Page 36 - Icra

Outlook for kharif season favourable as sowing is 44% more than 2019: ICRA

The monsoon rainfall recorded a timely onset and rains covered the entire country well ahead of the normal date

Sensex surges 548 points amid broad-based buying; Nifty ends above 10,900

All that happened in the markets today

Icra sharply revises forecast, expects economy to shrink by 9.5% in FY21

It has earlier estimated a 5% contraction; Q1 may have seen 25% fall

India passenger vehicle demand likely to rebound slowly this fiscal: Report

Currently, affected by an economic slowdown and the coronavirus-induced lockdown, both demand and production have been disrupted

IT services sector's revenues may contract up to 3% in FY21: Icra

In its report, domestic rating agency Icra also said that the profit margins for the sector will go down as the growth slows down

IT services sector may see downturn of up to -3% due to Covid-19: Icra

IT services companies have managed to overcome supply-led challenges through uninterrupted delivery of IT services through work from home model

India's large steel export volumes not sustainable in near term: Icra

China largest steel export destination for India during Apr-May

Auto component sector FY21 revenue may fall 14-18% over weak demand: ICRA

ICRA expects recovery of the auto components sector to be gradual and slow-paced, with the industry pinning hopes on revival in rural income to support growth in the festive season and thereafter

Borrowings by states double to Rs 1.7 trn in Q1FY21 over Covid-19: Icra

"Icra estimates the net SDL (state development loans) issuance in Q1 FY2021 to have expanded by a sharp 135.6 per cent to Rs 1.4 trillion from Rs 0.6 trillion in Q1 FY2020," it said

SBI Cap to float special purpose vehicle for NBFC debt purchase, says RBI

The government, on May 21, had said it will support creating a SPV that will buy such papers from NBFCs

NBFCs' bad loans may worsen to 5-7% this fiscal due to weak economy: Icra

The lockdown has significantly impacted the cash flow position of NBFCs' borrowers

India records current account surplus of 0.1% of GDP, at $600 mn in Q4

As against this, there was a deficit of $4.6 bn, or 0.7% of GDP in the year ago quarter and $2.6 billion (0.4% of GDP) in Q3 of 2019-20

April-May fiscal deficit at 58.6% of fiscal year target as revenue slumps

Total revenue was Rs 45,498 crore, or 2 per cent of the budgeted estimate of Rs 22.46 trillion, compared to 7.1 per cent for the same period last year.

Gross NPAs of HFCs are estimated to increase to 2.5-3% in FY21: Icra

The situation in the non-housing segment is expected to be worse

ICRA, CARE downgrade Yes Bank's rating on upper tier-2 bonds to D

While the bank has adequate liquidity for coupon payment as per Basel guidelines coupon is not payable if the CRAR is below the regulatory requirement

Icra downgrades Yes Bank's tier-II bonds to 'D' after RBI clampdown

Agency said downgrade has factored in specific features of the instrument where debt servicing is linked to meeting regulatory norms on capitalisation, i.e., CAR of 9%

India Inc's Q4 net profit takes a 22% hit due to Covid-19, says ICRA

While margins contracted by 30 basis points on y-o-y basis, they fell a sharper 120 basis points on a sequential basis to 16.8 per cent

Amazon, Carlyle, Brookfield vie for Biyani's Future Supply Chain Solutions

Future Supply Chain Solutions (FSC) is a third-party supply chain and logistics service provider that offers warehousing facilities also.

Here are the rating agencies' forecasts on India in the last 2 months

Amid the coronavirus pandemic, the pace of credit rating downgrades has accelerated with average monthly downgrades increasing by 22 per cent in the past few months, ICRA said in a report

Low valuations, weak market appetite, liquidity woes hurt new InvITs

Rating agency ICRA had earlier in February estimated that Rs 2 trillion would likely be raised through the InvIT route over the next five years