Trendlyne Analysis Broker Research reports

The total value of credit card transactions rose by 30.3% YoY to Rs 1,66,847.6 crore in January 2024. The number of cards outstanding increased by 20.7% YoY. Private sector banks grew by 27.2% YoY in terms of the value of transactions.

In February 2024, Consumer Price Index (CPI) inflation remained constant, while Wholesale Price Index (WPI) inflation fell. The Purchasing Managers' Index (PMI) indicated growth compared to the previous month. Industrial production rose YoY in January 2024. The unemployment rate rose in February 2024. Foreign Institutional Investment (FII) outflows contracted, and mutual fund outflows surged. Crude oil prices rose, while consumption fell.

The automobile industry's overall retail sales fell by 4.6% YoY in February 2024 to 20.3 lakh units. Two-wheeler retail sales dropped by 1.3% YoY to around 14.4 lakh units, while car retail sales decreased by 16.1% YoY to 3.3 lakh units.

All segments of the industry observed a YoY decline during this period.

The total number of passengers carried by domestic airlines increased by 4.7% YoY in January 2024 to 131.3 lakh. Total departures by scheduled carriers declined by 4.6% YoY to 84,491.

Automobile wholesales of listed companies rose 16.6% YoY to 13.7 lakh units in February. Exports were up 35.4% YoY to 2.7 lakh units. Domestic two-wheeler wholesales of listed companies increased 20.6% YoY to 9.5 lakh units, and passenger vehicles rose 15.1% YoY to 2.5 lakh units.

The ‘fastest growing economy’ label that India currently carries got a boost as the country’s GDP grew 8.4% YoY in the December quarter. This growth was fuelled by higher domestic consumption, with a boom in the auto and real estate sectors. However, much of this consumption has been driven by debt.

India's total wireless subscriber base saw an increase of 43.2 lakh subscribers MoM on a net basis, reaching 115.9 crore in December.

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

Most steel manufacturing firms reported a capacity utilisation of 95% and above for Q3FY24, with sales volume exceeding 85% of capacity for many. The combination of high utilisation levels and increased consumption has led several manufacturers to invest in capex to expand production.

The values of loans, deposits, and CASA improved for most listed banks during Q3FY24, reaching their highest in the past five quarters. HDFC Bank remains at the top in bank operations.

As people get richer, one of the big purchases they eye is a car. And usually the larger, the better. So as India’s GDP growth accelerates, the Indian automotive industry is expected to help the country leap from the fifth to the third-largest economy.