Page 31 - Icra

Duty cut could bring down domestic steel prices by 10%, says ICRA

Government's proposal to reduce import duty on steel products in Budget 2021-22 would make their imports more competitive and in turn exert near-term pricing pressures on domestic steelmakers

Reduction in duty could reduce steel prices by up to 10% in near term: Icra

The reduction of duty on steel products, as proposed in the Budget 2021-22, may bring down prices of the metal by up to 10 per cent in the near term, according to ICRA

Icra conslidated net profit rises 8.6% to Rs 24.45 cr in December quarter

It had posted a net profit of Rs 22.52 crore during the same quarter a year ago

Economic activity tentatively returning to pre-Covid levels, says Icra

It can be noted that there have been apprehensions about the sustainability of the demand after a pick-up in economic activity during the festivities

Rajasthan's power distribution companies to raise Rs 1,500 cr through bonds

The rating factors in the companies' status as a wholly owned power sector entity of the state government

Need to increase capital outlay in road sector by at least 15%: Icra

Rating agency ICRA on Wednesday said there is a need to increase capital outlay in the road sector by at least 15 per cent besides expediting asset monetisation programme.

Icra sees GDP up by 10.1% YoY in FY22, but value just a tad ahead of FY20

Rating agency expects monetary policy stance to change to neutral from accommodative in August 2021 policy review or later

Domestic air traffic down by 45% at 7.1 million in December: Icra

This is even as passenger traffic was up 12 per cent sequentially over November 2020, ratings agency Icra said

Cement demand expected to rise by up to 20% in fiscal 2022: Icra

Cement demand is expected to increase by up to 20 per cent in the next fiscal year with volume touching FY19-FY20 levels, rating agency ICRA said

Strong recovery in oil and gas volumes likely in fiscal 2022: Icra

The domestic demand for petroleum products is expected to increase at a healthy rate of 8 to 10 per cent in FY22 on a year-on-year basis, ratings agency Icra said

Electric two-wheeler sales remain tepid despite govt subsidy: Icra

Sales of electric two-wheelers (e-2W) in India remains tepid despite government's subsidy and near-term outlook largely remains unchanged

ICRA maintains stable outlook for road sector amid improved toll collection

Toll collections witnessed a marked improvement on the back of increased movement of both passenger and commercial vehicles

Toll collection likely to grow 15% in 2021-22: Ratings agency Icra

Icra maintained stable outlook for the Indian road sector

NBFCs may see 7-9% growth in assets under management next fiscal: Icra

But access to funding would be crucial to have a sustained improvement, says a report

Icra upgrades financial ratings of Tata Consumer Products to 'AAA'

ICRA has upgraded the rating for long-term financial instruments of Tata Consumer Products worth Rs 350 crore to AAA with a stable outlook from AA-plus

IFGL Refractories hits 52-week high on rating upgrade, leaps 53% in a month

Rating agency ICRA has upgraded credit rating assigned to Rs 173 crore LOC of the company with a stable outlook

PSBs need to raise additional Rs 43,000 crore in FY22, says Icra

Growth in bank credit is likely to pick up to 6-7 per cent in FY22 against an estimated 3.9-5.2 per cent in FY21 and 6.1 per cent in FY20.

CCI dismisses unfair practices complaint against 4 credit rating agencies

CCI dismissed a complaint alleging that Crisil, India Ratings, Care Ratings, and ICRA indulged in unfair business practices

Auto parts industry revenue to grow 16-18% in next fiscal: ICRA

Ratings agency ICRA on Tuesday said it has revised its outlook on the auto component industry from negative to stable, on the back of demand revival across original equipment manufacturers (OEMs), replacements and exports. ICRA expects the domestic auto component industry's revenue to grow 16-18 per cent in the financial year starting April 2021, supported by factors such as increasing content per vehicle, low base effect, and higher realisations. Long-term demand drivers include increased focus on localised supply chains by Indian OEMs. Diversification of supply chain risk by global OEMs is also expected to lead to increased sourcing from India in the coming years, ICRA said in a statement. OEMs, which account for over 56 per cent of the auto component demand, have recorded a sharp increase in demand since September across all segments, barring the medium and heavy commercial vehicle (M&HCV) industry, it added. Volumes of the automotive industry will take 2-3 years to revert to ..

Festive season lifts domestic air passenger traffic by 22% in Nov: ICRA

ICRA also said that the November domestic passenger traffic was close to 50 per cent of the domestic air travel demand in November 2019