Page 10 - Icra

Accenture's guidance cut likely to weigh on Indian IT sector: Analysts

Companies likely heading to a slow start in FY25 as clients hold on to spending, they say

Collection efficiency for personal loans reduces in December: ICRA

Earlier, in October 2023, Reserve Bank of India Governor Shaktikanta Das had flagged the high growth in certain components of consumer credit, of which personal loans are a component

NIIF-backed Digital Edge to invest Rs 1,400 cr in Navi Mumbai data centre

Plans to expand capacity to over 300 Mw in 7-8 years; taps SBI for term loan

Competition status quo to stay amid PNGRB notice: Industry experts

Petroleum and Natural Gas Regulatory Board (PNGRB) in a public notice said the infrastructure exclusivity granted to geographical areas in Mumbai and Greater Mumbai have expired

Initial cost of e2W may rise 10% due to reduced subsidy, says ICRA

Credit rating agency ICRA expects the initial cost of an electric two-wheeler (e-2W) to increase by 10 per cent due to the reduced subsidy

Passenger vehicles industry estimated to grow up to 9% this fiscal: ICRA

The domestic passenger vehicle (PV) market is estimated to grow by six to nine per cent in the current financial year over the preceding fiscal, according to ratings firm ICRA. In absolute terms, the PV industry will clock a sales figure of 4.2 million units in the current fiscal. The report said that dealer inventories remain high despite strong retail sales, and the pace of growth is expected to taper off in the coming financial year. ICRA said that during the recently concluded festive season, retail sales grew six per cent year-on-year. The inventory levels in the industry remain high at 50 to 55 days at the end of January 2024. The utility vehicle (UV) segment continued to expand led by a shift in customer preferences coupled with a slew of product launches. The demand for the entry car segment remained muted, the report said. The availability of alternative fuels like CNG and electricity is steadily on the rise aided by the introduction of new models. The capital expendi

Domestic steel consumption growth may slow down to 7-8% in FY25: ICRA

With most large steel-consuming hubs globally facing subpar economic activities in the near term, global steel trade flows have been increasingly redirected to high-growth markets like India

Domestic air passenger traffic expected to surpass pre-Covid levels: ICRA

The domestic air passenger traffic is expected to surpass the pre-Covid levels of 141.2 million and reach 150-155 million this fiscal, registering an estimated growth of 8-13 per cent, credit ratings agency Icra said on Wednesday. Icra also projected a significant reduction in industry's net loss for the next two fiscals and was also of the view that supply-chain challenges and engine failure issues may remain near-term headwinds. Icra maintains a "stable" outlook on the domestic aviation industry, amidst the continued recovery in domestic and international air passenger traffic, and relatively stable cost environment, it said. The momentum in traffic growth is expected to continue in FY2025 as well, with a similar estimated year-on-year growth, aided by rising demand for both leisure and business travel and improving airport infrastructure, it said. The international passenger traffic for Indian carriers surpassed the pre-Covid levels in FY2023, although it trailed the peak levels

Securitisation of loans by SFBs to cross Rs 10,000 cr in FY2024: ICRA

Fundraising by small finance banks (SFBs) through securitisation is expected to exceed Rs 10,000 crore in FY2024 against Rs 6,400 crore in the previous year, rating agency ICRA said on Tuesday. The third quarter of FY2024 alone witnessed the quarterly record high securitisation volumes of about Rs 4,200 crore, ICRA said in a release. "The market share of SFBs in the securitisation market would accordingly touch a peak of 6 per cent in FY2024 from levels of sub-2 per cent prior to FY2022," it said. In FY2024, ICRA said six SFBs raised funds through this route against four in FY2023 and only two in FY2022. "The increase in the number of SFBs securitising their assets signals a deepening of the domestic securitisation market, as it provides them an alternative route to raise funds to sustain their growth momentum," it said. Abhishek Dafria, Senior Vice President and Group Head - Structured Finance Ratings at ICRA said the securitisation market has traditionally been dominated by ...

NLC India jumps 5% as ICRA reaffirms rating on NCDs worth Rs 2,000 cr

That apart, NLC India has also participated in the bidding for 20 blocks in the initial phase of the auction for critical mineral blocks in India.

Indian hotel industry to report 7-9% revenue growth in FY25: ICRA

The Indian hotel industry is expected to register a revenue growth of seven to nine per cent in the next financial year 2024-25, according to a report by credit rating firm ICRA. ICRA said that sustenance of domestic leisure travel, demand for meetings, incentives, conference and exhibitions (MICE) are the factors which will drive demand in the next financial year, despite a temporary lull during the ensuing general elections. The research firm said that spiritual tourism and Tier 2 cities are expected to contribute meaningfully to the overall demand in the next fiscal. According to ICRA, estimates for pan-India hotel occupancy reached a decadal high of 70 per cent to 72 per cent in the current financial year and next fiscal, as compared to 68 per cent to 70 per cent in 2022-23. Pan-India, average room rates (ARRs) are expected to be around Rs 7,200 to Rs 7,400 in the current fiscal, which is likely to rise further to Rs 7,800 to Rs 8,000 in the next financial year. ICRA holds a .

Renewable Energy capacity to rise to 170 GW by March 2025, says ICRA

India's installed Renewable Energy (RE) capacity, excluding large hydro plants, is estimated to increase to 170 GW by March 2025 from a level of 135 GW in December 2023, rating agency ICRA said on Friday. "ICRA estimates that the rise in the RE capacity over the next five-six years is estimated to enhance the share of RE plus large hydro in the all-India electricity generation from about 23 per cent in FY24 to around 40 per cent in FY30," ICRA said in a statement. Given the intermittency associated with RE generation, the availability of Round The Clock (RTC) supply from RE sources remains important, it stated. This can be made possible through the use of wind and solar power projects complemented with energy storage systems, it suggested. According to the statement, ICRA expects the installed RE capacity, excluding hydro energy, in India to increase to about 170 GW by March 2025 from 135 GW as of December 2023. Thereafter, the capacity addition is likely to be supported by the ..

SDI issuances by corporates to rise to Rs 100 crore in FY2024: ICRA

According to ICRA, since FY20, 18 SDIs have been issued by corporate entities, totalling approximately Rs 250 crore

GDP growth to moderate sequentially to 6% in Q3 FY2024, projects ICRA

Rating agency ICRA on Wednesday projected GDP growth to moderate sequentially to 6 per cent in the third quarter of FY24 from 7.6 per cent in the preceding three months mainly due to subdued performance of agriculture and industrial sectors. Further, it said the GVA (Gross Value Added) growth is estimated to ease to 6 per cent in the October-December quarter FY24 from 7.4 per cent in the second quarter of the last fiscal. The anticipated deterioration in the industrial sector growth in the third quarter is partly attributable to an adverse base effect and a deceleration in volume expansion, even as the continued deflation in commodity prices kept the profitability of some sectors favourable. Additionally, a mild 0.2 per cent contraction in the total spending of the government of India and the 25 state governments (all states except Arunachal Pradesh, Goa, and Manipur) in the October-December period is expected to have dulled the GVA growth in the quarter. "Lower volume growth for t

Commercial vehicle sales likely to enter into a downcycle in 2024-25

Volumes are expected to dip by 4-7 percent

Auto components sector growth may ease to 5-7% in FY25, says ICRA

On the EV front, there is significant opportunity. At present, only 30-40 percent of the EV supply chain is localised

Canara Bank raises Rs 2,000 crore in capital through Tier-I bonds

In January, the country's largest lender SBI raised Rs 5,000 crore in capital through Basel III compliant Additional Tier 1 bonds (AT-I) at a coupon rate of 8.34 per cent amid tight market conditions

PE majors Blackstone, ChrysCapital join race to buy Healthium Medtech

The company is generating good response from the potential bidders as it is focusing primarily on products in surgical and post surgical as well as chronic care

At Rs 9.82 trillion, April-Dec fiscal deficit 55% of govt's annual target

The fiscal deficit was marginally lower at Rs 9.9 trillion, recorded during the corresponding period last year

Indian companies look to cash in on bulging infrastructure order book

The growth of the big companies is trickling down to smaller companies and suppliers too