Page 24 - Icra

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

Govt extends ECLGS by one year, expands scope for contact-intensive sectors

Eligible borrowers in hospitality and related sectors, except civil aviation, can avail up to 50% of their highest fund based credit outstanding

Icra lowers FY23 GDP forecast to 7.2% on higher prices, supply disruption

Rating agency cites impact of ongoing Ukraine war, China lockdowns

ICRA lowers India's FY23 GDP growth forecast to 7.2% from 8%

Ratings agency ICRA has lowered India's FY23 GDP growth forecast to 7.2 per cent from an earlier projection of 8 per cent.

Coal prices may stay elevated throughout FY23, says ICRA

With international coal prices increasing further now, this trend in likely to continue in FY23 as well, putting pressure on domestic miners to ramp up production

Domestic broking industry's revenue growth to moderate in FY23, says ICRA

For the ongoing fiscal year, the industry is expected to clock record revenues of Rs 28,000 crore, which will be around 30 per cent higher than those in FY21

Andhra HC order upholding PPAs positive for renewable energy sector: ICRA

The High Court of Andhra Pradesh upholding the sanctity of PPAs (power purchase agreements) is a positive development for the renewable energy sector, ICRA said on Wednesday. The High Court of Andhra Pradesh vide its order on March 15, 2022 in the matter of PPA tariff renegotiation for wind and solar power projects, has directed the state discoms to honor the terms of the signed PPAs and clear the pending payments, as per the agreed tariff under the PPA within six weeks from the date of the order. "The order issued by the AP High Court upholding the sanctity of the signed PPAs is a significant positive development for the renewable energy sector and thus, will provide a major liquidity relief for the affected IPPs in the state," Girishkumar Kadam, Senior Vice President & Co-Group Head - Corporate ratings, ICRA, said in the statement. According to Kadam, pending resolution of PPA tariff renegotiation matters has been a key concern for the RE sector and in turn affected the credit ..

Why the Russia-Ukraine conflict may put the brakes on Indian fuel imports

Demand for all oil products may grow at only 2-3% in FY23, slower than the current fiscal and nearly half the 5.5% growth estimated by the petroleum ministry, according to industry officials

Ukraine war: Icra sees serious downside risks to growth; CAD to cross 3.2%

The highest CAD was in FY13 when it crossed the 4.8 percentage points and the second high was in FY12 when it was at 4.3 per cent

Ukraine war has states paying highest for debt at 7.29%, says report

The average cut-off or cost of borrowing shot up to 7.25 per cent for 10-year SDLs, reflecting the sharp surge in crude oil prices after Russia invaded Ukraine

Domestic aviation industry may report Rs 26,000 cr loss this fiscal: Icra

The ratings agency also estimates that the industry will require an additional funding in the range of Rs 20,000-22,000 crore during FY22-FY24