ICRA Reports

  • How Oil&Gas cos fared in FY13 so far: ICRA  

    ICRA has come out with its report on oil and gas sector. According to the research firm, Under-recovery incidence on the upstream public sector companies amounted to Rs 302 billion for H1 FY13 which was 39% higher than the burden ...

    20 Dec 2012, 5.40 pm  |  Source:

  • RBI likely to reduce repo rate in Jan 2013 policy: ICRA  

    The Central Bank is expected to ease liquidity in the near term through open market operations and likely to reduce the repo rate in the January 2013 policy: Naresh Takkar, MD & CEO, ICRA Ltd.

    18 Dec 2012, 4.14 pm  |  Source:

  • RBI may maintain repo rate in upcoming policy review: ICRA  

    ICRA has come out with its comments on November inflation data. The research firm continue to expect the RBI to maintain the repo rate in the upcoming policy review and reduce it by 25 bps in the quarterly review to be held in Jan...

    14 Dec 2012, 2.18 pm  |  Source:

  • Tyre industry revenues may grow by 13-14% in FY13: ICRA  

    ICRA has come out with its report on Indian tyre industry. The research firm, expects the subdued conditions in the domestic auto industry and the weak export outlook to the EU to curb demand growth in 2012-13 and Indian tyre indu...

    12 Dec 2012, 6.16 pm  |  Source:

  • Expect tractor sales to be tepid in Q3FY13: ICRA  

    ICRA has come out with its report on Indian Tractor Industry. According to the research firm, tractor sales is expected to be tepid in Q3FY13, in light of weak Kharif output and concerns over the delayed sowing of rabi crop.

    10 Dec 2012, 6.04 pm  |  Source:

  • Outlook on Indian mortgage finance market: ICRA  

    ICRA has come out with its report on performance review of housing finance companies and industry outlook. According to the research firm, gross Domestic Product (GDP) growth is expected to be lower and several sectors are facing ...

    05 Dec 2012, 1.19 pm  |  Source:

  • Macro woes dampener, FY13 inflation seen at 7.5-7.7%: ICRA  

    ICRA Research Services has come out with its report on economic outlook and macro trends. According to the research firm, macroeconomic fundamentals remain clouded despite the lower-than-expected shortfall in monsoon rainfall.

    26 Nov 2012, 1.29 pm  |  Source:

  • Sluggish conditions to soften base metals demand: ICRA  

    ICRA expects the near term demand outlook for non ferrous metals to remain soft, due to the prevailing sluggish macro-economic conditions globally.

    09 Nov 2012, 4.08 pm  |  Source:

  • Outlook on non ferrous metals: ICRA  

    ICRA Research Services has come out with its report on Indian non ferrous metals industry. According to the research firm, demand for aluminium is India is derived mostly from the power and construction sectors that together contr...

    09 Nov 2012, 12.32 pm  |  Source:

  • ICRA expects 50 bps Repo rate cut by year end  

    RBI has cut the Cash Reserve Ratio (CRR) by 25 basis points to 4.25% to support economic activity and pre-empt liquidity pressures during the busy season: ICRA

    30 Oct 2012, 2.00 pm  |  Source:

  • Execution concerns persist for construction sector: ICRA  

    ICRA has come out with its report on Indian construction sector. According to the research firm, opportunities for construction companies are expected from projects to be undertaken in the opportunities in railways, urban infrastr...

    22 Oct 2012, 6.22 pm  |  Source:

  • State government finances report: ICRA  

    ICRA has come out with its release on state government finances. Several challenges confront state governments as they attempt to conform to fiscal targets set by the Thirteenth Finance Commission for 2012-13, says ICRA.

    18 Oct 2012, 2.52 pm  |  Source:

  • Expect 25-50 bps rate cut in remainder of FY13: ICRA  

    IIP: Notwithstanding the improvement relative to July 2012, Indian industrial growth remained weak at 2.7% in August 2012.

    12 Oct 2012, 5.48 pm  |  Source:

  • Aluminium demand to grow by 6% in 2012-14: IMaCS  

    With the expectation of moderation in growth in India’s industrial production and real gross domestic product (GDP), demand for aluminium is likely to increase at an annual average growth rate of 6% during 2012-2014, says ICRA M...

    12 Oct 2012, 1.31 pm  |  Source:

  • Near term margin outlook for steelmakers remain weak: ICRA  

    ICRA has come out with its update note on Indian steel industry. According to the researnch firm, the long term demand outlook for the domestic steel industry is positive, favourable policy initiatives to kick-start investments an...

    11 Oct 2012, 6.12 pm  |  Source:

  • How new pricing policy will impact pharma cos: ICRA  

    After the Supreme Court’s intervention into the finalization of the new drug pricing policy following a prolonged delay, the Group of Ministers (GoM) have recently concluded the policy and are expected to submit the proposal to ...

    08 Oct 2012, 12.31 pm  |  Source:

  • Power: Challenges still remain despite positive steps taken  

    ICRA has come out with its report on power sector. The rating agency expects that, aggregate capacity of 54,000 MW is likely to be added by private sector in XII Plan period (2012-17), of which about 80% of the capacity is schedul...

    04 Oct 2012, 2.51 pm  |  Source:

  • Telecom industry at inflection point: ICRA  

    Telecom industry at inflection point; ICRA expects future growth to be driven by data; spectrum auction a key watch event; high spectrum pricing to weigh on telcos’ stretched financial profile

    29 Sep 2012, 11.00 am  |  Source:

  • Sugar: Outlook improves on boost in exports, supply deficit  

    ICRA Research has come out with its report on sugar sector. According to the research firm, medium to long-term outlook is considered, as in the past, the long-term prices and profitability of Indian sugar companies would remain h...

    28 Sep 2012, 1.25 pm  |  Source:

  • Ship breaking sector: ICRA's trends & credit implications  

    The global shipping downturn and weak macro-economic headwinds since 2009 have facilitated the growth of the ship breaking industry with there being an increase in the supply of ships to be scrapped.

    26 Sep 2012, 4.40 pm  |  Source:

  • Discom bailout: Good step, but more needed: ICRA  

    ICRA Research has come out with its report on Financial Restructuring. ICRA expects States such as AP, Haryana, Punjab, Rajasthan, TN and UP (in case these States were to accept the scheme) to meet the targets for debt/GSDP for 20...

    25 Sep 2012, 6.31 pm  |  Source:

  • ICRA sees tough times for cement space   

    ICRA Research has come out with its report on cement sector. Cement despatches have shown signs of weakening after reporting healthy growth in Q1 FY13.

    25 Sep 2012, 6.22 pm  |  Source:

  • ICRA expects 25-50 bps cut in repo rate by March 2013  

    ICRA Research has come out with its report on monetary policy for 2012-13- September 2012. The research firm expects further cuts in the Repo Rate to be limited to 25-50 bps in the remainder of the financial year.

    18 Sep 2012, 12.23 pm  |  Source:

  • ICRA expects mute growth in consumer goods segment  

    ICRA has come out with its report on "IIP rises by a marginal 0.1% as monsoon-related concerns impact consumer goods while investment remains sluggish". The research firm, expects that rural consumer sentiments remained weak, resu...

    13 Sep 2012, 3.28 pm  |  Source:

  • ICRA sees downtrend in IIP numbers to continue  

    IIP: Largely in line with our expectations (0.3%), industrial production displayed a marginal 0.1% rise in July 2012 reflecting the impact of a deficient monsoon on domestic consumer demand, a substantial decline in exports and co...

    12 Sep 2012, 1.05 pm  |  Source:

  • Expect consumption growth to remain moderate in FY13: ICRA  

    ICRA Research Services has come out with its report on FYQ1 GDP numbers. According to the research firm, the negative impact of the sub-par monsoon coverage would be offset to some extent by income support programmes of the Govern...

    03 Sep 2012, 3.31 pm  |  Source:

  • ICRA maintains fundamental grading of '3' to Zylog Systems  

    ICRA Equity Research Service has come out with its report on Zylog Systems Limited (ZSL). The research firm has maintained company's fundamental grading of '3' and valuation grading of 'B', indicating good fundamentals and moderat...

    30 Aug 2012, 6.04 pm  |  Source:

  • ICRA revises rating for NCDs, bank lines of PTC India  

    ICRA has revised the rating from [ICRA]A+ to [ICRA]A assigned to Rs 700 crore Non-convertible Debenture (NCD) programme and Rs 425 crore long term bank lines of PTC India Financial Services Limited (PFS). The outlook on the long-t...

    28 Aug 2012, 6.41 pm  |  Source:

  • ICRA revises FY13 GDP growth forecast to 5.7%  

    ICRA has come out with its outlook on Indian economy. The research firm, has revised its FY13 GDP growth forecast to 5.7% from the previous expectation of 6.2-6.4%. India's current account deficit expected to remain substantial in...

    24 Aug 2012, 5.35 pm  |  Source:

  • Challenging times ahead for oil marketing companies: ICRA  

    ICRA Research Service has come out with its report on "Indian oil & gas sector- refining & marketing". According to the research firm, the credit metrics of standalone refineries or special purpose vehicles are expected to remain ...

    24 Aug 2012, 5.00 pm  |  Source:

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