May 20, 2020 07:56 PM IST Though the government has been claiming that its economic stimulus package is worth 10 percent of GDP or Rs 20.9 lakh crore, analysts have pegged it at just 0.8 - 1.2 percent of the GDP.
May 19, 2020 08:45 PM IST According to official data, India consumed 100 million tonne of steel during financial year ended March 2020.
May 14, 2020 08:32 PM IST The profitability of the industry would also be adversely impacted in the ongoing fiscal due to lower revenues and high fixed costs, which is 35-42 percent of the total cost of airlines.
May 04, 2020 06:40 PM IST After keeping the country under a 40-day lockdown to arrest the spread of coronavirus, the government extended the lockdown till May 17 with a slew of relaxations to the unaffected areas in order to kick-start economic activity.
April 29, 2020 09:15 PM IST According to the agency, electricity consumption from high tariff paying industrial and commercial consumers has significantly declined due to the lockdown.
April 29, 2020 06:40 PM IST ICRA has assigned risk levels to industries and entities.
April 24, 2020 08:00 PM IST The industry incurred large net losses due to sharp decline in demand, realisation and profitability and rumours circulated in social media, linking poultry birds as possible vectors of the virus, further leading to the demand drop and hence realisations, ratings agency ICRA said in its report.
April 23, 2020 12:03 PM IST The domestic logistics sector is likely to witness a 6-8 per cent decline in the current fiscal on account of COVID-19 outbreak, rating agency ICRA said on Wednesday.
April 17, 2020 04:10 PM IST ICRA said it has a negative outlook on the PV sector given the adverse impact and credit profile of industry participants which include suppliers as well as dealerships.
April 15, 2020 06:54 PM IST The revenue loss for NHAI operated toll plazas is estimated at Rs 821 crore, while the compensation to BOT Concessionaires under force majeure (political) event is estimated at Rs 1,001 crore, Icra said in a statement.
April 14, 2020 09:27 PM IST The office leasing segment will be relatively less affected in the near term.
April 09, 2020 07:15 PM IST The ICRA, on Thursday said that the de-growth was largely driven by higher airfares in the wake of large scale flight cancellations following shutting down of Jet Airways and overall sluggishness in demand.
April 09, 2020 06:47 PM IST However, as the coronavirus impact subsides and activities come back to normalcy, strong order flow under the National Infrastructure Pipeline, focus on infrastructure, and lower execution impediments should help in recovery, Icra added.
April 07, 2020 05:55 PM IST The Reserve Bank of India had imposed a moratorium on the private sector lender last month and announced a scheme of reconstruction for the bank. Under the scheme, the RBI said the additional tier 1 bonds would have to be written down permanently. The moratorium on the bank was lifted on March 18.
April 02, 2020 05:55 PM IST ICRA in a report said that it expects high operating leverage, discounted sales to clear inventory backlog and bad debts to result in a shrinkage of their profit margins.
April 01, 2020 03:18 PM IST In its annual credit quality review after the end of the fiscal year, ICRA said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.
March 27, 2020 06:17 PM IST ICRA said committed collections receivable from sales may get impacted as milestone based payments get deferred and homebuyers delay payments on account of economic uncertainties,
March 06, 2020 09:28 PM IST Icra said rating downgrades factor in the moratorium on the bank and the cap on payments to its depositors.
March 05, 2020 07:28 PM IST Following the coronavirus outbreak in China, the export HRC (hot rolled coil) prices have witnessed a 6 percent fall since mid-January due to a slowdown in China's steel consumption, leading to weaker economic activities, Icra said.
March 03, 2020 08:11 PM IST In the first nine months of FY20, the production at 247.4 million tonnes is marginally higher by 0.7 percent as compared with the corresponding period of the previous financial year.
February 25, 2020 05:43 PM IST Existing phases or new launches are being reconfigured or designed with a focus on lower unit prices, the ICRA report said.
February 10, 2020 11:38 AM IST SEBI has sent new show-cause notices for higher penalty with Rs 1 crores with uses of section 15 (I) last week.
February 07, 2020 05:10 PM IST The Centre by law has to pay the states at 14 per cent annually for the first five years of the GST regime and the government had earlier projected an 18 per cent growth in collections for this year, while the same has been tepid at a little over 5 per cent till January.
January 30, 2020 09:53 AM IST Supported by capital infusion and increased provisioning on stressed loans, we expect the remaining PSBs to also exit the prompt corrective action framework of the RBI and most of them to turn profitable in FY2021.
January 28, 2020 03:35 PM IST The expected growth in the next financial year is on the back of healthy demand from the domestic market given increasing spend on healthcare along with improving access, Icra said in a statement.
