Tag: ICICI Bank

  • Credit Card Spending Surges: HDFC, SBI Card, ICICI, and Axis Drive Rs 1.58 Lakh Crore in July 2026

    Credit Card Spending Surges: HDFC, SBI Card, ICICI, and Axis Drive Rs 1.58 Lakh Crore in July 2026

    India’s top four credit card issuers recorded a combined spending of nearly Rs 1.58 lakh crore in July 2026, underscoring the dominance of major banks in the country’s expanding card payments market. HDFC Bank, SBI Card, ICICI Bank, and Axis Bank continued to account for the bulk of transactions as overall card usage stayed above the Rs 2 lakh crore mark for the third straight month.

    HDFC Bank Leads the Pack

    HDFC Bank remained India’s largest credit card issuer by spending in July 2026, with transactions worth approximately Rs 60,218 crore. The bank captured nearly 28.9% of the country’s total credit card spending, recording a 1.3% increase from June and an 11.9% rise year-on-year.

    SBI Card Holds Strong Despite Monthly Dip

    SBI Card reported around Rs 39,592 crore in credit card spending during July 2026. While spending slipped 3.6% from June, the issuer still logged robust annual growth of roughly 21.6%. SBI Card held about 19% of the overall credit card spending market, according to industry data.

    ICICI Bank Shows Strong Monthly Recovery

    ICICI Bank’s credit card spending reached approximately Rs 34,025 crore in July 2026. The lender posted one of the strongest monthly recoveries among the leading issuers, with spending climbing 8.3% from June. However, July spending remained below the year-ago level, based on RBI data.

    Axis Bank Posts Solid Monthly Growth

    Axis Bank recorded around Rs 23,825 crore in credit card spending during July. Its spending rose 7.4% month-on-month, a stronger monthly performance than HDFC Bank and SBI Card. Axis accounted for about 11.4% of total industry spending, and its credit card base remained among India’s largest.

    India’s Total Credit Card Spending Remains Above Rs 2 Lakh Crore

    Overall credit card spending in India reached roughly Rs 2.08 lakh crore in July 2026, up 3.4% from June and 7.4% from July 2025. The total stayed above the Rs 2 lakh crore threshold for the third consecutive month, signaling continued momentum in card-based payments.

    Credit Card Base Continues to Expand

    India had around 12.29 crore credit cards outstanding by July 2026. Banks added a net 1.26 million cards during the month, an 11.5% increase over June additions. Transaction volumes climbed 24.5% year-on-year to about 60.5 crore, while the average transaction value declined to nearly Rs 3,440.

  • Apple Pay’s India Debut Could Begin With Axis Bank as First Partner

    Apple Pay’s India Debut Could Begin With Axis Bank as First Partner

    Apple Pay Prepares for India Launch

    Apple is preparing to bring its Apple Pay service to India, with Axis Bank expected to be its first banking partner for the rollout, according to people familiar with the matter. The service could launch in India as soon as next month, starting with support for Axis Bank credit cards.

    Discussions With HDFC Bank and ICICI Bank

    Apple has also held discussions with HDFC Bank and ICICI Bank about adding their cards to Apple Pay, but those talks have not yet resulted in final commercial agreements, according to two sources. Apple and the three banks declined to comment to Reuters on the discussions.

    Apple Pay is designed to allow iPhone users to make contactless payments using tokenized versions of their card details. Card information is stored on the device, so users can pay without opening another payment app. Apple is expected to add more banks through separate agreements over time, allowing the service to expand gradually after its initial rollout.

    Entering a UPI-Dominated Market

    Apple Pay will enter a payments ecosystem where UPI accounts for a major share of digital transactions. According to Reuters, UPI represented 84% of India’s digital payment volume. The National Payments Corporation of India has also introduced a tap-and-pay option using near-field communication technology, giving smartphone users another way to make contactless payments.

    Recent changes in payment rules have also created room for Apple Pay. The Reserve Bank of India allowed biometric authentication for card payments last year, supporting card transactions through features such as Face ID and Touch ID.

    Apple’s Growing Presence in India

    The India entry comes as Apple gains ground in the country’s smartphone market. Counterpoint Research data cited by Reuters shows Apple’s market share reached 8%, twice its level in 2022. India is now among Apple’s largest smartphone markets.

    Axis Bank had about 16.26 million active credit cards in July, according to RBI data, making it the fourth-largest card issuer in India after HDFC Bank, SBI Cards, and ICICI Bank. An Apple Pay launch would give Apple a foothold in India’s contactless card payment segment, and its expansion will likely depend on adding more banks and card networks to the service.

  • Stocks to Watch Today: Major Indian Companies Under Market Spotlight

    Stocks to Watch Today: Major Indian Companies Under Market Spotlight

    Investors are closely monitoring a lineup of prominent Indian companies today as market activity is expected to be influenced by sector developments, financial performance expectations, and broader economic indicators. Below is a breakdown of the key stocks in focus and the factors driving investor attention.

    Reliance Industries: Market participants will track business developments, expansion plans, and sector trends that could influence trading activity throughout the session.

    Tata Consultancy Services: Technology sector cues, client demand, and company-specific updates are being watched for their impact on investor sentiment.

    Infosys: Order wins, digital transformation demand, and global technology spending trends remain focal points for stock movement.

    HDFC Bank: Banking sector developments, lending trends, and regulatory announcements could keep the country’s largest private lender in focus.

    ICICI Bank: Strong financial performance expectations and banking sector momentum may influence trading activity.

    State Bank of India: Public sector banking updates, credit growth, and economic indicators are key drivers of investor attention.

    Bharti Airtel: Telecom sector developments, subscriber additions, and network expansion plans could shape share movement.

    Larsen & Toubro: Infrastructure orders, project execution updates, and government spending announcements may affect sentiment around the engineering major.

    Adani Ports: Port traffic, logistics demand, and infrastructure developments are expected to keep the company on watchlists.

    For more stories and real-time updates, join our WhatsApp Channel to get the latest news, exclusives, and videos.

  • Undervalued Stocks to Watch in July 2026: Indian and Global Opportunities

    Undervalued Stocks to Watch in July 2026: Indian and Global Opportunities

    July 2026 presents compelling opportunities in undervalued stocks across Indian and global markets. Strong earnings, reasonable valuations, and clear business growth make these companies worth watching for long-term investors.

    Overview

    Strong companies can become attractive investments when market prices stay below their true value. Indian banking, pharmaceuticals, logistics, and financial services offer several promising value opportunities. Global technology, financial, industrial, and gold companies also present attractive long-term potential.

    July 2026 has brought a new phase for stock markets. Many companies have delivered solid business results, but their share prices have not fully reflected that progress. This gap between business value and market price has created fresh opportunities for long-term investors. Instead of broad market rallies, experts now believe careful stock selection offers better chances for success.

    In India, foreign institutional investors have reduced their holdings in several large companies. Their ownership in the country’s ten biggest stocks has fallen to the lowest level seen in almost twenty years. This decline has pushed the prices of some strong businesses below their usual valuation levels. Market experts believe this situation has opened the door for investors who focus on company fundamentals instead of short-term market movements.

    Strong Indian Stocks with Attractive Valuations

    Several Indian companies stand out for their healthy financial performance and reasonable share prices. ICICI Bank is one of the strongest names in the banking sector. The bank has reported steady profit growth and continues to expand its lending business. Even after this progress, its valuation is below that of many leading international banks. Strong credit demand and retail loan growth could support future gains.

    Axis Bank also looks attractive. The bank has improved its asset quality over the last few years, while profits have continued to rise. Better operating margins have added further confidence. Despite these improvements, the stock still trades at a valuation that many analysts consider attractive.

    Sun Pharmaceutical Industries continues to show strength through stable earnings and healthy cash flow. The company’s specialty medicine business has also added new growth opportunities. Even with these positives, the stock is reasonably priced compared with its long-term potential.

    Adani Ports and Special Economic Zone is an important player in India’s logistics sector. Trade activity and cargo movement continue to support business growth. After a correction in valuation, the company now appears more attractive for long-term investors.

    Motilal Oswal Financial Services has also attracted attention. The company has delivered strong earnings and continues to expand its presence in financial services. Growth in capital market activity may support future business performance.

    Godawari Power and Ispat has maintained a healthy balance sheet and strong earnings. Infrastructure development across the country could increase demand for steel products, which may benefit the company in the coming years.

    Can Fin Homes has continued to report stable loan growth. The housing finance sector is an important part of India’s economic expansion, and the company’s current valuation appears reasonable.

    Tamilnad Mercantile Bank also deserves attention. The bank combines solid profitability with a comparatively low market valuation. Continued growth in regional banking could provide additional support for future performance.

    Global Companies Worth Watching

    Several international companies also appear undervalued based on current market conditions. Charles Schwab is a leading financial company in the United States. Market experts believe its current valuation does not fully reflect its earnings potential. As financial activity improves, the company could benefit from stronger business performance.

    Bank of America also trades below its historical valuation levels. The bank continues to report stable earnings and is one of the largest financial institutions globally. Many analysts expect future improvements as economic conditions stay stable.

    Intel continues to attract attention as a turnaround opportunity. The company has faced challenges in recent years, but investments in advanced chip manufacturing and technology development may strengthen its long-term position.

    Accenture also appears attractive despite its leadership in technology consulting. Demand for artificial intelligence services continues to rise, and the company is well placed to benefit from this trend. Many analysts believe its current valuation offers meaningful upside.

    Opportunities Beyond Technology

    The industrial and mining sectors also offer attractive opportunities. Regal Rexnord has gained attention for its role in AI infrastructure. Market experts, including Kerrisdale Capital, estimate that the company could deliver about 81% upside based on a detailed valuation study. Growing demand for data centers and industrial equipment may support future growth.

    Gold producers have also entered the spotlight. Newmont is one of the largest gold mining companies in the world. Strong cash flow and healthy gold prices continue to support its business.

    Equinox Gold also appears attractive. Stable production and supportive commodity prices have improved investor confidence. Both companies could benefit if demand for gold stays strong.

    Stocks That Analysts Currently Prefer

    Recent market reports have also highlighted CreditAccess Grameen and Lodha Developers as stocks to watch during the first week of July 2026. Analysts believe these companies offer attractive opportunities with healthy earnings expectations and supportive technical indicators. These stocks suit investors who prefer short- to medium-term market opportunities rather than deep value investing.

    Final Thoughts

    July 2026 has created several attractive opportunities across both Indian and global markets. Strong businesses with healthy earnings, stable cash flow, and solid growth plans now trade at valuations that many experts consider reasonable. Indian names such as ICICI Bank, Sun Pharmaceutical Industries, Adani Ports and Special Economic Zone, Motilal Oswal Financial Services, and Godawari Power and Ispat continue to receive positive attention.

    Among global companies, Accenture, Charles Schwab, Regal Rexnord, Newmont, and Intel are popular choices for their long-term growth potential and attractive valuations. While every investment carries some level of risk, these companies combine strong business fundamentals with clear future growth opportunities. Careful research and a long-term approach are important when evaluating any investment decision.

    FAQs

    1. What is an undervalued stock? An undervalued stock trades below its estimated true value based on business performance and financial strength.
    2. Why are undervalued stocks attractive? They may offer better long-term returns if the market later recognizes their true value.
    3. Which Indian sectors look attractive in July 2026? Banking, pharmaceuticals, logistics, housing finance, financial services, and steel stand out.
    4. Which global sectors offer value opportunities? Financial services, technology, industrial companies, and gold mining companies appear attractive.
    5. Are undervalued stocks risk-free? No. Every investment carries risk, so careful research and a long-term approach remain important.
  • Indian Stock Market Rebound: Sensex Ends Near 77,000, Nifty Closes Above 24,000 with Broad-Based Rally

    Indian Stock Market Rebound: Sensex Ends Near 77,000, Nifty Closes Above 24,000 with Broad-Based Rally

    Indian equity markets staged a strong recovery on June 24, rebounding sharply after the previous session’s selloff. The BSE Sensex surged over 830 points to reclaim the 77,000 mark, while the Nifty 50 crossed the 24,000 level, supported by broad-based buying across sectors.

    Key highlights from the session:

    • Benchmark gains: Sensex closed at 76,991.22, up 790.54 points (1.04%), and Nifty settled at 24,021.65, gaining 0.83%.
    • Top movers: Trent led gainers with nearly 4% rise, followed by ICICI Bank (up 2.29%) and HDFC Bank (up 1.30%). Tata Motors rebounded nearly 4%.
    • Sector performance: Banking stocks dominated volumes, with ICICI Bank and HDFC Bank among the most traded. The Nifty IT weight fell to a record low below 7.6% amid AI concerns.
    • Market breadth: MidCap and SmallCap indices lagged, while India VIX declined, signaling easing volatility.
    • Global cues: Easing crude oil prices and mixed US Fed expectations improved sentiment. Japan’s Nikkei fell 0.88% on Fed rate fears.
    • Corporate and other news: Rashi Peripherals to acquire 67% of VDA Infosolutions for ₹368 crore; EMA Partners India acquires Taggd for ₹95 crore; Amitabh Bachchan sold 0.79% stake in DP Wires; Adani Group announced nuclear energy entry targeting 10 GW by 2035.
    • Currency and commodities: Rupee strengthened marginally to 94.6650/USD. Gold, crude oil, copper, and natural gas traded lower.
    • Market closure: Indian exchanges will remain shut on June 26 for Muharram.

    The recovery was driven by return of buying in heavyweight stocks, improved risk appetite, and positive domestic developments. Analysts noted that sustained support from large caps and stable global conditions remain crucial for maintaining momentum.