ICRA

Gold loan securitisation and a recovery in vehicle loan transactions drove a 42 per cent rise in volumes, with ICRA projecting a record Rs 2.6-2.7 trillion for FY27

ICRA expects the impact of proposed commission caps and expense limits to become more visible in FY28, with health and life insurers and smaller players facing greater pressure

Our base case pencils in the headline CPI inflation to average at 5 per cent in FY27, with risks tilted to the upside.

ICRA retains its FY27 gross state borrowing estimate at ₹13.4-14 trillion, assuming states broadly adhere to the RBI's indicative auction calendar for the third quarter

Credit ratios improved across rating agencies as lower leverage and healthy liquidity supported firms, though crude prices, inflation and US tariff uncertainty pose risks

India Inc's credit ratio rose to 3.2 times in H1 FY27, while strong balance sheets and liquidity buffers are expected to cushion companies from crude, inflation and tariff risks

Industry volumes are expected to reach 1.5 lakh units in FY27, but higher steel, logistics and imported component costs could reduce operating margins

Icra expects InvITs' AUM to rise to ₹13.5 trillion and Reits' AUM to ₹6.5 trillion by FY31, supported by infrastructure monetisation and new asset classes

Global supply disruptions and low inventories have triggered a rise in prices by 30-40 per cent across April-Aug 26

Balance of payments recorded a deficit of $8.1 billion in Q1FY27 as portfolio outflows weighed, compared with a surplus of $4.5 billion in the year-ago quarter

Sales value across the top seven cities is expected to reach ₹7.9 trillion in FY27 even as area sold grows only 2-5 per cent, as buyers shift towards premium homes

Mining, electricity, e-way bills and domestic air traffic weighed on growth in July, while cement and coal output strengthened and unemployment declined

Renewable energy bidding slowed amid delays in signing power agreements and transmission constraints, while ICRA expects capacity addition to moderate to 45 GW in FY27

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