Page 44 - Icra

Infra push to see cement demand improve to 5% in FY'18: Icra

An expected revival in the infra space may help the cement demand to grow to around 4 to 5 per cent in the next fiscal, according to rating agency ICRA. The agency said that FY2016-17 would be a flat year for the sector as demonetisation had a negative impact on real estate and construction activities and the situation is likely to normalise from the first quarter of FY 2017-18 onwards. ICRA is expecting an uptick in demand from road and irrigation projects and the housing segment next fiscal, which would support the cement prices going forward. Meanwhile, it also added that rising costs as transportation is likely to put pressure on the profitability for the next few quarters. "ICRA expects cement demand growth to recover to around 4-5 per cent during FY2018, driven by a pick-up in the infrastructure segment," ICRA Ratings Senior Vice President & Group Head Sabyasachi Majumdar said. The increased budgetary allocation for infrastructure sector, which includes roads, railways,

'Low tariffs in reverse auction signify cost effectiveness of wind energy'

The low tariffs in reverse auction for wind energy projects demonstrate the cost competitiveness of wind based energy generation against conventional energy sources as well as solar power. ICRA in its report said given that a reverse auction based bidding process leads to a cost competitive price discovery, which is favourable for state-owned distribution utilities, such bidding process is likely to encourage state-owned distribution utilities to award wind power projects through a bidding route, instead of a feed-in tariff, going forward. This in turn is likely to enable the distribution utilities (both in states with wind potential as well as in states with limited wind potential) to tie up the power purchase agreements (PPAs) with wind projects so as to honour their respective renewable purchase obligation (RPO) in a timely manner.ICRA was referring to the tariff of Rs 3.46 per unit discovered through reverse auction in the scheme by the Ministry of New and Renewable Energy (MNRE) .

ICRA gains on share buyback plan

The stock surged nearly 9% to Rs 4,448 on the BSE in early morning trade

ICRA upgrades long term rating on Patanjali Ayurved

The outlook on the long-term rating is Stable, said ICRA

ICRA launches new credit rating system for infrastructure

The new rating framework will be a comment on the expected loss of a project entity

Lending rates cut leads to balance transfers in home loan market: ICRA

SBI reduced the lending rates for home loans by 50 bps to 8.6% for floating rate loans

Indian pharma industry facing growth headwinds: Icra

Growth from US came down to less than 9% in first half of 2016-17 despite consolidation and currency benefits

Former Icra chairman Pranab Kumar Choudhary dies at 68

It was during his days at IFCI, that he was asked to set up the rating agency, with a seed capital of Rs 3.5 crore

ICRA downgrades Amtek Auto unit's term loan rating

The rating action also takes into account the continued depressed financial performance

Credit rating agencies in focus; ICRA surges over 10%

ICRA rallied 15% to Rs 4,144 in intra-day trade. CRISIL surged 7% to Rs 2,240, and CARE up 2% at Rs 1,214 on the BSE.

ICRA to sell subsidiary to Nihilent Technologies

Kolkata-based ICTEAS provides information technology and business analytics services to a global client base

Govt to miss revenue target from telcos: ICRA

ICRA added, however, sector will however contribute to the tune of Rs 5-6 lakh crore over period of next 10 years

Profitability of sugar mills to remain better this year: ICRA

The domestic sugar production at around 25.2 million metric tonnes during the sugar year 2016

Pharma cos to see moderation in growth in US market: Icra

The Indian drug firms have registered strong growth over last decade driven mainly by the US market

Indian steel players to be more profitable in near term: Icra

On the raw material front, India's iron ore production grew by 23% in the last fiscal, reaching 155 million tonne

Flexibility in utilisation of coal linkage to benefit distribution utilities: ICRA

Variable cost of coal based power generation for linkage based plant to decline by about 9 paise per unit

ICRA optimistic on passenger vehicle sales this year

The industry's profitability metrics however face several headwinds like increased product development expenses, increase in employee expenses, says the ratings agency

Reverse auction for short term power to benefit discoms by 50-60 paise/unit: ICRA

This implies a decline by about 13% over the prevailing bilateral traded price level, says the ratings agency

Challenges persist for construction sector and recovery may be delayed due to sharp fall in commodity prices: ICRA

Onus on higher public sector investments is important for revival of capex cycle for these companies, says the ratings agency

Data boom to drive spectrum demand: ICRA

Bharti Airtel has led the way in such transactions, says the ratings agency