Trendlyne Analysis Broker Research reports

The total number of passengers carried by domestic airlines rose by 8.3% YoY in December to 138 lakh. Total departures by scheduled carriers increased by 1.9% YoY to 88,117.

The total value of credit card transactions rose by 30.4% YoY to Rs 1,65,524.2 crore in December 2023. The number of cards outstanding increased by 20.6% YoY. Private sector banks grew by 37.9% YoY in terms of value of transactions.

India's total wireless subscriber base increased MoM by 31.9 lakh subscribers on a net basis, reaching 115.4 crore in November.

Reliance Jio and Bharti Airtel experienced subscriber gains, while Vodafone Idea and BSNL continued to lose subscribers YoY.

All good things come to an end, and that’s also true of India’s banking boom. After stellar growth in 2023, the Indian banking sector is seeing signs of moderation. While the Indian economy is projected to grow by around 7.3% in FY24, a significant portion of domestic consumption has been debt-driven.

Automobile wholesales of listed companies rose 17.7% YoY to 13.8 lakh units in January. Exports went up 17.3% YoY to 2,10,359 units. The problems in the Red Sea have limited freight movement, resulting in lower exports across all categories

Domestic two-wheeler wholesales of listed companies increased 22.8% YoY to 9.5 lakh units, and that of passenger vehicles rose 15.4% YoY to 2.6 lakh units.

The Q3FY24 earnings from the big four IT firms — Tata Consultancy Services (TCS), Infosys, HCL Technologies (HCL Tech) and Wipro — mirror a global slowdown in IT spending. This trend comes as a surprise to no one, since Indian IT companies have been flagging that risk over the last couple of quarters.

In December, the Nifty 50 closed at an all-time high of 21,731 and delivered an impressive 7.9% return. This surge was fueled by increased rural spending on account of the harvest and wedding seasons, which boosted consumption-driven spending overall.

In December 2023, the Consumer Price Index (CPI) inflation and Wholesale Price Index (WPI) inflation rose.

The unemployment rate fell for the second consecutive month. Foreign Institutional Investment (FII) outflow surged, but mutual funds recorded inflows. Crude oil prices fell, and consumption rose.

In December 2023, private insurers sold around 9.5 lakh policies, with their first-year premium rising 4.1% YoY to Rs 15,599.8 crore.

In contrast, LIC sold 17 lakh schemes, witnessing a 93.8% YoY increase in first-year premiums to Rs 22,981.3 crore. Its market share also increased by 15.4 percentage points YoY.

A consensus sell is the analyst recommendation Steel Authority of India, from 23 analysts.