Page 5 - India Ratings

India Ratings pegs GDP growth for FY22 at 8.6% after data revision

India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 per cent from the consensus 9.2 per cent projected earlier. The National Statistical Organisation (NSO), which has forecast 9.2 per cent real GDP growth for the year, will release the second advance estimate of national income on Monday. According to an India Ratings analysis, NSO is likely to peg the FY22 real gross domestic product growth at Rs 147.2 lakh crore. This translates into a GDP growth rate of 8.6 per cent, down from 9.2 per cent forecast in the first advance estimate released on January 7, 2022. The major reason for the likely downward revision is the upward revision of FY21 GDP to Rs 135.6 lakh crore in the first revised estimate of national income for FY21, which was released on January 31, 2022, the agency said. As a result, GDP for FY21 is improved to (-) 6.6 per cent from the provisional estimate of (-)7.3 per cent released on May 31, 2021. Besides this, the second revised estimate of

India Ratings revises microfinance sector outlook to 'neutral' for FY23

India Ratings has revised upwards its outlook on the microfinance sector to 'neutral' from 'negative' next fiscal, on the back of a revival in growth that could clip at 30 per cent. The agency expects the sector to grow 20-30 per cent in both FY22 and FY23 in comparison to the below 10 per cent AUM (assets under management) growth in the previous two years. Given the yield limitations, mid- and small-MFIs have not seen comparable growth. While large MFIs will continue with their normal disbursement trends and new customer acquisitions as normalisation happens in FY22 and FY23, small- and mid-ones will ramp up their activities once the harmonisation guidelines are implemented. The agency see that the impact of the pandemic on credit cost has been largely absorbed by now, and there is a likelihood of normalised growth for these small lenders. Also, their collections, especially those disbursed after the pandemic, have recovered and refinance has become relatively easy now. Another ..

States' fiscal deficit to stand at 3.6% in FY23, India Ratings

Revising outlook on state finances to improving in FY23 from, Ind-Ra expects the aggregate fiscal deficit of states to stand at 3.6% of their GDP from 3.5% in FY22 on back of robust revenue growth.

India Ratings upgrades outlook on banking sector to 'improving' for FY23

Key financial metrics are likely to continue to show improvement in FY23, backed by strengthened balance sheets, an improving credit demand outlook and expected commencement of corporate capex cycle.

India Ratings upgrades JSW Energy's credit rating to AA stable

JSW Energy on Monday said that India Ratings has upgraded its long-term credit rating to IND AA (stable) from IND AA- (stable).

Ind-Ra keeps 'neutral' outlook for power sector; demand growth to return

Ind-Ra has maintained a 'neutral' outlook for the power sector for FY23 and expects the demand growth to come back to a normal level of 6 to 7 per cent in the next fiscal year.

Union Budget 2022: The capex push, says India Ratings' Devendra Kumar Pant

The philosophy appears to be addressing the unemployment issue through increased capex, which will have a multiplier impact on the economy

India Ratings sees FY23 GDP growth at 7.6% on sustained govt spending

The ratings agency said it estimates investments, as measured by gross fixed capital formation (GFCF), to grow 8.7 per cent YoY in FY23

India Ratings revises Vedanta's outlook to positive from stable

The outlook revision reflects a likely improvement in the operational cash flow for FY22 and FY23 because of a significant increase in the operating profitability, says rating agency

India Ratings upgrades Tata Steel to 'IND AA+'; outlook 'stable'

The ratings agency said that reducing exposure to loss-making overseas units, sustained positive free cash flows at European operations are positives for the steelmaker

India Ratings launches ESG relevance disclosure on rated companies

India Ratings and Research launched its integrated disclosure that shows how environmental, social, and governance (ESG) factors impact individual credit rating decisions

Ind-Ra to disclose more ESG notes on ratings from January 2022

These disclosures will be part of rating action commentaries for all entities having listed securities, says the rating agency

Large infrastructure gaps exist in horticulture: India Ratings report

This is because cold storage capacity has barely kept pace with the requirement, according to the report.

India Ratings upgrades Capacite Infra to 'IND BBB'; outlook 'stable'

Capacite Infraprojects provides engineering, procurement and construction/turnkey solutions for housing, high rises, super high rises, speciality buildings and urban infrastructure

Moody's upgrades India's rating outlook to 'stable' from 'negative'

Retains lowest investment grade rating

India Inc's credit profile gets stronger during Covid-19 pandemic

But rating agencies warn that broad-based upturn not visible yet

Led by data, telecom players' Arpu to grow even without tariff hike: Report

The sliding voice tariffs, growing data tariffs indicate that the average revenue per user of the industry could grow even without tariff hikes, says India Ratings

Securitisation volumes pick up post-Q1 FY22 as collections improves: Report

India Ratings and Research on Friday said securitisation volumes have picked up post the second wave lull in the first quarter of the current fiscal, helped by the improvement in collections.

Elevated inflation can be a drag on overall economic recovery: Ind-Ra

India Ratings and Research (Ind-Ra) has said that salaried and wages earners will be a drag on overall economic recovery in medium term due to tepid recovery of household consumption.

Auto volumes likely to rise 12-16% this fiscal: India Ratings report

Auto volumes are expected to rise 12-16 per cent year-on-year this fiscal, as against the earlier estimate of 16-20 per cent, India Ratings Research (Ind-Ra) said in its latest auto outlook.