Page 7 - Crisil

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

FPI selling, liquidity deficit tightening financial conditions: CRISIL

Financial conditions have tightened the economy with liquidity going into a deeper deficit putting upward pressure on short-term rates, according to a research report by CRISIL Market Intelligence and Analytics. The report released during the month also said that foreign portfolio investors turned net sellers further aggravating the tight liquidity conditions. With tightening of the liquidity, the transmission of interest rates improved across lending and deposit rates in January. However, the cumulative rise in most deposit and lending rates remained lower than the 250 basis points of repo rate increase by the RBI since May 2022, the report said. This incomplete transmission of monetary policy prompted the Reserve Bank of India to keep the interest rates unchanged, the research body said in the report. "We believe that the central bank will be active in liquidity management and adopt regulatory measures to prevent excesses in credit growth. We foresee the RBI cutting rates from Ju

CRISIL Q4 results: Profit jumps 33% to Rs 210 cr on back of currency gains

Domestic rating agency Crisil, majority owned by S&P Global, on Friday reported a 33 per cent jump in net profit at Rs 210 crore for the December 2023 quarter. The city-headquartered company said its income from operations rose 11.6 per cent in the reporting quarter to Rs 917.7 crore, while total consolidated income grew 13.4 per cent to Rs 953.6 crore from Rs 840.6 crore in the corresponding quarter of the previous year. The company also announced a final dividend of Rs 28/share, taking the total dividend for the year to Rs 54/share against Rs 48 in the previous year. The company, in a statement, said the bottom line was boosted by a one-off gain of Rs 29.4 crore due to the sharp devaluation of the Argentinian currency peso in December. For the full year ending December 2023, its consolidated income from operations rose 13.4 per cent to Rs 3,139.5 crore from Rs 2,768.7 crore in the previous year, and consolidated total income gained 11.6 per cent to Rs 3,246.4 crore from Rs ...

Vegetarian thali costlier in last one year, non-veg thali cheaper: CRISIL

The rise in the cost of a veg thali signals that the food inflation inched up in January as compared to January 2023

CRISIL upgrades rating on Adani Power's bank loan facilities to 'AA-'

Crisil Ratings has upgraded its ratings on Adani Power's Rs 38,000 crore of bank loan facilities to 'AA-', saying the business and financial risk profile of the company has seen "strong improvement". The loan facilities were rated 'A' with a stable outlook earlier. "The rating upgrade follows the strong improvement in the business and financial risk profiles of APL," Crisil Ratings said in a report. The upgradation is driven by better-than-expected operating performance backed by timely commissioning and ramp-up of the Godda power plant (1.6 GW), Mahan power plant (1.2 GW), full recovery of pending regulatory dues related to claims for fuel costs as pass-through under change in law clauses of existing power purchase agreements (PPAs) and continued improvement in receivables, it said. "The rating also factors in the completion of most of the regulatory investigations into Adani Group. Regulatory investigations in two remaining allegations are underway and are expected to be complete

Indian economy to grow at 6.7% between fiscals 2024 to 2031: CRISIL

The Indian economy is expected to grow at an average rate of 6.7 per cent per annum until the end of the decade, CRISIL said in its latest report. The economy will grow at this rate between the financial years 2024 to 2031, a notch above the pre-pandemic average of 6.6 per cent. According to CRISIL, the key contributor to this trend will be capital. This is a result of the investment-driven strategy of the government when the private sector was shy of making investments. The government increased capital expenditure significantly to support building expenditure and providing interest-free loans to states to bolster their own investment efforts, the report said. CRISIL said that after a robust 7.3 per cent growth this fiscal, there will be moderation to 6.4 per cent in the next financial year. There is also a need to monitor the impact of the escalation of the Middle East conflict on energy and logistics costs, it said. In India, the inflation level of 5.7 per cent in December 202

Interim Budget: 'Fiscally prudent, growth-promoting pronouncement'

The underlying nominal GDP growth assumption of 10.5 per cent for the Budget and tax collection estimates are realistic

Agricultural commodities may be significantly impacted by Red Sea crisis

The Red Sea crisis has led to a 122% rise in freight costs in the last few months, according to ICRA

Cement industry to add 150-160 million tonnes capacity by FY28: CRISIL

To cash in on rising demand from infrastructure and housing sectors, the cement industry is on course to add capacity by 150-160 million tonnes from FY25 to FY28, a report said on Tuesday. In the past five fiscals, the industry has added capacity by 119 million tonnes (MT) per annum to reach a total of 595 MT now, according to a Crisil Ratings report. The capacity addition is for the purpose of meeting the rising demand as well as to consolidate market share in a highly fragmented and competitive industry, the report added. Cement demand grew 8 per cent in fiscal 2022 and 12 per cent in FY23. As much as 70-75 MT capacity addition is expected to be commissioned in next fiscal, with 50-55 per cent concentrated in the eastern and central regions. Large players will account for 50-55 per cent of the planned capacity addition, the report said, adding, however, incremental supply and stiffer competition will cap price growth but benign cost will protect and aid margins. Robust demand i

Fall in prices of onion, tomato pushed cost of veg thali down 3% in Dec

On a year-on-year basis, however, the cost of veg thali continues to be higher than in December 2022