CARERATING Q1 FY24 Result Update:
- GST collections, bank credit growth, fund raising activities had been positive, indicating a strong growth trajectory.
- In June 2023, the gross bank credit growth has accelerated to 16.2% as against 14.5% in the same period last year. This growth was driven by the services segment followed by retail. Credit to industries increased by 8.1%; while credit growth to large enterprises improved to 6.4% as against 3.2% last year.
- Corporate bond and commercial paper issuances picked up pace in Q1 FY24. Fundraising through corporate bond issuances has more than doubled from the same period last year. Fundraising through commercial paper also witnessed an increase during the period.
- Foresee some moderation in growth during FY24.
- Government Capex/Private Capex both are increasing.
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