ICRA

Aggregate revenues of a sample set of 838 listed companies grew 22 per cent in the June quarter, higher than 13 per cent YoY growth recorded in the March quarter, reflecting earnings resilience of India Inc offsetting weakness in the oil sector. However, aggregate Operating Profit Margin (OPM) contracted by over 200 basis points (bps) YoY in the first quarter of 2026-27 and net profits were flattish mainly because of the oil-refining sector, where elevated crude prices and under-recoveries on LPG and petroleum products weighed on profitability. Excluding oil & gas, OPM was stable at 19 per cent and net profits grew by over 20 per cent YoY, ICRA said. "ICRA's review of the results announced so far suggests that India Inc. began 2026-27 on a firmer footing than anticipated, with aggregate revenues of ICRA's sample set of 838 listed companies growing by 22 per cent YoY in Q1, accelerating from the 13 per cent YoY growth reported in the preceding quarter," the domestic rating agency ..

Electric buses offer lower ownership costs than diesel and CNG models, while government schemes and payment-security reforms are expected to accelerate adoption

Outstanding green borrowings rose nearly sevenfold to ₹8,400 crore by March 2026, while Icra expects their share in total Reit debt to reach 15-17 per cent

We broadly concur with the MPC's growth forecasts for FY2027, notwithstanding some differences in the quarterly projections, Nayar said.

Rating agency ICRA Ltd on Thursday reported 32 per cent growth in consolidated net profit at Rs 56.5 crore for the first quarter ended June 30, 2026. The company had logged a net profit of Rs 42.8 crore a year ago. Revenue from operations increased by 31.2 per cent year-on-year to Rs 163.4 crore in the quarter, ICRA said in a regulatory filing. MD & Group CEO Ramnath Krishnan said ICRA's quarterly performance was supported by healthy growth in ratings and sustained momentum in risk & analytics. "Our ratings business remained anchored in high-quality analytical delivery and market engagement, while risk and analytics benefited from robust demand across data, risk and technology-led solutions," Krishnan said. ICRA's ratings revenue was supported by strong 18.3 per cent year-on-year growth in bank credit as of June quarter FY2027, with demand led mainly by the industries and NBFC segments. Risk & Analytics continued to demonstrate healthy momentum during the quarter, driven ..

Organised gold loans by banks and NBFCs are expected to cross Rs 30 trillion by March 2028, while lenders adjust to revised RBI repayment and LTV norms

About one-third of outstanding state government securities will mature over the next five years, keeping refinancing needs and bond issuances elevated, ICRA said

Penetration of alternate fuels, including CNG/LNG and electric vehicles, in the Indian commercial vehicle industry is expected to touch 40-45 per cent by FY2030, rating agency ICRA said on Monday. In FY2026, the penetration of alternate fuels in the Indian CV industry was at 27 per cent, ICRA said in a statement. The CNG/LNG penetration in the CV industry is expected to increase to 30-35 per cent by 2029-30, while the same for electric vehicles is projected to rise to 10-15 per cent, it added. The rise in EV penetration in the commercial vehicles (CV) industry is led primarily by the bus segment within the M&HCV (medium and heavy commercial vehicle) category, ICRA said. CNG/LNG penetration in CVs has increased steadily to 25 per cent in 2025-26 from 7 per cent in 2020-21, emerging as a viable alternative to conventional petroleum fuels, it noted. On the other hand, the share of diesel as a fuel for the CV industry in India has gradually declined to 67 per cent in 2025-26 from 86 .

In the recently concluded June 2026 quarter, domestic mutual funds reduced their stake in MTAR Technologies to 20.36 per cent from 23.49 per cent at the end of March 2026 quarter.

India's securitisation market grew about 20 per cent in the first quarter of FY27, with NBFCs driving issuances as gold loans emerged as the largest asset class, ICRA said

India's power transmission sector is projected to attract Rs 6 trillion in investments through 2032 as grid infrastructure is expanded to integrate rising renewable energy capacity.

The average trading volumes on Vedanta Oil & Gas counter more than doubled with a combined 361 million equity shares changing hands on the NSE and BSE.

Rating agency Icra on Monday said it will acquire the remaining 40 per cent stake in D2K Technologies for Rs 32 crore. Pursuant to this, Icra Analytics will hold 100 per cent of the equity share capital of D2K Technologies on a fully diluted basis, Icra said in a regulatory filing. Icra Analytics is a wholly-owned subsidiary of Icra Ltd and provides services, solutions, analytics and digital platforms for risk management, mutual funds, fixed income, and knowledge services. Currently, Icra Analytics holds 60 per cent stake in the company, which is engaged in the business of providing banking and software services to banks, other financial institutions, and corporates, among others. Upon completion of the proposed acquisition, D2K Technologies will become a wholly-owned step-down subsidiary of Icra, it said. The acquisition is contingent upon the successful execution of the transaction by the depositories, it added.

Commercial vehicle wholesales rose 13.5 per cent in May, supported by GST cuts and a favourable base, but ICRA expects growth to moderate to 4-6 per cent in FY27

ICRA has raised its FY27 airline loss estimate to Rs 36,000-38,000 crore and cut traffic growth forecasts, citing higher ATF prices, a weaker rupee and lease costs

Draft framework would allow lenders to align deposit rates with liquidity costs under LCR norms, improving pricing efficiency and balance-sheet management

The capex execution, along with an expected industry tariff rationalisation over the next 12-24 months and improving network quality, are expected to support ARPU improvement and growth, believes ICRA

The upswing in the yield curve largely reflects worsening expectations around fiscal and inflation outcomes, an unfortunate fallout of the West Asia crisis for India's macros.

Credit rating agency says domestic two-wheeler wholesale volumes may grow 3-5% in FY27, while exports and electric vehicle demand continue to support the industry

We estimate the direct impact of this hike at around 8bps uptick each in the CPI inflation prints for May 2026 and June 2026, along with a mild indirect impact to the tune of around 10 bps, Nayar said