Page 23 - Icra

Exports up 30.7% to $40.19 bn in April; trade deficit widens to $20.11 bn

India imported goods worth $60.3 billion, up nearly 30 per cent on year in April

Higher coal imports may push power supply cost for discoms by 4.5- 5%: Icra

The government measures to ease power supply constraints through higher coal imports are likely to increase cost of supply for discoms by 4.5-5.0 per cent in 2022-23, Icra said on Tuesday. On May 5, Ministry of Power (MoP) issued a directive under Section 11 of the Electricity Act, stating that all imported coal-based power plants shall operate and generate power at their full capacity to meet the growing demand, Icra stated. As per this directive, all states and power generating companies (gencos) based on domestic coal will have to import at least 10 per cent of their fuel requirement for blending with domestic coal and meet the growing demand for electricity. This directive by the ministry is valid till October 31, 2022. As the present power purchase agreements (PPAs) do not provide for a pass-through of the fuel cost for these projects, the tariff for supply from these plants under PPAs shall be worked out by a committee with representatives from the MoP, Central Electricity ..

Domestic air passenger traffic logs estimated 83% growth in April: ICRA

Domestic air passenger traffic is estimated to have logged an 83 per cent growth year-on-year at 10.5-million in April as Covid-19 infection cases waned, leaving a gap of just 5 per cent when compared to the pre-pandemic level, ICRA said on Monday. Indian carriers had flown around 11 million passengers in April 2019. However, the domestic airline operators saw the international passenger traffic marginally surpassing the pre-pandemic numbers (around 1.83 million), with total volumes standing at around 1.85 million, it said. It also said that rising aviation turbine fuel (ATF) prices due to ongoing geo-political issues linked to the Russia-Ukraine conflict continue to evolve as a major threat to the recovery process. For April 2022, the average daily departures were at around 2,726, notably higher than the average daily departures of around 2,000 in the same month a year earlier and higher compared to around 2,588 in March 2022, said Suprio Banerjee, Vice-President & Sector Head, ..

State govts' borrowings to be lower by Rs 50,000 crore in Q1: ICRA

During Apr 1-May 2 FY2023, only Andhra Pradesh (Rs 44 billion), Maharashtra (Rs 40 billion), Punjab (Rs 25 billion) and Haryana (Rs 15 billion) raised through State Development Loans (SDL)

India's exports up 24% to $38 bn in April; trade deficit widens to $20 bn

The preceding month had witnessed record outbound shipments of $42.2 billion

Capital expenditure crucial as inflation may hit India Inc plans: Icra

Icra said it expected capacity utilisation to reach the critical threshold of 75 per cent required to trigger broad-based capacity expansion, only by the end of the current calendar year

General insurance industry's GDPI to grow by 10-12% in FY23: Report

The rise is led by higher growth in the health and commercial business segments with increasing awareness of medical insurance and uptick in economic activity, Icra Ratings said in a report

Hospital industry revenue growth likely to moderate in FY23: Report

The rating agency said the performance of its sample set of hospital companies remained strong in Q3 FY22 on the back of continued momentum of elective procedures and strong ARPOB

Two-wheeler demand remains weak as compared with last year: Icra

Demand for two-wheelers continues to be weak while that for passenger and commercial vehicles remains robust as compared with last year, a survey by ratings agency Icra has revealed.

Sugar shares rally up to 9% on hopes of strong operational performance

With favourable mix of ethanol towards B-heavy/juice (feedstock) coupled with higher sugar realisations; operating margins are expected at 12.7%-13.7% in FY22-FY23 (slightly higher than FY21 levels).

Indian tea companies smell opportunity as Sri Lanka crisis brews

Island nation largest orthodox tea supplier, exporting over 95% of its production, according to ICRA report

Domestic air traffic up 59% in FY22, 40% lower than pre-Covid level: Icra

It also expects elevated Aviation Turbine Fuel prices, aggravated by geo-political issues, to remain a near-term challenge for industry and will be a key determinant of profitability for the sector

Geopolitics could shape FY23 asset quality

Sectors that witnessed relatively high upgrades in the just-concluded fiscal include real estate, power, ferrous metals, textiles and pharmaceuticals

RBI monetary policy review: Revised HTM cap to aid govt borrowing

It is also expected to help in softening the blow from hardening bond yields, bankers and analysts said

Bank credit growth likely to be at 8.9-10.2% this fiscal: Report

The outlook for banks is expected to be stable amid an improvement in credit growth of 8.9-10.2% and decline in provisions in the current fiscal, rating agency Icra Ratings said on Tuesday

Bad loans to decline to 5.6-5.7% level by March 2023, says ICRA

The credit and other provisions are estimated to dip to 1.3-1.4 per cent of advances in FY23 as against an estimated 1.7-1.8 per cent in FY22

Hindustan Aeronautics sees record Rs 24K-crore revenue in FY22

Income likely to continue flowing in from helicopters and Tejas light fighter

India Inc's credit quality improved in 2nd half of FY22: Rating agencies

Icra said credit quality rebounded in FY22 after the economic slowdown in FY20 and the pandemic scarred FY21

Credit quality of Indian corporate sector experiences rebound in FY22: ICRA

Geo-political tensions may limit further improvement in FY23

India's core sector grows 5.8%; fiscal deficit widens to 82.7% of RE

When compared to the same month a year ago, all sectors except crude oil (-2.2 per cent) and fertilisers (-1.4 per cent) registered robust growth