Saturday, August 08
Mumbai: Seasonal consumption pick-up and year-end discretionary spending drove a rebound in credit card usage last month, with total card spends rising about 8% both year-on-year and month-on-month to ₹2.05 lakh crore, according to the Reserve Bank of India (RBI) data.The improvement in spending was accompanied by steady growth in the customer base. Net new credit card additions crossed 900,000 in December, a three-month high, increasing the total cards in force to 115.7 million from 108 million at the end of December 2024."Looking ahead, we expect spending momentum to remain steady, supported by residual festive demand and stable consumption trends," said Sweta Padhi, analyst at IDBI Capital. "While year-on-year growth may remain moderate, improving volumes and sustained card additions
Emerging Asia is drawing fresh demand as a relative refuge from geopolitical uncertainty elsewhere, even as some immediate risks ease. US President Donald Trump's decision to pause tariff threats against Europe over Greenland has calmed markets for now. With concerns persisting over Middle East tensions and US actions in Latin America, investors are moving to markets offering better risk-adjusted returns and fundamentals.The shift is adding a tailwind to a strong start for Asian assets. Inflows into North and Southeast Asian equities have reached $3.3 billion so far in January, according to data compiled by Bloomberg, set for the largest monthly flows since September. Another $7.15 billion flowed into emerging market ETFs in the week ended Jan. 16, with three-quarters going into Asia-focus
ET Intelligence Group: Online delivery company Eternal lost nearly 9% in just two trading sessions after its December quarter results despite turning in profits in its major business lines. The stock's decline reflects investor worries over the company sustaining its operating performance given escalating competition. This could force Eternal, which also runs quick commerce platform Blinkit, to ramp up discounts and promotion activities, affecting profitability. In addition, investors believe that slower-than-planned store expansion during the quarter might have triggered the better-than-expected profitability due to reduced cash burn. With a greater need to accelerate quick commerce business expansion in the face of competitive pressures, profitability in the coming quarters may suffer.
