Page 6 - Crisil

Crisil Ratings upgrades outlook on Thomas Cook India to 'positive'

Crisil Ratings on Thursday revised its outlook on the long-term bank facilities and corporate credit rating (CCR) of Thomas Cook India (TCIL) to 'positive' from 'stable'. The rating agency has also reaffirmed the ratings at 'CRISIL AA-/Positive CRISIL A1+', Crisil Ratings said in its report. The revision in outlook follows the rating upgrade on the loan facilities of the parent Fairfax Financial Holdings (Fairfax) by S&P Global Ratings to 'BBB+/Positive' from 'BBB/Watch positive'. The rating upgrade by S&P Global Ratings was due to material strengthening in Fairfax's capital adequacy at 2023-end, boosted by strong earnings and diversification credit under its revised criteria, it added. Besides, the rating action also factored in improvement in the Thomas Cook India group's overall operating performance, driven by strong growth in revenue, which is expected to be sustained over the medium term, and structural reduction in cost, leading to better operating margin and return on .

Crisil upgrades its outlook on Inox Wind's bank facilities to stable

Inox Wind Ltd on Wednesday said Crisil has upgraded its outlook on the company's long-term and short-term bank facilities. Crisil has upgraded rating for long-term bank facilities to 'Crisil A/Stable' from 'Crisil A-/Stable', while on company's short-term bank facilities, the agency has upgraded ratings to Crisil A1 from Crisil A2+, Inox Wind said in an exchange filing. Kailash Tarachandani, CEO of Inox Wind, said: "The latest ratings upgrade by Crisil is an outcome of all the efforts undertaken by the company in the recent past. We have successfully raised funds to strengthen our balance sheet and also ramped up our operations." Inox Wind has an order book of 2.7 GW of wind power projects.

Fund Pick: HDFC Flexi Cap Fund has a rich history of outperformance

The fund's month-end assets under management (AUM) increased to Rs 50,840 crore in March 2024 from Rs 23,128 crore in March 2021

High property prices to boost debt recovery from realty projects: Report

Recovery of debt from stressed residential realty projects is set to increase in the current financial year due to higher property prices as well as changes in rules, a report said on Monday. The bad loan recovery rate is estimated to touch 16-18 per cent at the end of FY25 from 11 per cent as on March 31, 2024, domestic rating agency Crisil said in a report. "This will be driven by improved viability of stressed projects due to healthy demand and price appreciation seen in residential real estate and greater investor and promoter interest in reviving such projects," the agency said. It added that recent amendments to the Insolvency and Bankruptcy Board of India (IBBI) regulations for real estate projects should also strengthen resolution of stressed real estate assets in the medium term. The agency said it analysed the performance of its portfolio comprising security receipts of Rs 9,000 crore from 70 stressed realty projects with a saleable area of 66 million square feet while ..

Costlier vegetables made your thali more expensive by 9% in May: CRISIL

A vegetarian thali has roti, onion, tomato, potato, rice, dal, curd, and salad. A non-vegetarian thali has the same foods but chicken (broiler) replaces dal

Bank credit growth to moderate to 14% in FY25 after robust growth: CRISIL

Higher risk weights, base effect, deposit challenge may weigh on growth

Why more Indian airlines will fly international routes by FY28

If you're a travel enthusiast, here's some exciting news: Soon, you'll spot more Indian airlines flying international routes. According to CRISIL, a credit ratings agency, Indian carriers will handle

Securitisation market booms as shadow banks diversify funding sources

Sector is expected to grow further as credit demand grows, say senior executives

CRISIL SME Tracker: Equations getting better for chemicals MSMEs

Agrochemicals margins could normalise from the second quarter due to destocking of high-cost inventories

Crisil ESG Ratings receives market regulator Sebi approval for ESG scoring

The rating provider launched its ESG scoring business in 2021 and now tracks over 1,000 companies across 65 sectors

Dynamic fund allocation: ICICI Prudential's rocket fuel for outpacing peers

The fund targets long-term capital appreciation from a portfolio predominantly invested in equity and equity-related securities of large and midcap companies

Diagnostic Companies poised for 10-11% revenue growth in FY25: CRISIL

The projected rise in revenue comes on the back of an estimated 8% growth in FY24

India Inc's credit quality remains healthy in H2FY24: Rating agencies

While commodity prices have softened, revenue of upgraded companies in the CRISIL rating pool grew by about 13 per cent in fiscal 2024 largely led by a pick-up in volume

Credit quality of Indian companies stayed healthy in H2FY24, says CRISIL

Rating upgrades surpassed downgrades in H2FY24. Outlook remains robust for H1FY25

HDB Fin Services to raise Rs 2,500 crore via debt capital for biz growth

After witnessing asset quality pressures in the aftermath of the pandemic, the finance company has improved its risk profile and health to support sustained growth in the loan book

India to become upper middle-income nation by 2031, to grow at 6.8%: CRISIL

Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to USD 7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report. It said that the next seven fiscals (2025-2031) will see the Indian economy crossing the USD 5 trillion-mark and inching closer to USD 7 trillion. "A projected average expansion of 6.7 per cent in this period will make India the third-largest economy in the world and lift per capita income to the upper-middle income category by 2031," Crisil said. India, with a GDP size of

SUV share in total PV sales may rev up to 62% by FY25, says CRISIL

PV sales to grow by 5-7 % in 2024-25: Crisil

Edelweiss Aggressive Hybrid Fund: Trailblazer in performance, asset growth

The fund aims to provide capital growth and current income through a portfolio invested predominantly in equities, with a balance in debt and money market securities

ARCs' bad loan portfolio to touch Rs 1.6 trillion by FY25, says CRISIL

The report said the growth in the future would largely be driven by higher acquisitions, though capped by quicker resolutions expected in retail assets

CRISIL SME tracker: Revenue outlook positive for security services MSMEs

In the next financial year, the revenue is expected to grow 9-11 per cent as Lok Sabha elections in April-May are expected to boost demand