Page 7 - Care Ratings

High Kharif output, MSP hikes to give farmers extra Rs 50k cr: CARE Ratings

Kharif crops account for nearly 9 per cent of the total gross value added and contribute nearly 60 per cent of value addition of the agriculture and allied activities sector

IL&FS case: Sebi raises penalty to Rs 1 crore each on ICRA, CARE

Markets regulator Sebi on Tuesday enhanced the penalty amount to Rs 1 crore each on rating agencies ICRA and CARE in connection with lapses on their parts while assigning credit rating to non-convertible debentures of IL&FS. The crisis at diversified IL&FS, whose board was superseded by the government, came to light in September 2018 and since then, the company as well as related entities have come under the regulatory lens. The regulator, in December 2019, had imposed a fine of Rs 25 lakh each ICRA and CARE Ratings in the matter saying the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of these rating agencies. While the regulator came down heavily on the rating agencies with sharp observations but it was felt that the same was not reflected in penalty, several experts said. Sebi examined the order passed by Adjudicating Officer (AO) and observed that the penalty levied by AO appeared to be erroneous and not commensurate

Business activity may not touch pre-Covid-19 levels before March: Survey

Companies in the construction, real estate, manufacturing and power sectors said they are facing problems because of the return of migrant labourers back to their villages

Covid-19 impact: Moody's, CARE Ratings cut India's FY21 GDP estimates

The global rating agency had earlier predicted GDP to contract 4 per cent. On Friday, it predicated 11.5 per cent contraction

June results show op profit margins high even as profits sank: CARE Ratings

The numbers looked at the aggregate performance of 1,435 companies excluding those from the banking and finance sectors

Sebi slaps Rs 1 cr fine on CARE Ratings over lapses in RCom case

In May 2017, CARE Ratings downgraded the ratings assigned to non-convertible debentures (NCDs) issued by RCom to default

Top headlines: Next fiscal policy, peak gold prices, CARE ratings and more

Here are the top headlines of the day

CARE puts rating for Rana Kapoor family owned firm in default grade

MCPL is a holding company having investments in various non-financial businesses

NPAs may move up by 5% due to moratorium: CARE Ratings' Ajay Mahajan

Ajay Mahajan, managing director and chief executive officer, spoke to Raghu Mohan on how he views the business and the regulatory topography ahead

Life insurance industry to recover in next quarter, says CARE Ratings

CARE Ratings, in a note, said growth could potentially return in Q2 or Q3 and distribution channels could see significant realignment, with digital sales rising at the cost of individual agents

Many MSMEs are approaching banks for collateral-free loans: Survey

The rating agency said the survey was conducted over 2 weeks - between June 23 July 7 - and saw the participation of 345 respondents from a cross-section of sectors

Inevitability of defaults: Promoters gripe over loans being sold to ARCs

'Once the moratorium is lifted, we expect several companies to default. The bank will have no other option but to either restructure the loan or sell it to ARCs,' says a banker

Market Ahead, July 3: All you need to know before the opening bell

On the results front, a total of 18 companies including Indiabulls Housing Finance are scheduled to announce their results today

Birla Sun Life Mutual Fund schemes see uptick post IL&FS SPV upgrade

Care Ratings upgraded debt papers of the firm to 'C'

India's GDP likely to contract by 6.4% in FY21, says Care Ratings

The rating agency, in May, had projected a decline in GDP growth of 1.5-1.6 per cent in FY21.

Q4FY20 GDP growth expectation: How bad will Covid-19 impact the economy?

The common thread that runs through these estimates is the fact that the economy is headed towards a recessionary phase

ICRA, CARE downgrade Yes Bank's rating on upper tier-2 bonds to D

While the bank has adequate liquidity for coupon payment as per Basel guidelines coupon is not payable if the CRAR is below the regulatory requirement

Bank deposits grow at 11.3% but credit growth moderates, shows data

Banks have also lowered their lending rates following the cut in the benchmark rates by the Reserve Bank of India (RBI).

RCap debt servicing to be delayed due to rating downgrade by CARE in 2019

CARE had downgraded RCap's long-term debt programme, market-linked debentures and subordinated debt due to delay in payment of interest

Covid-19 impact: Health expenditure in April trebles to Rs 13,000 crore

If this rate of rise continues, allocation will be exhausted in just five months