icra

Budget 2019: Rural economy likely in focus in vote on account

The Union Budget for FY2019 had indicated a fiscal deficit target of 3.1% of the GDP for FY2020. However, considering the possible spill overs of subsidy from FY2019 to FY2020 and the upfronting of dividends through interim pay-outs in FY2019, we expect the fiscal deficit to be higher, at around 3.3% of the GDP.

ICRA maintains negative outlook for residential real estate, stable outlook for commercial realty

Elections in 2019 may keep fresh project launches in check considering the uncertainties developers may face relating to timeliness of regulatory approvals for projects

ICRA Standalone December 2018 Net Sales at Rs 59.21 crore, up 3.87% Y-o-Y

ICRA Consolidated December 2018 Net Sales at Rs 84.67 crore, up 2.17% Y-o-Y

Icra expects domestic auto parts industry to grow 15% this fiscal

The growth is expected to come from healthy volume growth in two-wheelers, commercial vehicles and tractor segment until November last year.

Budget 2019: Focus on alleviating rural distress to benefit fertiliser sector

ICRA expects the GoI to take several steps for enhancing farmer income like ensuring crop realisation, focus on improving crop insurance scheme (Pradhan Mantri Fasal Bima Yojna, PMFBY) and allocation for development of agricultural markets.

Budget 2019: Construction sector to benefit from continued rise in capital outlay towards infra

ICRA expects the interim budget to increase capital outlay towards infrastructure sector by 12-18 percent with a major part of it going towards roads and railways

Impact of RERA to be felt only after new launches are developed under the Act: ICRA

South and East India are lagging in terms of implementation and infrastructure, with registrations yet to commence in Kerala

Toll collections may witness double-digit growth in FY'20: ICRA

"Driven by strong growth in medium and heavy commercial vehicles (M&HCV), along with an increase in WPI, toll collections are likely to witness a significant growth in 2019-20," ICRA said in a statement.

Crisis to crimp operating profits of NBFCs by up to 0.5%: ICRA

The decline in profitability will be primarily due to increase in the cost of funds, slowdown in portfolio growth and cost of carrying additional liquidity due to the troubles, ratings agency ICRA said.

'Construction sector stable due to more orders, infra pipeline'

Icra also noted that order inflows from non- infrastructure segments like industrial and real estate is expected to remain muted, with weak private sector capex growth.

Two-wheeler sales likely to grow at 8-10% in FY19; industry outlook stable: ICRA

The sector has reported 11.1 percent year-on-year volume growth in April-October 2019.

Expect tractor demand for FY19 at 10-12%; to moderate to 4-5% in FY20: Icra

"For the full fiscal, FY2019, the sector is expected to grow at 10-12 percent," the ratings agency said, adding it has maintained a stable outlook for the sector for the year.

CERC's draft tariff rules positive for Gencos,Transcos: ICRA

The CERC in its order on December 14, notified the draft regulations for cost-plus-based tariff determination for the next control period commencing in April 2019 up to March 2024.

India to add 10,000MW renewable energy capacity in FY20: Report

The share of renewable energy in the generation mix has increased from 5.6 percent in FY2015 to 7.8 percent in FY2018.

Outlook for port sector stable, rebound in coal volumes positive for players: ICRA

"ICRA has given a stable outlook for the port sector, in its year-end assessment. The prospects for the Indian port sector players in the medium term are expected to be favourable, supported by continuing healthy growth in cargo of major volume drivers - Coal, Crude and Containers," the rating agency said in a statement.

Domestic flat steel prices likely to face temporary pressures from cheap imports: Icra

The rating agency also said that expectations of lenient production curbs in China during winter months and rising steel output amid a seasonal moderation in demand have led to a steep correction in Chinese steel prices in November.

CAD may widen to 3% in September quarter on higher crude prices, gold imports: ICRA

ICRA expects the current account deficit to widen sharply to USD 19-21 billion or 3 percent of GDP in Q2 (July-September) FY2019, from the modest USD 7 billion in Q2 FY2018, led by higher crude oil prices and gold imports, the credit rating agency said in a statement.

ICRA cuts growth forecast for domestic PV sales to 7-8%

ICRA, which had earlier projected a growth of 8-9 percent, however, maintained stable outlook on domestic passenger vehicles (PVs) industry for the year.

 Demand for completed realty projects by established developers improves: ICRA

Developers with a proven track of deliveries at the brink of recovery but uncertainties pertaining to elections, rising interest rates, funding challenges and sluggishness in overall economy persist

GDP growth may ease to 7.2% in Jul-Sep on sluggish economy: ICRA

Official data on quarterly growth will be released at the end of this month.

Icra downgrades IDFC Bank

Downgrading the bank, the agency said profitability of the bank will remain weak in the medium- to near- term even after the planned merger with Capital First and added that high cost wholesale liabilities are also a concern.

Delays beyond 270 days at NCLT cost banks Rs 4,000 cr in foregone interest: Report

After the bankruptcy laws were passed in May 2016, the number of pending corporate insolvency case under the IBC rose to 816 as of the September quarter, from 723 in the June quarter, according to the Icra report.

SEBI may ask rating agencies to separate rating, non-rating businesses: Report

SEBI is also planning to bring a framework on compensation for rating agencies to ensure that there is a disincentive for them to assign aggressive ratings

Pharma sector to post moderate growth at 7-9% in FY18-21: Report

The concerns in the domestic market pertain to price control and mandatory genericisation, rating agency Icra said in its report, which sampled 21 firms in the industry.