Page 35 - Icra

States may cut FY21 capex by Rs 3 trillion due to GST shortfall: Icra

States may have to significantly cut expenditure by as much as Rs 3.4 trillion in the current fiscal if they are not paid full compensation relating to GST, investment information agency ICRA has said

In absence of GST compensation, states may cut FY21 capex by Rs 3 trn: ICRA

The borrowing alternative offered by the Centre to make up for the shortfall in the promised compensation will lead to the states' fiscal deficits widening to 4.25 - 5.52 per cent

State govts' FY21 deficit seen ranging from 4.25 to 5.52% of GSDP: Icra

State governments' deficit is seen in the range from 4.25 per cent up to 5.52 per cent of the gross state domestic product (GSDP) in the current fiscal, Icra estimates showed

5-8% of overall loans will get restructured under new framework: Icra

Banks and non-bank lenders will restructure up to Rs 10 lakh crore in debt or 8 per cent of outstanding loans under the one-time restructuring scheme announced by RBI, domestic rating agency Icra said

Tile players' turnover likely to decline 15-25% in FY21, says ICRA

The Covid-19 pandemic has exacerbated weakness in the domestic tile demand, following the negative impact on its end-consumer industry, the real estate sector, ratings agency ICRA said on Monday

Domestic tiles demand likely to remain weak in current fiscal: Icra

The domestic tiles demand is likely to remain weak in the current fiscal, mainly due to low disposable income and subdued consumer sentiment amid Covid-19 pandemic, according to rating agency Icra

Highway traffic rises but full recovery may take another quarter

Firms attribute sluggishness to monsoon, local lockdowns

Adani Gas hits new high after ICRA upgrades Co's rating with stable outlook

In the past one month, Adani Gas outperformed the market by surging 23 per cent against a 2 per cent rise in the S&P BSE Sensex.

Corporate revenues slide 31% in Q1, profit margin drop not as stark: Icra

Sectors like airlines, hotels, retail, automotive, consumer durables which represent discretionary spending were significantly impacted

Electricity demand improves to 98% of pre-Covid-19 level in August: ICRA

The electricity demand recovery on an all-India level has largely been led by northern and eastern states with a year-on-year (y-o-y) increase of 6-13 per cent in demand in July 2020, it said

Icra finds FinMin's estimates of GST compensation gap much smaller

Estimates by Icra put the total gap at Rs 2.92 trillion against the ministry's estimates of Rs 2.35 trillion

ICRA Q1 net profit declines 17% to Rs 17 cr, income down at Rs Rs 80.8 cr

The level of activity in the economy was significantly impacted by the coronavirus-induced lockdown in the first quarter of 2020-21, it said

MARKET WRAP: Sensex gains 230 pts, ends above 39K level; auto stocks rally

All that happened in the markets today

India's Q1FY21 GDP may shrink by 25%, says ICRA; flags distress in MSMEs

India's Q1FY21 GDP is expected to contract by 25 per cent, ratings agency ICRA said on Tuesday

About 5-8% of loan book will be recast under RBI scheme, says ICRA

With the expectation of reduced slippagges of 3-4 per cent, the GNPAs might increase to 9.8-10.3 per cent by March 31, 2021 from 8.5 per cent as on March 31, 2020

Restructuring likely to be at 5-8% of banks loan book under new norms: ICRA

Last week, the RBI allowed banks to go for a one-time restructuring of corporate and personal loans that are under stress due the Covid-19 pandemic

Power transmission sector to get investment worth Rs 1.8 trn by FY25: Icra

It said evacuation infrastructure for renewable energy (RE) projects will drive investments in the power transmission segment

Icra revises FY21 2-wheeler sales forecasts downward, says may dip 16-18%

ICRA had earlier said that two-wheeler sales could decline by 11-13 per cent in the current fiscal

Icra revises outlook on logistics sector to 'negative' from 'stable'

With gradual easing of lockdown curbs, E-way bill generation has revived to about 70%, while railway and seaway freight volumes have revived to 85-90% of pre-Covid levels in June

Domestic pharmaceutical industry to clock 4-6% growth in FY21: Icra

The domestic pharma industry has been posting slow growth numbers since March after the Covid-19 pandemic hit prescription generation