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Healthy economic activity, a pick-up in credit growth and improvement in asset quality are the key drivers of the run-up in banking stocks.For the September quarter, private sector lender HDFC Bank reported a strong 24 per cent loan growth, with domestic retail loans rising nearly 22 per cent on year.

During the quarter ended September 30, 2022, the corporation assigned loans amounting to Rs 9,145 crore compared to Rs 7,132 crore in the corresponding quarter of the previous year,” HDFC said in a BSE filing.“Individual loans sold in the preceding 12 months amounted to Rs 34,513 crore. Gross income from the dividend for the quarter ended September 30, 2022, was Rs 1,360 crore,” It said.

“Reliance is a stock which should be there in the portfolio because oil and gas will continue to generate heaps of cash and the other two businesses which are Jio and Retail will continue to grow on a QoQ basis. So it is a combination of steady cash flows plus a secular growth from the two B2C businesses and we continue to like the stock.”

The falling oil prices and months of severe volatility have spooked the market, with major consumer countries still tapping strategic stocks to cool prices while top exporters in the OPEC+ alliance may take the opposite view and boost output this week.

In the second fund launched in 2018, it invested Rs 10,500 crore and realised cash of more than Rs 9,500 crore from the portfolio companies, it said.Under the latest fund, it is targeting to raise USD 1 billion with a greenshoe option of USD 500 million, the statement said.

“China’s weight in the MSCI emerging market has come down by 8%. India’s weight in comparison has gone up by about 7%. All the planets are aligning for India. Growth domestically is strong. Technically we are positioned very well for this market to have tailwinds and it looks like India’s time has really come, this is cliché but it looks like the cliché is coming true now. ”

Highlighting the company’s 2QFY23 pre-quarterly update, the brokerage said demand sentiments during the September-ended quarter were similar to the previous quarter, with signs of positivity in the last month. While the rural segment remained a drag, there was healthy momentum in Urban, and Premium Discretionary continued.

The brokerage expects the credit demand to sustain given tightened liquidity in the system as that will push corporates to turn to banks for meeting their credit demand. The bank is gearing up to capitalise on the opportunity and there is an expected 15% overall growth for the public-run lender, in line with the industry.

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FTSE Russell said Thursday that it would continue to keep Indian government bonds on its watch list for possible inclusion in its emerging markets debt index until March 2023, when the next assessment is due. Separately, Reuters has reported that India’s much-desired entry into a similar benchmark maintained by JPMorgan Chase & Co. may also get pushed out to next year. A decision is expected in the coming days.