Nov 21, 2022 05:23 PM IST

Crisil lowers FY23 growth by 30 bps to 7%; Icra slashes Q2 GDP to half of last fiscal at 6.5%

Crisil downgraded the India growth forecast by 30 bps to 7 per cent while Icra pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23.

States debt cost falls 12 bps on receding appetite

Cumulatively, 26 states raised Rs 3.8 lakh crore so far this fiscal, which is just about 5 per cent lower than the year-ago level when it stood at Rs 4 lakh crore.

Auto component suppliers to log an 8-10% growth in revenue this fiscal: ICRA

For the first half of the current fiscal, the industry reported a year-on-year growth of 29 per cent, ICRA said on Monday, based on projections from 49 auto ancillaries with aggregate annual revenues of close to Rs 3,00,000 crore.

ICRA Consolidated September 2022 Net Sales at Rs 98.60 crore, up 19.25% Y-o-Y

ICRA Consolidated September 2022 Net Sales at Rs 98.60 crore, up 19.25% Y-o-Y

ICRA Standalone September 2022 Net Sales at Rs 53.36 crore, up 12.16% Y-o-Y

ICRA net income up 52.5% to Rs 37 crore in September quarter

The Moody's domestic associate said its consolidated revenue rose by 19.2 per cent to Rs 98.6 crore from Rs 82.7 crore in the year-ago period.

13 major states have fiscal space for Rs 7.4 lakh crore capital spending in FY23: Icra

The 13 states, having nearly 85 per cent share in India's GDP in 2020-21, had made a capital expenditure of Rs 4.1 lakh crore last fiscal. Their Budget estimate for capex spending this fiscal is Rs 5.8 lakh crore, the rating agency added.

One’s loss, another’s gain: ICRA, Care Ratings rise after SEBI’s action on Brickwork

Analysts believe with Brickwork Ratings out of the picture, other credit rating agencies stand to gain more business, albeit marginally

Increase in tea prices to offset impact of wage rate hike in Assam, West Bengal: ICRA

The increase in wage rates in the current calendar year in North India (NI), Assam and West Bengal, in the current financial year is expected to be nullified by healthy realisations of teas, particularly producers who are focused on producing quality teas, Icra said in a report.

Carmakers rev up production as chip shortage subsides

Even as demand shoots through the roof, manufacturers feel full production capacity utilisation is unlikely as they are not confident of the chip supply situation in the future. Long wait times may be around for a little longer.

Canara Bank to issue perpetual bonds, say traders

The state-run bank has invited coupon and commitment bids from bankers and investors on Wednesday, they said.

Tata Capital Housing Finance accepts bids for 10-year bonds, say traders

The housing finance company will pay an annual coupon of 7.85% on this issue, and had invited commitment bids from bankers and investors earlier in the day, they said.

Domestic air traffic likely to grow 52-54% compared to last year: ICRA

Despite the recovery in passenger traffic, the rating agency expects the industry to report a loss between Rs 150-170 billion in 2022-23 due to high ATF prices and a depreciating rupee.

Investments in EV cell manufacturing to reach Rs 70,000 crore by 2030: ICRA

The ability of battery manufacturers to enter into agreements/alliances with players across the value chain to mitigate these risks, coupled with the creation of a robust framework for recycling would remain key.

Steel prices in India to remain under pressure over near future: Icra

The rating agency also expects the steel demand in the domestic market to grow at 7-8 per cent in the current financial year, making the country the fastest-growing large steel markets globally this year.

India Inc Q1 revenue shoots up 39% but margins shrink 213 bps as input costs weigh

While companies passed on higher input costs in the form of commodity and energy cost, leading to revenue growth, the same led to margin compression, rating agency Icra said in a note based on the analysis of 620 listed companies, excluding financial sector entities.

ICRA board approves appointment of Venkatesh Viswanathan as group CFO

Viswanathan replaces Amit Kumar Gupta as ICRA's CFO, whose term ends tomorrow

States’ borrowing cost continues to fall; eases 4 bps to 7.67%

The yield on the benchmark 10-year G-secs also declined in the week by 4 bps to 7.23 per cent from 7.27 per cent last Tuesday

AT1 bond issuances is likely to fall over 50% in FY23 to Rs 20,000 cr: ICRA

AT1 bonds are a type of perpetual debt instrument that banks use to augment their core equity base and thus comply with Basel III norms.

ICRA Consolidated June 2022 Net Sales at Rs 92.52 crore, up 15.84% Y-o-Y

ICRA Standalone June 2022 Net Sales at Rs 49.28 crore, up 6.97% Y-o-Y

Indian pharma firms likely to see muted revenue growth from US generics market in FY23: Icra

The US has always been a key market for Indian pharmaceutical companies but over the past few years, the revenues from there have grown at a relatively modest pace due to consistent pricing pressure, lack of major generic product launches and increased regulatory scrutiny.

India's economic recovery falters as high prices start to bite

The Reserve Bank of India raised rates by 90 basis points in two moves to temper price gains and is scheduled to hold its next review from August 2-4.

Bharatmala project may face delays of around six years, says ICRA

According to ICRA, if the Indian government manages to execute around 4,500-5,000 km of projects under the Bharatmala scheme, all projects will be completed by 2027-28.