Banking and Financial Services (BFSI)

The BFSI sector has demonstrated robust performance, with a 22% year-on-year earnings growth in Q3 FY24. This growth is primarily driven by Non-Banking Financial Companies (NBFCs) and public sector banks. Notable contributors include Indian Railways Finance Corp,

, and , which have seen impressive stock returns of 250%, 191%, and 199% respectively over the past year. Public sector banks like Indian Overseas Bank, UCO Bank, and Union Bank of India have also delivered significant returns, attributed to attractive valuations and improved asset quality.