The Indian banking and financial services sector demonstrated remarkable resilience and growth momentum during Q3 FY26, with major institutions across segments reporting strong business expansion. From non-banking financial companies to public and private sector banks, the comprehensive performance data reveals a sector firing on all cylinders, driven by robust deposit mobilization and credit growth.

NBFC Sector Performance

Bajaj Housing Finance emerged as a standout performer with exceptional growth across key operational metrics. The company's gross disbursements reached impressive levels, while its asset base expanded significantly year-over-year.

Bajaj Finance continued its expansion trajectory with substantial customer base growth and strong asset quality. The company's customer franchise reached 115.40 million as of December 31, 2025, compared to 97.12 million in the previous year, representing an addition of 18.28 million customers. New loans booked grew 15% to 13.90 million in Q3 FY26, while AUM expanded 22% to approximately ₹4,85,900.00 crore. The deposits book stood at ₹71,000.00 crore, up from ₹68,797.00 crore in December 2024.

Public Sector Banking Excellence

Bank of Baroda delivered comprehensive growth across its global operations, with particularly strong performance in retail advances. The bank's global business expanded 12.22% year-over-year to ₹28,90,661.00 crore, driven by robust domestic operations.

Bank of India and IDBI Bank also reported strong provisional performance, with Bank of India's global business reaching ₹16,27,098.00 crore, up 12.50% year-over-year, while IDBI Bank's total business expanded to ₹5,46,634.00 crore, reflecting a robust 12% increase from ₹4,89,245.00 crore.

Small Finance Bank Momentum

The small finance banking segment demonstrated exceptional growth momentum, with multiple institutions reporting double-digit expansion rates. AU Small Finance Bank led the charge with total deposits climbing 23.3% year-over-year to ₹1,38,420.00 crore, while gross advances expanded 24% to ₹1,25,210.00 crore.

Ujjivan Small Finance Bank posted total deposits of ₹42,219.00 crore, up 22.2% from ₹34,494.00 crore, with gross loan book expanding 21.6% to ₹37,055.00 crore. Sequential quarter-on-quarter growth remained strong at 7.5% for deposits and 7.1% for loans.

Regional Banking Performance

Regional banks also contributed to the sector's positive performance, with Bandhan Bank reporting loans and advances reaching ₹1,45,227.00 crore, up 10% year-over-year, while total deposits grew 11.1% to ₹1,56,723.00 crore. Jammu & Kashmir Bank's total business grew to ₹2,72,109.27 crore, up 13.34% year-over-year, with deposits reaching ₹1,55,861.35 crore, representing 10.58% growth.

Union Bank of India reported gross advances reaching ₹10,16,805.00 crore, up 7.13% year-over-year from ₹9,49,164.00 crore, while Equitas Small Finance Bank's gross advances touched ₹43,269.00 crore, marking a 15.86% year-over-year increase. The comprehensive performance across institutions reflects the sector's fundamental strength and growth potential in the current economic environment.

Oil marketing companies, major banking institutions, and consumer goods firms are positioned to dominate market attention with a mix of quarterly business updates, fundraising initiatives, and strategic corporate developments. The trading session will witness significant corporate actions including fundraising plans and the exit of anchor lock-in periods for multiple stocks.

Oil Sector Developments

Venezuelan oil developments are expected to have limited market impact despite the country accounting for 1% of global oil production. The oversupply conditions in the oil market are likely to contain any significant price movements. While Reliance Industries' refineries possess the capability to process Venezuelan heavy and sour crude oil, the benefits for public sector oil marketing companies remain constrained.

Banking Sector Performance

Major public sector banks have reported strong business growth metrics for the third quarter. The performance indicators demonstrate robust expansion across key business parameters.

Bank of Baroda's detailed metrics show global deposits rising 10.30% to ₹15.50 lakh crore, with domestic deposits growing 11% to ₹13.10 lakh crore. Global advances increased 14.60% to ₹13.40 lakh crore, while domestic retail advances surged 17.30% to ₹2.90 lakh crore.

Punjab National Bank reported domestic deposits increasing 8.30% to ₹15.90 lakh crore and global deposits up 8.50% at ₹16.60 lakh crore. Domestic advances grew 10.20% to ₹11.70 lakh crore, with global advances rising 11% to ₹12.30 lakh crore.

Consumer Goods and Financial Services

Marico delivered strong operational performance with India volumes growing in high single digits, showing sequential improvement trends. Parachute volumes turned positive following grammage adjustments, while value-added hair oils achieved growth in the twenties percentage range. The foods business segment is positioned for recovery over the upcoming two quarters.

Bajaj Finance demonstrated significant expansion with Q3 AUM growth of ₹23,600 crore and customer franchise增长 of 47.60 lakh users. New loans booked increased 15% to 1.40 crore, bringing the total customer base to 11.50 crore as of December 31, representing 18.60% growth. The deposits book expanded 3.20% to ₹71,000 crore.

Bajaj Housing Finance reported Q3 gross disbursements up 31.50% YoY at ₹16,535 crore, with assets under management rising 23% to ₹1.33 lakh crore and loan assets increasing 22.70% to ₹1,17,290 crore.

Corporate Actions and Fundraising

Several companies have announced significant fundraising and strategic initiatives:

Dixon Tech's subsidiaries Kunshan Q Tech Microelectronics (India) and Dixon Electroconnect received government approval under the electronic components manufacturing scheme for camera module sub-assembly and optical transceiver-SFP manufacturing.

Market Structure Changes

Five stocks are set to exit anchor lock-in periods, releasing held equity for secondary market trading. Avenue Supermarts posted 13% standalone revenue growth to ₹17,613 crore, expanding its store network to 442 locations as of December 31. Vedanta reported total aluminium production up 1% YoY at 620 KT, with Zinc India mined metal output rising 4% to 276 KT and international zinc production surging 28% to 59 KT.