Investment Strategies, Economic Growth, Sector Analysis, Indian Economy
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Banks may have to slow down loan growth in FY25: S&P Global Ratings
Indian banks’ credit growth, profitability and asset quality would remain robust in current fiscal reflecting strong economic growth, but they may be compelled to slow down their loan growth as deposits are not growing at a similar pace, S&P Global Ratings has said. In the Asia-Pacific 2Q 2024 Banking Update, S&P Global Ratings Director SSEA Nikita Anand said the agency expects the sector’s strong credit growth to moderate to 14 per cent in FY25, from 16 per cent in FY24, if deposit growth, especially retail deposits, remain tepid. Anand said there is a deterioration in loan-to-deposit ratio is every bank, with loan growth being 2-3 percentage points higher than deposit growth. “We expect banks to bring down their loan growth in FY25 and bring it in line with deposit growth. If banks do not do that, they would be paying higher to get wholesale funding, which will impact profitability,” she said at a recent webinar of S&P Global Ratings.

Global market action
Dow Jones – Up by 0.34% or 130.37 points
FTSE – Up by 0.75% or 60.97 points
CAC – Up by 0.89% or 71.59 points
DAX – Up by 1.36% or 243.73 points
Gift Nifty – Up by 0.23% or 52.00 points

FII/DII activities
FII – Sold 3408.88 Cr worth of shares
DII – Bought 4356.83 Cr worth of shares.

Stocks with high delivery Percentage
SPARC Ltd – 100%
Century Plyboards (India) Ltd – 96%
Star Health & Allied Insurance Co Ltd – 83.6%
Alembic Pharma Ltd – 83%
Kajaria Ceramics Ltd – 82.4%

Commodities updates
Gold – Rs 74495/10gm, Silver – Rs 80745/kg, Brcrude – Rs 6995/barrel, Copper – Rs 859.50/kg.

Corporate News
Vi FPO rings in vigour for telecom sector, may reduce subscriber loss.

Apollo Hospitals lines up Rs 3,000 crore investment post Advent deal.

L&T Finance plans to increase short term, ECB fundraise in FY25.

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