Page 30 - Icra

Scrappage policy to give fillip to automobile industry volumes: ICRA

Vehicle Scrappage policy will provide a fillip to automotive industry volumes and spur demand for new vehicles, rating agency ICRA said

ICRA surges 9% after Parag Parikh Flexi Cap Fund buys stake

On March 18, PPFAS Mutual Fund A/C Parag Parikh Flexi Cap Fund purchased 201,655 shares, representing 2.09 per cent stake, in ICRA for Rs 56.06 crore

Icra upgrades Titan's long term rating to 'AAA' with stable outlook

Apart from the growing Titan's store network, a shift towards organised sector will support growth

Outlook negative for power discoms due to falling revenues: ICRA

The outlook for electricity distribution segment remains negative with continued weakness in financial position of most state-owned discoms, according to a report by ICRA

Credit outlook negative for aviation industry, says ICRA

This reflects a view that financial performance of airlines is likely to remain weak in near-to-medium term amid weak air traffic

Home loan rate cuts didn't dent the margins: Bankers and analysts

Experts don't see further cuts boosting demand, with rates already at record lows

2-6% retail inflation band has been working well since 2016, say economists

However, some want core to be monitored as well, MPC should be given leeway to choose target

Spectrum auction surpassed estimates; industry's debt levels to rise: ICRA

The results of telecom spectrum auctions, that grossed over Rs 77,800 crore, have "exceeded" initial estimates, ICRA said on Tuesday. While the value of sales was just 19 per cent of the value of total spectrum on offer, the debt levels of the industry are expected to rise further, post the auctions, and the debt protection metrics would continue to remain weak despite improvement in operating metrics, it said. Commenting on the telecom spectrum auctions, Ankit Jain, Assistant Vice-President, ICRA, said that the outcome exceeded earlier estimates and have fetched the exchequer around Rs 77,800 crore of which around Rs 28,000 crore will have to be paid upfront. "The telcos not only bid for renewals of the expiring spectrum but focused on consolidating their spectrum holdings in the 800 MHz, 900 MHz and 2300 MHz bands. While the sub-GHz bands will be crucial for 5G technology deployment going forward as well as improvement of indoor coverage, the appetite for 2300 MHz band stems from

Expect domestic air traffic to return to pre-Covid level by FY23: ICRA

ICRA also said the cargo volumes are likely to grow around 36 per cent in 2021-22 and six per cent in 2022-23 after a 25 per cent contraction this fiscal, reaching pre-COVID-19 levels in 2021-22

ICRA reaffirms AA-plus rating on United Spirits' financial instruments

ICRA has reaffirmed AA-plus rating with a stable outlook on United Spirits Ltd's (USL's) Rs 3,425 crore long-term, short-term and non-fund based financial instruments

After record FY21, brokerages' revenue growth to moderate in FY22: ICRA

'The ongoing investor exuberance is expected to wane gradually. The trading volumes are expected to moderate compared to the peak witnessed in the last few months,' says an ICRA official

Growth pace in high volume indicators slows in January, says ICRA

Five indicators - passenger vehicle output, vehicle registration, Coal India output, diesel consumption, and domestic airlines passengers - recorded contraction in January

Large real estate players double market share amid recovery: ICRA

The residential realty sector is witnessing a K-shaped recovery, credit rating agency ICRA said on Tuesday

Loans with dues in excess of 90 days show spike in Dec 2020: ICRA

The delinquencies, which were 0.6-0.7 per cent level in February, shot up to 3.4-3.6 per cent in case of SME and MFI segment by December

Monthly collections in retail pools of NBFCs at pre-moratorium level: Icra

Icra said the monthly collections, including overdues in its rated retail loan pools originated largely by NBFCs and HFCs, have reached pre-moratorium levels

ICRA reaffirms AAA stable for Axis Bank's infra bonds, debentures

ICRA has reaffirmed AAA rating on Axis Bank's infrastructure bonds and debentures worth Rs 22,205 crore.

Q3 GDP projection: It's moderate growth or mild fall, say economists

The GDP numbers for the third quarter are expected to be released next week.

Tariff hikes by telcos set to ring in revenue growth in FY22: ICRA

ICRA expects total industry debt to remain elevated at Rs. 4.7 lakh crore as on March 31, 2022

Securitisation recovers in Q3, up 61% at Rs 24,400 cr for shadow banks

Rating agency Icra estimates annual for FY21 securitisation at Rs 80,000-90,000 crore

January air traffic growth slows down to 3.5% sequentially: Icra

DGCA yet to release traffic data; in December domestic airlines flew 7.3 mn passengers with month-on-month growth of 15%