Page 3 - Care Ratings
Deposits shrink Rs 59,623 cr, credit down Rs 6k cr in May 19 fortnight
CARE Ratings said the credit-to-deposit ratio has been generally trending upward since the latter part of FY22
 "Deposits shrink Rs 59,623 cr, credit down Rs 6k cr in May 19 fortnight")
Care Ratings, Equitas SFB form bullish patterns on charts; time to buy?
On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the key support for Nifty stands at 18,200.
 "Care Ratings, Equitas SFB form bullish patterns on charts; time to buy?")
Number of cases under IBC gone up by 24% in Q4FY23, says CARE Ratings
Only 10per cent% have ended in approval of resolution plans, while 31 per cent remain in the resolution process vs. 35 per cent as of the end of March 2022
 "Number of cases under IBC gone up by 24% in Q4FY23, says CARE Ratings")
Road projects under HAM face funding, execution challenges: Report
The report which was released on Thursday, highlighted the current state of the Indian Road Sector, the performance of road projects under HAM projects
 "Road projects under HAM face funding, execution challenges: Report")
After debt resolution, Essar Oil lines up Rs 1,200-crore capex
Post implementation of its resolution plan in December 2022, the company has been making debt repayments for the last two quarters ended March 2023
 "After debt resolution, Essar Oil lines up Rs 1,200-crore capex")
Sebi bars ex-Care Ratings MD & CEO Rajesh Mokashi for two years
The market watchdog has relied upon exchanges and messages on WhatsApp by the members of the rating committee lamenting the repeated interference by Mokashi
 "Sebi bars ex-Care Ratings MD & CEO Rajesh Mokashi for two years")
Sebi bans ex-CEO of Care Ratings for 2 yrs for violating securities law
India's market regulator on Thursday barred the former chief executive of Care Ratings Ltd from the securities market for two years for violation of rules
 "Sebi bans ex-CEO of Care Ratings for 2 yrs for violating securities law")
CARE upgrades outlook on Vodafone Idea to positive; reaffirms ratings
The ratings, however, remains underpinned by VIL's deteriorated financial risk profile, wherein, the tangible net-worth has eroded
 "CARE upgrades outlook on Vodafone Idea to positive; reaffirms ratings")
Indian banks to issue bonds to maintain capital levels: CARE Ratings
"To support credit-off take, banks are expected to shore up their liability franchise by raising capital (AT1 bonds, other debt instruments such as infrastructure bonds) and deposits," it said
 "Indian banks to issue bonds to maintain capital levels: CARE Ratings")
PSBs write off Rs 29,000 cr in Q3FY23 as part of a clean-up exercise
According to estimates by rating agency CARE Ratings, the write-offs by PSBs in April-December 2022, at Rs 81,000 crore, were lower than the Rs 90,000 crore in April-December 2021
 "PSBs write off Rs 29,000 cr in Q3FY23 as part of a clean-up exercise")
Municipal corporations may issue bonds worth Rs 1000 cr in next 3 months
Indore announces green bond issuance for Rs 244 cr, amount raised will be used to set up solar power plant
 "Municipal corporations may issue bonds worth Rs 1000 cr in next 3 months")
CARE Ratings surges 7%, hits 52-week high in subdued market
In past one month, the stock has outperformed the market by surging 20 per cent, as compared to 3 per cent decline in the Sensex.
 "CARE Ratings surges 7%, hits 52-week high in subdued market")
Maharashtra top performer on finances, social indicators, finds study
The rankings, released by CareEdge also painted a favorable picture of Gujarat, while India's most industrialised state of Tamil Nadu ranked third with an edge in social and governance categories
 "Maharashtra top performer on finances, social indicators, finds study")
Care Ratings upgrades Hinduja Leyland Finance's long-term debt to AA
HLF is undergoing a reverse merger, which will help it get listed soon. The company also mobilised Rs 910 crore fresh capital from QIBs in October 2022, and improved its capital adequacy
Credit offtake grows 17.5% for fortnight ended Dec 2: CARE Ratings
The growth is driven by a low base, NBFC, retail credit, higher working capital demand driven by inflation and improvement in capacity utilisation ratio, and rising demand for fresh capex
 "Credit offtake grows 17.5% for fortnight ended Dec 2: CARE Ratings")
Nov inflation down, RBI's rate hike in Feb could be modest: CARE Ratings
With core inflation continuing to be high, credit rating agencies like Acuite Ratings & Research and CARE Ratings do not expect any significant downtrend in the retail inflation for the next few months.
 "Nov inflation down, RBI's rate hike in Feb could be modest: CARE Ratings")
India's CAD likely to shoot up as net exports hit nine-year low
CAD in Q1 of 2013 was 4.9 per cent of GDP, while net exports stood at 5.93 per cent of GDP
 "India's CAD likely to shoot up as net exports hit nine-year low")
Price hikes may not stall cement companies' profit dip: CareEdge
Operating profit margins likely to contract by 320-380 basis points to 16.3-16.8 per cent in FY23, says CareEdge Ratings, as input cost pressures remain
 "Price hikes may not stall cement companies' profit dip: CareEdge")
M&M gains 2%; firm strengthens pact with Jio-bp for EV charging points
CARE Ratings reaffirmed ratings on the existing bank facilities of M&M with stable outlook.
 "M&M gains 2%; firm strengthens pact with Jio-bp for EV charging points")
Brickwork impact: Charts favour Icra; CRISIL, CARE Ratings test key levels
ICRA and CRISIL have gained up to 22 per cent so far this year, while Care Ratings has been a underperformer, down 14 per cent.
 "Brickwork impact: Charts favour Icra; CRISIL, CARE Ratings test key levels")