Banks share price target

In March 2024, the total value of credit card transactions increased by 19.8% YoY, reaching Rs 1.6 lakh crore. Concurrently, the number of outstanding credit cards grew by 19.3% YoY. Private sector banks saw a 23.6% YoY rise in the value of transactions.

Credit growth remains healthy, driven by retail segment

Positive Result Plays: Banks ICICI Bank; SBI; HDFC Bank; NBFCs Manappuram Finance; Nippon AMC; Chola Inv. & Fin

The total value of credit card transactions rose 25.7% YoY to Rs 1,49,601.7 crore in February 2024. The number of cards outstanding also increased by 20.7% YoY. Private sector banks grew by 35% YoY in terms of value of transactions.

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.

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.

Bonds Wrap: Fortnightly review. Crude Imports: India's crude import-story so far. Currency Outlook: Fortnightly forex review. GDP Forecast: GDP expectations for FY25. Diversified Financials: Sustained, strong demand for mutual funds. Power: Capacity addition quickens but lags annual targets