Though asset quality remained benign, provisions seem optically higher as IHFL used the DTA benefit to make prudent provisions. Cut in lending rates weighed on NIMs which restricted NII growth to sub-20%.
We recently met Govind Shrikhande, MD, Shoppers Stop (SSL). Apart from recent IPO listing which has re-rated most retail stocks, we expect retailers like SSL to reap benefits from higher discretionary spends.
Reliance Capital (RCAP) hosted an analyst meet attended by Anil Ambani and management team from across business segments to spell out its growth strategy. The chairman appears firm to wind down major part of non-core business