Trendlyne Analysis Broker Research reports

The Indian airline industry is soaring – passenger volume growth has exceeded pre-covid levels and has grown around 13% in FY24. This comes as Indians have shown a growing appetite for air travel.

In March 2024, Consumer Price Index (CPI) inflation eased, while Wholesale Price Index (WPI) inflation rose. The Purchasing Managers' Index (PMI) indicates growth compared to the previous month. Industrial production increased YoY in February 2024.

The unemployment rate fell in March 2024. Foreign Institutional Investment (FII) and mutual fund outflows contracted. Crude oil prices rose on a MoM basis.

As India heads into election season, markets have been seeing a lot of volatility. While the Nifty 50 saw gains early in the year, March saw the index closing lower amid worries about stock market valuations, global geopolitical tensions and rising oil prices.

Retail sales in the automobile industry as a whole rose by 3.1% YoY in March 2024 to 21.3 lakh units. Two-wheeler retail sales increased by 5.4% YoY to around 15.3 lakh units, while car retail sales decreased by 6.2% YoY to 3.2 lakh units.

All segments of the industry, except the 2&3 wheeler segments, observed a YoY decline during this period.

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.

India's total wireless subscriber base increased by 22.2 lakh subscribers MoM on a net basis, reaching 116.1 crore in January.

In March, automobile wholesales of listed companies grew by 2% YoY to 14 lakh units. Exports rose by 33.9% YoY to 2.8 lakh units. Domestic two-wheeler wholesales of listed companies increased by 1.4% YoY to 9.7 lakh units, while passenger vehicles rose by 14.4% YoY to 2.4 lakh units.

Economies worldwide have been fire-fighting inflation, but a multiplicity of crises have fuelled price increases in a key input – crude oil. The Red Sea attacks, Ukraine drones targeting Russian refineries, and OPEC production cuts have strained crude supplies.

The total number of passengers carried by domestic airlines increased by 4.8% YoY in February 2024 to 126.5 lakh. Total departures by scheduled carriers rose marginally by 0.7% YoY to 82,291.

Private insurers sold 7.8 lakh policies in February 2024, while LIC sold 17.2 lakh schemes. The first-year premium of private insurers grew by 27.8% YoY to Rs 14,017.2 crore in the same period. While LIC's premium rose YoY to Rs 19,896 crore, its market share jumped by 670 bps YoY.