Morning Buzz: Banks and NBFCs report robust credit growth; Invesco increases Swiggy valuation; and more

While Bajaj Finance showed a 35 percent jump in assets under management, Bandhan, Federal and RBL Bank also pointed to an 18 percent growth. Invesco has marked up its valuation of Swiggy to $8.3 billion, up from $7.8 billion it had ascribed last July

  • Published:
  • 05/01/2024 09:57 AM

Data from lenders Bajaj Finance, L&T Finance and state-run banks have shown a surge in loans. Image: Shutterstock

Banks and NBFCs report robust credit growth  

Data from lenders Bajaj Finance, L&T Finance and state-run banks have shown a surge in loans. While Bajaj Finance showed a 35 percent jump in AUM (assets under management), mid-size banks Bandhan, Federal and RBL Bank also pointed to an 18 percent growth. The only dampener to the party was the rising cost of funds. Small finance banks also reported growth. AU SFB saw a jump of 20 percent, while Ujjivan saw a 27 percent rise.  

(Economic Times)

Invesco increases Swiggy valuation   

Invesco has marked up its valuation of Swiggy to $8.3 billion. This is higher than the $7.8 billion valuation the investor had ascribed last July. The firm holds a 2 percent stake in the company. Last year, the company had said that its core food delivery business had turned profitable in March when employee stock option costs were excluded.   

(Mint, Business Standard)

IndiGo discontinues fuel surcharge   

IndiGo has discontinued its fuel surcharge for tickets booked after January 4. A surcharge of Rs300 to Rs1,000 based on the distance travelled had been imposed in October. The airline said that its fare pricing is dynamic. ATF prices are down about 19 percent since October when the surcharge was imposed. IndiGo was the only airline to impose a fuel surcharge.  

(Business Standard, Mint, BusinessLine, Financial Express)  

Jio Financial classified as large cap by AMFI  

Jio Financial has climbed to the large cap category, while new listings Tata Technologies, JSW Infra and IREDA have found spots in the mid-cap category. The new categorisation will remain till August. The threshold to large caps was raised to Rs67,000 crore from the earlier Rs49,000 crore while for midcaps it was raised to Rs22,000 crore from the earlier Rs17,400 crore. The classification was done by the Association of Mutual Funds in India (AMFI).   

(Financial Express) 

Last Updated :

January 05, 24 09:59:22 AM IST