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<keyword id="20599258" type="General" weightage="20" keywordseo="Indian-consumers" source="keywords">Indian consumers</keyword> demonstrated a significant increase in their <keyword id="21084888" type="General" weightage="100" keywordseo="credit-card-spending" source="keywords">credit card spending</keyword> in July this year, marking a 19% increase compared to the same month last year. According to a report released by <keyword id="19945737" type="General" weightage="20" keywordseo="SBI-Securities" source="keywords" meta.keywordsubtype="org" meta.entityname="SBI Securities" meta.hostid="261" meta.entityid="SBI Securities">SBI Securities</keyword>, the total expenditure by credit card users across the country reached an impressive Rs 1.7 trillion. This substantial uptick highlights the growing reliance on credit cards for transactions, reflecting broader economic trends and <keyword id="20740758" type="General" weightage="20" keywordseo="consumer-confidence" source="keywords">consumer confidence</keyword>. The report also highlighted a considerable increase in <keyword id="21118324" type="General" weightage="20" keywordseo="transaction-volumes" source="keywords">transaction volumes</keyword>, which surged by 39% year-on-year, reaching a total of 38.4 crore transactions in July 2024. This increase in the number of transactions underscores the widespread adoption and usage of credit cards as a preferred <keyword id="20632158" type="General" weightage="20" keywordseo="payment-method" source="keywords">payment method</keyword> among Indian consumers. "Credit card spending in India increased 19% YoY to Rs 1.7 trillion in Jul'24. The transaction volume during the month was 38.4 crore, up 39% YoY" said the report. The report also noted that among the banks, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> emerged as the leader in terms of transaction volumes, with its credit cards facilitating 9.9 crore transactions during the month. <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> followed closely with 7.1 crore transactions, while SBI secured the third position with 6.3 crore transactions. In terms of transaction value, HDFC Bank again led the way, with a total spend of Rs 44,369 crore through its credit cards in July. ICICI Bank and SBI followed with Rs 34,566 crore and Rs 26,878 crore, respectively. The report said "In Jul'24, transaction volumes was led by cards issued by HDFC Bank (9.9 crore) followed by ICICI Bank (7.1 crore) and SBI (6.3 crore)". Additionally, the <keyword id="22988051" type="General" weightage="20" keywordseo="average-transaction-value" source="keywords">average transaction value</keyword> (ATV) also saw a marginal increase of 1.4% month-on-month in July 2024. This marks the first increase in ATV in ten months, suggesting a shift in consumer behaviour towards higher-value transactions after a period of stagnation. Overall, these figures reflect the growth of credit card usage in India, driven by increased consumer confidence and the convenience offered by credit card transactions.

Indians credit card spending increases 19% YoY to Rs 1.7 trillion in July 2024

New Delhi, Brokerage house <keyword id="46909" type="General" weightage="20" keywordseo="ICICI-Securities" source="Orion">ICICI Securities</keyword> on Friday reported a one per cent decline in profit after tax (PAT) at Rs 271 crore for three months ended June 2023. In comparison, the company reported a PAT of Rs 273.6 crore in the year-ago period, ICICI Securities said in a regulatory filing. The decline in the profit could be attributed to higher expenses, as the broking firm's total expenses shot up by 33 per cent to Rs 570 crore in the quarter under review. However, the company's total revenues rose by 18 per cent to Rs 934 crore in the first quarter under review, from Rs 795 crore in the April-June quarter of financial year 2022-23. During the quarter under review, the company added 2.1 lakh clients, taking its overall customer base to 93 lakh. Last month, ICICI Bank approved a proposal to delist ICICI Securities and become a wholly-owned subsidiary of the bank after delisting. ICICI Securities, promoted by ICICI Bank, is the country's leading retail-led equity franchise, distributor of financial products and investment bank. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different types of services.

ICICI Securities Q1 2023-24 PAT dips 1%, revenues surge 18%

<keyword id="334749" type="General" weightage="50" keywordseo="icici-securities-ltd" source="Orion">ICICI Securities Ltd</keyword> on Wednesday said it is one-year forward Nifty target is 19,425 with a sectoral bias towards banks, capital goods/infrastructure and automobiles. It has suggested investors to avoid sectors like information technology (IT), oil and gas and metals as they have more global exposure. The company has recommended Axis Bank, City Union Bank, Apollo Tyres, Eicher Motors, Coforge, Lemon Tree Hotels, Healthcare Global Enterprises, Laurus Labs, Container Corp, and Havells India stocks as its Muhurat 2022 picks. In a report, <keyword id="46909" type="General" weightage="100" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword> said the year 2022 has been marked by volatility on account of a wide variety of global new flows ranging from geopolitical issues, higher inflation (mainly food and energy), and hawkish action of central banks. This has led to a decline in global equities, mainly in the US and <keyword id="28249" type="General" weightage="50" keywordseo="europe" source="Orion">Europe</keyword>. However, India has relatively outperformed global peers in terms of all economic parameters (capex spend, discretionary consumption, robust pick-up in banking activity, etc), the report notes. The same is reflected across Indian equity markets. "Going ahead, we believe Corporate India will likely deliver earnings growth in excess of 15 per cent over the next two years given the current economic milieu and provide a plethora of investing opportunities in Indian markets," ICICI Securities said. However, sticky global inflation will keep central banks hawkish and India will be no exception. Similar implications for global liquidity flows may create medium-term volatility in Indian markets. However, if such a scenario materialises, then the same will be a strong opportunity to take exposure to Indian equities, the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/financial-data-of-over-9-mn-cardholders-leaked-including-from-sbi-researchers/articleshow/94814538.cms">Financial data of over 9 mn cardholders leaked, including from SBI: Researchers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/these-are-the-5g-bands-supported-by-airtel-and-jio/articleshow/94814497.cms">These are the 5G bands supported by Airtel and Jio – make sure your phone has them</a>

Avoid sectors having global exposure like IT, oil, gas: ICICI Securities

<ul><li>Rise in investments in residential real estate coincides with a rise in the aggregate <keyword id="16695918" type="General" weightage="20" keywordseo="disposable-income-of-households" source="Orion">disposable income of households</keyword>, says a report by ICICI Securities.</li><li>For every square foot that’s built, the realty sector helps generate income anywhere between ₹2,000-6,000, depending on the type of building.</li><li>The average income of a construction worker in rural India as per the Labour Bureau statistics is around ₹500-600 per day while for those in the urban areas it is usually higher.</li></ul>There is a direct correlation between growing household incomes and a vibrant <keyword id="6543013" type="General" weightage="20" keywordseo="real-estate-sector" source="Orion">real estate sector</keyword>. The signs of recovery in the real estate industry are expected to support aggregate <keyword id="386349" type="General" weightage="20" keywordseo="household-income" source="Orion">household income</keyword> considering it is the second-largest employer in India after <keyword id="6355165" type="General" weightage="20" keywordseo="agriculture" source="Orion">agriculture</keyword>, says a report by ICICI Securities. The sector generates a variety of jobs including for construction workers and other informal jobs for masons, plumbers, concrete workers, electricians, carpenters, painters, drivers, helpers, loaders, etc. For every square foot that’s built, it helps generate income anywhere between ₹2,000-6,000, depending on the type of building — ranging from basic to high-rise luxury skyscrapers. “Incremental value additions done to the builder-finished construction by end-users can go up to several thousand rupees per square foot depending upon the taste and capability of the end-user,” ICICI Securities says. <div type="image" title="Real estate report 2" msid="98390920" hostid="261" sizebytes="52976"></div> How much does construction pay? The <keyword id="6462448" type="General" weightage="20" keywordseo="construction-sector" source="Orion">construction sector</keyword> is also a better paymaster than agriculture, the report adds. The average income of a construction worker in rural India as per the Labour Bureau statistics is around ₹500-600 per day. In urban areas, it gets higher. “Anecdotal evidence for larger cities indicates the wages are at least 30-40% higher for construction workers with higher skills and experience,” the report says. Another group of professions to benefit from real estate development are mortgage lenders, material suppliers, contractors, architects, designers, engineers, lawyers, real estate brokers, etc. In addition, allied sectors involved in labour-intensive manufacturing activity in the unorganised segment — such as furniture, ceramics, glassware, lightings and other decorative products – also benefit from an upcycle in real estate. Large-scale organised manufacturing like cement, steel, ceramics, plywood, paints, adhesives, etc are also beneficiaries. “Household real estate investment cycle is rising after a decade of stagnation during which its share in gross fixed capital formation (GFCF) dipped from 37% in FY12 to 25% in 2021. The cyclical recovery in residential real estate will boost income growth of related stakeholders mentioned above. Workers involved in the leisure segment, which again is dominated by the unorganised segment, are also likely to see buoyant income growth,” said the report. However, the report mentions that agriculture wages remain a key risk to aggregate income growth, given its large weight within the aggregate workforce. And the prospects of it will depend on how monsoon and agriculture output pans out in FY24. <div type="image" title="real 3" msid="98390948" hostid="261" sizebytes="48628"></div> Wage bills to rise all across ICICI Securities also says that the aggregate wage bill of the private corporate sector has been expanding more than the nominal GDP growth over the past decade. “The trend is likely to continue in FY24 going by recent salary surveys and hiring trends in the formal segment although IT services, with its large weight, is expected to lag,” the report said. According to a survey by Aon, salaries in India are expected to go up by 10.3% in 2023, in spite of concerns around economic volatility. This could be in response to a high attrition rate of 21.4% in 2022. In 2022, the actual salary increase was slightly higher at 10.6%. The projected salary increase for India is the highest among major world economies like China, US and UK, Aon said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group stocks rally post GQG deal: group marketcap surges by ₹73,000 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tractors-commercial-vehicles-drive-auto-sales-in-february-but-el-nio-threat-looms-large/articleshow/98386451.cms">Tractors &amp; commercial vehicles drive auto sales in February but El Niño threat looms large</a>

Recovery in real estate sector likely to boost household income, says ICICI Securities

<ul><li><keyword id="6354504" type="General" weightage="80" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword>, <keyword id="6354287" type="General" weightage="80" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword> and <keyword id="1553175" type="General" weightage="80" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword> are expected to report another stable quarter with moderate revenue growth.</li><li><keyword id="6383126" type="General" weightage="80" keywordseo="telcos" source="Orion">Telcos</keyword> have been witnessing a slowdown in 4G subscriber additions and rising costs due to the 5G rollout.</li><li>Analysts suggest the much-expected tariff hikes will be the “key trigger” going forward.</li></ul>Slowdown in 4G subscriber additions and lack of tariff hikes in over a year could slow down revenue growth of India’s telecom companies, according to analysts. While the market leader Reliance <keyword id="2003276" type="General" weightage="80" keywordseo="jio" source="Orion">Jio</keyword> is expected to report a net addition in subscribers, its rivals Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword> and Vodafone Idea are expected to report a decline, as per an <keyword id="46909" type="General" weightage="80" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword> estimate. And it would have an effect on the revenues of the sector as a whole. “Our Q3FY23 estimates suggest a deceleration in mobile revenue growth across telcos due to SIM consolidation, lower benefit of premiumisation from slowdown in 4G net add, and absence of tariff hikes,” said an ICICI Securities report. Overall, analysts expect the three telcos to report earnings growth in the range of 9.4-19.7% year-on-year. Reliance Jio is expected to report the highest revenue growth at 19.7% YoY while its close rival Airtel is expected to report a 17.5% increase. Vodafone Idea, on the other hand, is expected to report revenue growth on the lower end at 9.4%, according to ICICI Securities. Overall, on a sequential basis, the revenue growth is expected to flat – in the range of 0.1-1.7% — with Vi being on the lower end once again. <cmsannotation type="cmsannotation" annotationid="Tariff hike the ‘key trigger’ going forward" comment="subhead" text="Tariff hike the ‘key trigger’ going forward">Tariff hike the ‘key trigger’ going forward</cmsannotation> Going forward however, telcos are expected to<a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-and-reliance-jio-could-hike-tariffs-by-as-much-as-10-according-to-analysts/articleshow/96375427.cms"> deliver a 10% tariff hike in Q4 FY23</a>. Tariff hikes, analysts say, are “key triggers” for telecom stocks. “From an industry structure, balance sheet and cash flow viewpoint, telcos remain one of the best positioned and a defensive play to navigate through the market uncertainties, if any. Potential tariff hike is the key trigger,” said a report by Dolat Capital. Telcos have been expected to announce tariff hikes for quite some time now – the last tariff hike in the industry was in December 2021. Analysts had expected telcos to deliver a similar hike in December 2022, which never materialized. While Jefferies sees a tariff hike in Q4 FY23, analysts at IIFL Securities suggest the hike could happen only by mid-2023. “Considering large 5G investments and higher network costs on addition of 5G equipment to towers, we believe the next 4G prepaid tariff hike could probably be in mid-2023. Pushing tariff hikes closer to 2024 elections raises the risk of political backlash,” IIFL Securities noted. Despite rolling out 5G services back in October, both <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-5g-prices-may-be-affordable-for-now-but-expected-to-increase-after-wider-rollout/articleshow/94636173.cms">Airtel and Jio are offering 5G services at no added cost</a> to their subscribers. Cumulatively, the three telcos spent ₹1.5 lakh crore towards their <a href="https://www.businessinsider.in/business/telecom/news/heres-how-much-mobile-bills-can-increase-from-5g-network-service/articleshow/93312184.cms">spectrum purchases</a>. <cmsannotation type="cmsannotation" annotationid="Increased churn adds to lack of tariff hikes" comment="subhead" text="Increased churn adds to lack of tariff hikes">Increased churn adds to lack of tariff hikes</cmsannotation> As the timelines for possible tariff hikes are yet to emerge, the margins will remain stressed as there is one more pain point that’s added to the sector in the form of increased <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-and-reliance-jio-could-hike-tariffs-by-as-much-as-10-according-to-analysts/articleshow/96375427.cms">subscriber churn. Telecom users </a>started shopping for better plans in the last four months. According to the telecom subscriber data for October 2022 released by the Telecom Regulatory Authority of India (TRAI), the number of MNP requests in October surged to 11.81 million – close to September’s 11.97 million, which is the highest in 2022. “The rise in MNP requests over the past five months implies increasing competition for subscribers in the market. This is also evident from the higher churn levels seen during Q2 FY23 across telcos,” said the Jefferies report. Additionally, the rollout of 5G and Jio offering unlimited high-speed data is also likely to change the competitive landscape of the sector. “Subscriber (sub) base for Bharti Airtel and Vodafone Idea is likely to shrink while Reliance Jio’s net sub additions (+5mn) may moderate,” said a report by ICICI Securities. The scrambling for high-end 5G customers in a market that’s already saturated will make the telecom market much tougher, putting margins for the sector under pressure. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/sbi-hdfc-bank-axis-bank-among-other-private-and-public-bank-earnings-could-see-a-further-ramp-up-in-q3-2022/articleshow/96768992.cms">Bank earnings could see a further ramp up in Q3, say analysts</a> <a href="https://www.businessinsider.in/business/startups/news/skippi-ice-pops-what-this-hyderabad-popsicle-brand-is-doing-after-raising-rs-1-crore-from-shark-tank-india-season-1/articleshow/96759786.cms">Skippi Ice Pops – how the Hyderabad-based popsicle brand fared after bagging a ₹1 crore deal on Shark Tank India S1</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-other-it-companies-earnings-preview-for-q3-fy23/articleshow/96731891.cms">December quarter likely to be a weak one for the IT sector – Infosys amongst top analyst picks</a>

Churn and fewer 4G subscribers to slow down telecom revenue growth in Q3

<ul><li>Rising inflation has dampened overall credit card spends in August, but experts say they will bounce back in September thanks to festival sales.</li><li>Overall, Indians spent over ₹1 lakh crore for the sixth consecutive month, and the average dues have continued to rise.</li><li>Indians also spent three times as much using credit cards versus debit cards while buying things on e-commerce websites.</li></ul>Credit card users have spent over ₹1 lakh crore now for the sixth consecutive month. In August, credit card users spent ₹1.13 lakh crore in August, down from ₹1.17 lakh crore in July. This is despite a decline of 2 million in terms of active credit cards in August – the fall is due to RBI’s new guidelines. Trends suggest that people will continue to swipe more credit cards and their spending will hit the ₹1.2 lakh crore mark in September. The spends in September are expected to be buoyed by festive sales across e-commerce and offline retail platforms, after ecommerce spends fell in August. “Upcoming e-com festive sales (Big Billion day and Great Indian Festival) are likely to revive the e-com mix (% of total spends) back to Apr-Jul '22 levels,” said a report by <keyword id="46909" type="General" weightage="80" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword>. A rise in prices and Indians’ love for travel has set the perfect tone for an increase in overall credit card outstandings. “Revival in air travel, hospitality sector as well as increasing inflation outlook set a positive backdrop to credit card spend as well as receivables,” the report added. Indians being tired of not going out anywhere for two years due to the Covid-19 pandemic has helped boost demand in the hospitality sector, according to a report by ratings agency CARE. “FY22 has been a promising year for the sector wherein the revival in the occupancy and RevPAR has led to green shoots for the industry players. The decline in Covid cases, resumption of international flights from March 2022, and strong leisure and wedding demand are the positive factors that should lead to growth in occupancy and ARRs in FY23,” the CARE report said. Dues per card continued their upward trajectory, too. “Receivables, in terms of CC outstanding per CIF at industry level, have trended from ₹18,000 as of December 2021 to ₹20,100 for January to May 2022 and increased to ₹20,300 in July 2022,” the ICICI Securities report added. <cmsannotation type="cmsannotation" annotationid="Here’s a snapshot of the Indian credit card industry" comment="subhead" text="Here’s a snapshot of the Indian credit card industry">Here’s a snapshot of the Indian credit card industry</cmsannotation> <keyword id="6357149" type="General" weightage="80" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> continues to lead the market in total credit cards and spends. <div type="image" title="Credit Card market share August 2022." msid="94537974" hostid="261" caption="&amp;lt;p&amp;gt;Credit card market share August 2022&amp;lt;/p&amp;gt;"></div> However, SBI Card is closing the gap in terms of credit cards in force. <div type="image" title="Credit cards in force trend Jan-Aug 2022." msid="94537984" hostid="261" caption="&amp;lt;p&amp;gt;Credit cards in force&amp;lt;/p&amp;gt;"></div> Despite accounting for only 21% of the total credit cards in use, HDFC Bank users spent 29% of the total money. <div type="image" title="Credit card spends market share August 2022." msid="94537997" hostid="261" caption="&amp;lt;p&amp;gt;Credit card spends market share August 2022&amp;lt;/p&amp;gt;"></div> As far as spends are concerned, HDFC Bank continues to go from strength to strength. <div type="image" title="Credit card spends per card trend Jan-Aug 2022." msid="94538006" hostid="261" caption="&amp;lt;p&amp;gt;Credit card spends per card trend&amp;lt;/p&amp;gt;"></div> However, HDFC Bank credit card users aren’t the most lavish spenders – and two unassuming names are in a tug of war when it comes to this. <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-has-most-valuable-credit-cardholders-in-india-compared-to-hdfc-sbi-citi/articleshow/91784122.cms">IndusInd Bank was once the leader in this metric</a> – it was<a href="https://www.businessinsider.in/finance/banks/news/indians-love-for-travel-is-so-strong-that-its-boosting-credit-card-spends/articleshow/93859780.cms"> dethroned by Bank of Baroda in July</a> – and now it has won back its throne again. <div type="image" title="Credit card value per card August 2022." msid="94538034" hostid="261" caption="&amp;lt;p&amp;gt;Credit card value per card&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-greens-54-rally-tempts-totalenergies-to-book-profits/articleshow/94529227.cms">Adani Green’s 54% rally this year tempts TotalEnergies to book profits</a> <a href="https://www.businessinsider.in/retail/news/jewellery-chains-are-growing-at-the-cost-of-standalone-jewellers-and-its-only-going-to-get-worse-says-world-gold-council-report/articleshow/94510142.cms">Jewellery chains are growing at the cost of standalone jewellers – and it’s only going to get worse, says World Gold Council report</a> <a href="https://www.businessinsider.in/business/telecom/news/amid-concerns-of-jio-airtel-duopoly-analysts-suggest-new-telecom-bill-empowers-govt-to-maintain-competition/articleshow/94502923.cms">Amid concerns of Jio-Airtel duopoly, analysts suggest new telecom bill empowers govt to maintain competition</a>

E-commerce sales likely to drive credit card spends in September even as active cards decline

<ul><li><keyword id="2778410" type="General" weightage="80" keywordseo="havas-media-group" source="Orion">Havas Media Group</keyword>'s Mumbai office has reported a growth of 150% in 2020-2021, on the back of 15+ new account wins.</li><li>In total, <keyword id="906445" type="General" weightage="80" keywordseo="havas-media" source="Orion">Havas Media</keyword> Mumbai has added a total billing of Rs 500+ crore in 2020-2021.</li></ul>Following the strategic restructuring of Havas Media Group India’s senior management a few months ago, the agency’s Mumbai office has reported a growth of 150% in 2020-2021, on the back of 15+ new account wins. This includes <keyword id="508991" type="General" weightage="20" keywordseo="acc-cement" source="Orion">ACC Cement</keyword>, <keyword id="122370" type="General" weightage="20" keywordseo="ambuja-cement" source="Orion">Ambuja Cement</keyword>, <keyword id="46909" type="General" weightage="20" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword>, <keyword id="11954595" type="General" weightage="20" keywordseo="de-beers-forevermark" source="Orion">De Beers Forevermark</keyword>, Wai Wai, GITAM University, Dr. Reddy’s, OZiva, and several others. In addition, the agency has seen tremendous growth on the back of marquee clients like Tata Motors and TVS Eurogrip and their increased media spends even in 2020. In total, Havas Media Mumbai has added a total billing of Rs 500+ crore in 2020-2021. In the last 15 months, Havas Media bolstered its senior leadership team in Mumbai. <keyword id="2928941" type="General" weightage="20" keywordseo="uday-mohan" source="Orion">Uday Mohan</keyword> took over as President &amp; Head - North &amp; West India, which includes the Mumbai operations. In addition, Manish Sharma was elevated, as Executive Vice President and Head of the Mumbai operations. To further strengthen the strategy teams, Sanchita Roy was appointed, as Strategy Head of Havas Media Group India. <keyword id="1193084" type="General" weightage="20" keywordseo="rana-barua" source="Orion">Rana Barua</keyword>, Group CEO, Havas Group India, said, “Despite the market challenges, in the last 15 months we stuck to our task, defined our vision and kept investing in both our talent and product. In 2020, Havas Media Group India has garnered a growth rate of 35% (RECMA June 2020) - the highest among all media agency networks in India. From the group perspective, I am delighted as the overall results are a testimony of the leadership of Mohit, Uday, Venkat and the entire Havas Media team, which has been working relentlessly on both existing clients and also winning many new ones.” Mohit Joshi, Chief Executive Officer, Havas Media Group India, further added, “Our North operations have always been extremely strong, and now it&amp; heartening to see the same being replicated in other markets. We have seen both organic growth and won some fabulous new client wins in the West in the last 15 months resulting in an unprecedented growth. The wide range of new businesses that we have added in our portfolio across industries and sectors demonstrates our talent and prowess as a media conglomerate." Uday Mohan, President &amp; Head - North &amp; West India, who has led this unprecedented resurgence story of Havas Media in the West, said, “We are firmly aligned to the network’s global philosophy of creating Meaningful Media and Brands. Havas Media Group is growing the business on 4 pillars - product, people, pitches, and partnerships. Built on the Media Experience [Mx] operating structure, each phase of the Mx process is powered by Converged, an identity–based planning platform, which places the audience including data, convergence, automation and AI, strategy, e-comm and marketplace, and so on, at the heart of the media planning process and capitalizes on media that matters.”

Havas' Mumbai office reports a growth of 150% in 2020-2021, adds new businesses worth over Rs 500 crore

ETFs performed better than actively-managed equity mutual funds in FY23

Mumbai, As the <keyword id="444236" type="PERSON" weightage="20" keywordseo="Indian-equity-market">Indian equity market</keyword> bucked the pandemic-induced slowdown and surged to new highs in the <keyword id="426914" type="PERSON" weightage="20" keywordseo="current-financial-year">current financial year</keyword>, an <keyword id="7442614" type="UNKNOWN" weightage="20" keywordseo="ICICI-Securities-report">ICICI Securities report</keyword> said that 24 stocks have contributed over 75 per cent to the movement of <keyword id="1435368" type="PERSON" weightage="20" keywordseo="BSE-100-index">BSE-100 index</keyword>. The report noted that although the bulk of the equity market performance since <keyword id="2259305" type="PERSON" weightage="20" keywordseo="FY17">FY17</keyword> has been driven by a handful of stocks while the broader indices have underperformed, significantly, the recent rally is becoming broad-based for the first time since FY17. "The tide is turning in terms of the number of stocks contributing to majority of the Index performance (&gt;75 per cent of BSE 100 index movement) at 24 stocks, which is the highest over the past four years," it said. Small-cap and mid-cap indices have also outperformed large-caps for the first time since FY17. The report noted that anatomy of FY21 market rally indicates four <keyword id="10404818" type="UNKNOWN" weightage="20" keywordseo="distinct-phases">distinct phases</keyword> where high level of sector and style rotation has been observed. Activity in Phases II and IV indicates that the rally is becoming broad-based, it added. Normalisation of economic activity continues, but second wave of Covid poses near-term challenges even with hopes of vaccine turning into reality, said the report. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/what-is-pm-wani-public-wifi-platform-launched-by-union-cabinet/articleshow/79642267.cms">Government’s plan for public Wi-Fi lets anyone from the kirana store owner to tea shop stalls sign up to provide the internet</a> <a href="https://www.businessinsider.in/business/corporates/news/the-33-billion-itc-one-of-indias-most-trolled-stock-in-recent-weeks-seems-to-have-turned-a-corner/articleshow/79641456.cms">The $33 billion ITC, one of India’s most-trolled stock in recent weeks, seems to have turned a corner</a>

You Searched For "ICICI Securities report" and got 9 results

Indians credit card spending increases 19% YoY to Rs 1.7 trillion in July 2024

ANI

ICICI Securities Q1 2023-24 PAT dips 1%, revenues surge 18%

PTI

Avoid sectors having global exposure like IT, oil, gas: ICICI Securities

IANS

Recovery in real estate sector likely to boost household income, says ICICI Securities

Bhakti Makwana

Churn and fewer 4G subscribers to slow down telecom revenue growth in Q3

Rounak Jain

E-commerce sales likely to drive credit card spends in September even as active cards decline

Rounak Jain

Havas' Mumbai office reports a growth of 150% in 2020-2021, adds new businesses worth over Rs 500 crore

BI India Partner

ETFs performed better than actively-managed equity mutual funds in FY23

Bhakti Makwana

Market rally widens, 24 stocks underpin most of BSE-100's FY21 performance

IANS

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