Page 26 - Icra

Performance of high frequency indicators moderated in September: ICRA

The YoY performance of 14 of the 15 high frequency indicators (except non-food bank credit) worsened in September compared to August this year, ICRA said.

Coal availability to power plants likely to improve gradually in Oct: ICRA

Domestic rating agency Icra on Wednesday said it expects the availability of coal to power plants to improve gradually during the current month with expected augmentation in both coal production and dispatch levels. "We expect the coal availability to improve gradually during October month with expected ramp-up in both coal production & dispatch levels, also given the seasonality in energy demand moderation expected from November month," Sabyasachi Majumdar, Senior Vice President & Group Head - Corporate Sector Ratings, ICRA said. As a result, thermal plant availability for majority of IPPs/gencos having long-term PPAs (power purchase agreements) is unlikely to remain below 85 pe cent on annual basis and thus, any adverse impact on the credit profile is unlikely, given the two-part nature of long-term PPAs with recovery of fixed charges linked to availability of 85 per cent, Majumdar said. While energy demand grew sharply with at 12.7 per cent Y-o-Y in the first half of FY'22,

Fertiliser subsidy in rabi season to benefit farmers, industry: ICRA

Rating agency ICRA has termed the government's decision to provide a special one-time package for extra subsidy on DAP fertiliser as positive for farmers as well as the industry, and said the availability of key nutrients will improve in the coming months. On Tuesday, the government announced a net subsidy of Rs 28,655 crore on Phosphatic and Potassic (P&K) fertilisers for the October-March period of this fiscal to ensure that farmers get nutrients at affordable prices during the rabi sowing season. The Cabinet Committee on Economic Affairs (CCEA) has approved the Nutrient-Based Subsidy (NBS) rates for P&K fertilisers for October 2021 to March 2022. In a statement, the rating agency said the Centre has approved a special one-time package for pay-out of additional subsidy for DAP and three most consumed NPK grades. The subsidy rates under the NBS scheme have been kept unchanged from the announcement made in May 2021. However, an additional pay out of Rs 438/bag (Rs 8,760 per ...

Cement demand to remain strong in FY22 on rural, infra requirement: Icra

Capacity additions to keep utilisation levels under check in FY22, FY23

Icra slashes growth forecast for auto parts industry to 17-20% for FY22

Icra cited the impact of semiconductor shortage on domestic vehicle manufacturers as well as on exports revenues

Festive season trends, Q2 GDP growth will set the stage for policy stance

We remain cautious that reviving demand could embolden pricing power, allowing a faster transmission of the supply-side pressures to core inflation

Icra says FY22 port cargo volumes to remain robust, exceed pre-Covid level

During April-August period all segments, except fertilisers, posted healthy year-on-year growth; better numbers can be attributed to base effect

Affordable housing loan defaults surge to 7.2%, says rating agency Icra

The ultimate losses to lenders could be limited, given the secured nature of loans

Outlook for Indian road logistics sector remains stable: ICRA

Improved economic activities in second quarter of the ongoing fiscal year will spur growth momentum for the road logistics sector in the second half of the year

Power stocks extend gain as demand seen rising; Tata Power up 26% in a week

The rating agency ICRA has revised energy demand growth outlook upwards from 8 per cent to 8.5 per cent for 2021-22

ICRA flags asset quality pressure risk for IDBI Bank due to pandemic

The agency upgraded the rating for the Mumbai-based private lender's bonds, debentures and tier-II capital instruments from "A" to "A+"

IDBI Bank hits 52-week high, rallies 24% in 4 days on rating upgrade

The bank in an exchange filing said ICRA has upgraded its existing rating to ICRA A+ from ICRA A for Infrastructure bonds, Flexi Bond, Senior & Lower Tier II bonds and Subordinate debt

Centre won't hit market to make up for GST compensation shortfall

To borrow Rs 5.03 trillion in Oct-March 2022

Icra revises up India's fiscal 2022 GDP growth forecast to 9%

Icra said it expects the second half of the fiscal year to have brighter prospects.

High frequency indicators turn 'uneven' in Aug as unlock benefits taper

The performance of the high-frequency indicators in August 2021 was decidedly uneven, especially when compared to the pre-COVID levels

India's festival season could bring pick up in demand, says ICRA

India's upcoming festive season raises hopes for consumer demand picking up, rating agency ICRA said in a note on Monday

Formal sector, administration raises tax kitty 29% in Apr-July from FY20

Year-on-year, the collections grew by 83%. This growth was misleading since it comes on a 30% drop in tax mop-up a year earlier

Securitisation volumes to jump 50% to Rs 1.3 trillion in FY22: Report

Icra on Thursday said domestic securitisation volumes are expected to be higher in the second half of the fiscal, which will result in a 40 per cent jump in overall volumes to Rs 1.3 trillion in FY22

Telecom tower companies to face 180,000 tenancy losses if VIL exits: Icra

Vodafone Idea's financial stress underlined by mounting losses and rising debt is likely to impact its financial lenders and have a bearing on employees and subscribers, ICRA said on Monday

Steel sector outlook revised to positive on continued earnings uptick: Icra

Given the strong earnings growth and capex curtailments following the pandemic-related uncertainty, steelmakers started to aggressively deleverage since the second quarter of FY2021