Omar AlBanawi, director of Red Coast Industries, said: “ Securing funding with HSBC UK marks an important milestone for Sealprem, as we expand our offering into a broader one-stop-shop solution for the industrial building envelope sector. This new banking partnership provides us with a supportive long-term funding structure, greater operational flexibility, and a relationship that is aligned with our international growth ambitions.”

Andy Gray, relationship manager at HSBC UK, added: “With strengthened financial footing, Sealprem will be able to continue investing in product innovation, stock availability and customer service. The business is well positioned to accelerate growth across its core manufacturing business, expanding its distribution capabilities and further developing its e-commerce channel. As these offerings expand, the business is well set to serve customers more efficiently across the UK.”

Hard-working Americans could soon face another blow at the checkout counter.

Retail giant Walmart issued a warning Thursday after its Q1 earnings report, signaling that rising fuel costs could soon hit consumers at the checkout counter as seasonal tax-refund boosts dry up and inflation outpaces wages for the first time in years.

“I think higher tax returns muted some of the pressure related to higher fuel prices and as we’re in a period of time right now where those tax refunds are largely not coming in, I think consumers are going to feel more of that pressure from higher fuel prices,” Walmart CFO John David Rainey told CNBC.

Rainey said Walmart leadership is closely monitoring the economic headwinds: “It’s something that we’re keeping a close eye on.”

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During Thursday morning’s earnings call, Rainey also highlighted a widening gap between income groups, noting that while wealthier households are “spending with confidence [in] many categories,” lower-income Americans are becoming increasingly “more budget conscious” as they find themselves “navigating financial distress.”

High inflation has created financial pressure in recent years for many U.S. households, which are paying more for everyday necessities like food and rent. Price increases are particularly difficult for lower-income Americans because they tend to spend more of their paychecks on necessities and have less flexibility to save.

Energy prices rose 3.8% in April amid disruptions to Middle Eastern oil supplies tied to the Iran conflict, with prices up 17.9% over the past year. Gasoline prices increased 5.4% in April and are up 28.4% from a year ago.

April’s 3.8% inflation rate marked the highest level in three years and the first time since 2023 that prices have outpaced wage growth.

Despite affordability pressures, Walmart reported strong top-line revenue numbers, with total first-quarter revenue climbing 7.3% to $177.8 billion. However, that growth fell below analyst expectations.

Walmart’s position comes amid broader changes in the retail landscape, where major companies are navigating shifting consumer loyalties, corporate transitions and political pushback.

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Amazon has surpassed Walmart as the world’s largest company by revenue, while competitor Target reported net sales growth of more than 6% compared to the previous year.

Walmart declined Fox News Digital’s request for additional comment.

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FOX Business’ Eric Revell contributed to this report.