RBL Bank's total business crore to Rs 2.5 lakh crore-mark in Q3 FY26

by Hansraj Agrawal | Apr 3, 2026 | Share Market

RBL Bank said that the total business of the bank as 31 March 2026 was Rs 2.54 lakh crore, reflecting a growth of 24% from Rs 2.05 lakh crore as on 31 March 2025.

Total deposits as 31 March 2026 stood at Rs 1.39 lakh crore, up 25% YoY and 16% QoQ.

CASA deposits aggregated to Rs 46,723 crore as on 31 March 2026, up 23% YoY and 26% QoQ. CASA ratio improved sequentially to 33.6% in Q3 FY26 from 30.9% in Q2 FY26.

Gross advances of the bank increased to Rs 1.15 lakh crore as on 31 March 2026, up 22% YoY and 11% QoQ.

On the asset side, secured retail advances grew 36% YoY and 17% QoQ, while overall retail advances rose 18% YoY. Wholesale advances grew 27% YoY, with commercial banking up 29% YoY. The retail-to-wholesale mix stood at approximately 59:41 at the end of Q3 FY26.

The bank stated that its liquidity remained comfortable, with LCR at 130%. Collection efficiency in the joint liability group (JLG) segment was 99.7% for March 2026.

RBL Bank provides a wide range of banking and financial services, including wholesale banking, retail banking, treasury operations, and other banking-related activities. As of 31st December 2025, the bank has 1,921 total touch points of which 580 are bank branches and 1,341 business correspondent branches. Of 1,341 BC branches, 291 are banking outlets. RBL Finserve, a 100% subsidiary of the Bank, accounts for 1,084 business correspondent branches.

The scrip had shed 0.18% to end at Rs 301 on the BSE yesterday.

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Nomura downgrades India equities to neutral on oil, AI and inflow risks

by Hansraj Agrawal | Apr 3, 2026 | Share Market

Nomura has downgraded Indian equities to ‘neutral’ from ‘overweight’, citing rising risks from elevated oil prices amid ongoing geopolitical tensions in the West Asia, a potential slowdown in domestic inflows, and concerns around India’s weak positioning in the artificial intelligence (AI) landscape.

The brokerage said prolonged disruptions to energy supplies through the Strait of Hormuz could keep oil prices elevated for longer than previously expected, posing a significant headwind to India’s economy and corporate earnings.

According to Nomura, India remains among the most vulnerable economies in Asia to sustained high energy prices due to its heavy reliance on imports.

“Rising/elevated oil/commodity prices have historically been a key source of vulnerability for India equities, and this dynamic is once again becoming a significant headwind for Indian equities,” wrote Chetan Seth, Asia Pacific-Equity Strategist, Nomura, in a note dated April 1.

The global brokerage has recommended that investors switch to South Korea and China, where it maintains an ‘overweight’ stance.

Nomura also noted that Indian equities have underperformed regional peers, particularly as global investors gravitate towards markets more directly linked to the ongoing AI-led technology cycle. Seth said these concerns continue to linger.

“First, even before the war, investors appeared to be concerned about AI and its implications for India’s demographic dividend, consumption outlook and structural story. While we think it is still too early to draw definitive conclusions, these concerns can still weigh on investor sentiment unless proven otherwise,” he said, terming India an “AI have-not” market.

Foreign portfolio investors (FPIs) have remained persistent sellers, offloading around $61 billion worth of Indian equities since late 2024. Domestic investors have so far cushioned the impact through systematic investment plan (SIP) inflows.

However, Nomura has warned that incremental participation could moderate if market returns remain subdued.

Valuations, too, remain a concern, the brokerage said.

The MSCI India index trades at about 18.9 times forward earnings — a premium of 55 per cent to Asia ex-Japan peers — even as earnings estimates have yet to fully factor in potential downside risks from higher energy prices.

Last month, Nomura’s India strategist lowered the December 2026 Nifty target to 24,900 from 29,300, citing risks to earnings growth estimates.

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Crisil Ratings downgrades ratings of Maithan Alloys to 'AA-' with 'stable' outlook

by Hansraj Agrawal | Apr 3, 2026 | Share Market

Maithan Alloys (MAL) said that Crisil Ratings has downgraded its rating on the long-term bank facilities of to ‘Crisil AA-/Stable’ from ‘Crisil AA/Negative’.

The agency has, however, reaffirmed the company’s short-term rating at ‘Crisil A1+.

Crisil Ratings stated that the rating action reflects continuation of subdued business risk profile of MAL, particularly due to a consistently muted top line and pressure on profitability.

In the first nine months of fiscal 2026, sales volume of over 1.8 lakh metric tons and moderate realization of around Rs 80,000 per ton, resulted in operating income (including other related income) being limited to Rs 1,613 crore.

Power costs, forming around 30% of the total cost of sales, continue to have a significant bearing on profitability, resulting in an operating margin of 9.5% in the first nine months of fiscal 2026.

In the absence of a significant reduction in power costs, the recovery in the scale of operations remains lower than expected, and scale and profitability are likely to remain range-bound over the medium term.

For MAL, operating margin lowered to 710% in the two fiscals through 2025, down from over 1337% in the five fiscals through 2023.

Low sales volume, coupled with a moderation in realizations to around Rs 80,000 per ton in fiscals 202425 from over Rs 1,10,000 per ton in fiscal 202223, limited overall revenue to around Rs 1,700-1,800 crore in fiscals 2024-25.

These factors, combined with high investments of Rs 3,636 crore as of 31 March 2025 in current and non-current assets resulted in a low return on capital employed (RoCE) of 69% in fiscals 202425. RoCE is expected to be sustained at around the same level on the basis of limited contribution from the ferro alloy segment over the medium term.

The ratings continue to reflect extensive experience of promoters and strong financial risk profile. These strengths are partially offset by exposure to volatility in prices of raw materials and finished goods and cyclicality in the ferro alloys industry.

MAL, established in 1985, manufactures ferroalloys such as ferro manganese, ferro silicon and silico manganese, with varying proportions of other chemical compositions.

The scrip had advanced 1.30% to end at Rs 905.85 on the BSE yesterday.

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Care Edge Ratings reaffirmed ratings of Metro Brands at 'AA/A1+' with 'stable' outlook

by Hansraj Agrawal | Apr 3, 2026 | Share Market

Last Updated : Apr 03 2026 | 5:31 PM IST

Metro Brands said that the credit rating agency Care Edge Ratings has reaffirmed the company’s long-term rating at ‘CARE AA’ with ‘stable’ outlook.

The agency has also affirmed the company’s short-term rating at ‘CARE A1+’.

Care Edge Ratings stated that the reaffirmation of ratings assigned to Metro Brands Limited’s (MBL or the Company) bank facilities is driven by the extensive experience of promoters and long-standing presence in the footwear industry.

MBL benefits from a well-established market position and a broad distribution network across India, contributing to consistent operational performance and a robust financial risk profile marked by ample liquidity and low gearing.

However, MBL faces challenges in the competitive and fragmented industry landscape dominated by unorganised players, and aggressive expansion by emerging brands and reliance on unorganised vendors or third parties for manufacturing.

The company’s ability to adapt to evolving industry dynamics, scale up operations, maintain healthy margins, and uphold a resilient financial risk profile will be crucial determinants of ratings.

Metro Brands is one of India’s largest specialty footwear retailers, operating in premium and economy categories. As on 31 December 2025, MBL has a nationwide presence with 990 stores across 212 cities in 31 states and union territories, complemented by a rapidly growing online presence.

The company had reported 35.71% rise in consolidated net profit to Rs 128.35 crore on a 15.39% to Rs 811.27 crore in Q3 FY26 over Q3 FY25.

The scrip had risen 2.26% to end at Rs 938.60 on the BSE yesterday.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 03 2026 | 5:31 PM IST