ICRA

The POC stressed that excluding precious metals, underlying inflation pressures were muted and that barring volatility on account of gold and silver, core inflation was expected to remain range-bound

Aditi Nayar analyses the Budget's fiscal prudence, higher public capex via states, a 4.3 per cent deficit target, debt consolidation, and the impact of higher gross borrowings on bond yields

ICRA sees 5% growth in rail budget

Jindal Steel plans to double its structural steel manufacturing capacity to 2.4 MTPA by mid-2028, aimed at addressing the growing demand for heavy and ultra-heavy structural steel sections.

ICRA expects hospitals' revenue growth of 16-18% in FY26 on healthy occupancy and higher ARPOB, while projecting a stable pharma outlook led by domestic growth

ICRA said steelmakers' margins remain under pressure as oversupply drives domestic prices to steep discounts to import parity, and warned of a negative outlook if headwinds persist

Indus Towers outlook: Analysts believe that healthy collections against the monthly payments has improved the liquidity position of the company and moderated the reliance on external debt.

The top cities are Bengaluru, Chennai, Delhi National Capital Region (NCR), Hyderabad, Mumbai Metropolitan Region (MMR), and Pune

ICRA expects India Inc. to post 8-10% year-on-year revenue growth in Q3 FY26, supported by festive and rural demand, GST rationalisation and easing costs

Bifacial modules can absorb sunlight via both front and rear surfaces, while modules made with TOPCon cells have improved electron flow and lead to lower losses

Rating agency ICRA on Tuesday projected GDP growth to moderate in July-September period of FY26 to 7 per cent, from 7.8 per cent in the previous quarter, amid lower government spending. ICRA said while the services and agriculture sectors would lose some momentum in the second quarter, industrial performance would be strong propelled by manufacturing, construction and favourable base effects. This is expected to underpin the quarter's economic activity. The rating agency in a statement said it expects GDP growth to ease to 7 per cent year-on-year in Q2 (July-September) from 7.8 per cent in Q1 (April-June) FY2025-26. Indian economy had expanded 5.6 per cent in the Q2 (July-September) of 2024-25 fiscal. The National Statistics Office (NSO) is slated to release the official data on FY26 Q2 GDP growth estimates on November 28. ICRA chief economist Aditi Nayar said a lower YoY rise in government spending is likely to weigh on the pace of the GDP and GVA growth in Q2 FY2026 compared to

ICRA expects bank credit growth at 10.7-11.5% in FY26, aided by higher retail and MSME demand following GST rationalisation. Corporate lending remains muted, with ECL impact pegged below 1.5%

ICRA estimates that around Rs. 2.5 trillion capex will be incurred by March 2026, which is 60-65 per cent of the total estimated capex

Rating agency ICRA has estimated that the number of Global Capability Centers (GCCs) in India will increase to more than 2,500 in the next five years, creating huge demand for office space. In 2024-25 fiscal, GCCs leased a record 24 million sq ft of Grade A office space across the top six cities, with their share in total leasing rebounding to 37 per cent from a low of 27 per cent in FY23, the rating agency said in a statement. ICRA projected that GCCs would take on lease 50-55 million square feet of Grade A office space during FY26 and FY27, potentially contributing 38-40 per cent to the total office space demand in the top six markets- Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai Metropolitan Region (MMR) and Pune. ICRA expects "the number of GCCs to rise from about 1,700 currently to more than 2,500 by 2030, generating over USD 100 billion in revenue and scaling workforce capacity by 1.5-2 times." Anupama Reddy, Vice President and Co-Group Head, Corporate Ratings, ICRA, said

Motilal Oswal share price climbed 3.63 per cent to hit an intra-day high of ₹1,002.40 per share on the BSE after the company announced an update on a credit rating upgrade

NBFCs led issuances while bank-originated deals slowed; ICRA and Crisil see steady demand from microfinance and corporate transactions in Q2 FY26

Road construction in the country is estimated to drop to a five-year low of 25-26 km per day in FY2025-26, domestic rating agency Icra said on Tuesday. Icra attributed the decline to lower execution due to extended monsoon periods and a decline in project awarding over the past two years. The rating agency said India will achieve an execution of over 9,000 km of roads in FY26 or 25-26 km per day, which represents a "significant slowdown". This represents a downward revision from an earlier forecast of 9,500-10,000 km of execution in FY26, Icra said in a statement. The slowdown in FY26 will be on top of a 14 per cent decline in the previous fiscal, the rating agency said, pointing out that 10,660 km of road building was achieved in FY25 and 12,349 km in FY24. Project awarding by the Ministry of Road Transport and Highways in FY25 is estimated to be flat year-on-year at 8,000-8,500 km, which is significantly lower than the awards seen between FY21 and FY23, it said. In FY26, the pr

India added 20.1 GW renewable capacity in April-August FY26, a 123 per cent rise from last year, with ICRA projecting over 35 GW additions this fiscal supported by strong demand

The ratings agency revised its full-year projection to 5-7 per cent year-on-year from its earlier estimate of 7-9 per cent

Icra lowered FY26 domestic air growth forecast to 4-6 per cent from 7-10 per cent, citing global tensions, accident-related hesitancy, and weak demand, as August passenger traffic stagnated