News

Pharma companies likely to maintain momentum on growth, profitability in regulated markets: Ind-Ra Amid new launches, ongoing drug shortages and growth opportunities in the domestic formulation business, credit rating agency India Ratings and Research (Ind-Ra) in its latest report has stated that its rated pharma companies are likely to maintain the momentum on growth and profitability in regulated markets (US). As per the report, normalisation of drug prices in the US and a softening in raw material prices will help companies to keep revenue growth of 10% and EBITDA margin of about 21%...
Pharma companies likely to maintain momentum on growth, profitability in regulated markets: Ind-Ra
Pharma companies likely to maintain momentum on growth, profitability in regulated markets: Ind-Ra
Source: Accord Fintech
4/09/2023 1:52:40 PM
Corporate rating upgrades continue to outpace downgrades in July: India Ratings and Research Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has stated that the corporate rating upgrades continue to outpace the downgrades in July 2023, as it upgraded 20 ratings in July 2023 (June 2023: 29) while downgrading 10 ratings (June 2023: 9). As per the report, the upgrades were mainly in the realty, power and auto & auto components sectors in the reported month. During May to July 2023, issuers belonging to power, auto & auto components, consumer servic...
Corporate rating upgrades continue to outpace downgrades in July: India Ratings and Research
Corporate rating upgrades continue to outpace downgrades in July: India Ratings and Research
Source: Accord Fintech
29/08/2023 2:46:09 PM
Firms` revenue growth falls but steady operating margins across most sectors: Ind-Ra India Ratings and Research (Ind-Ra) in its latest analysis report based on ‘the Q1FY24 results of 3,323 listed companies’ has showed a continued year on year (YoY) fall in revenue growth, a declining trend in coverage indicators and steady operating margins across most sectors. As per the report, the sharp fall in inflation, global influences affecting exports and normalisation of post-pandemic demand put the pressure on revenues of the companies. It further noted that while th...
Firms` revenue growth falls but steady operating margins across most sectors: Ind-Ra
Firms` revenue growth falls but steady operating margins across most sectors: Ind-Ra
Source: Accord Fintech
23/08/2023 1:55:00 PM
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, announced receiving fresh ratings for proposed Non-Convertible Debenture (NCD) borrowing programmes from ICRA and India Ratings and Research Private Limited for INR 2,000 crore and INR 2,500 crore, respectively. Additionally, the long-term rating for existing bank facilities of INR 4,500 crore was reaffirmed at [ICRA]AA+/[ICRA]A1+ along with the existing NCD of INR 3,000 crore reaffi...
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore
Source: PR Agency
21/08/2023 11:30:45 AM
Private banks` slippages, write-offs from COVID recast nearly double than that of PSBs India Ratings and Research (Ind-Ra) in its latest report has said that private sector banks' slippages and write-offs from loans restructured after the COVID-19 pandemic are nearly double than that of public sector banks (PSBs). It said private sector banks have seen slippages and loan write-offs at 44 per cent, as against 23 per cent in case of PSBs.  The domestic rating agency analysed annual results of lenders for FY23. It found that the peak of restructured assets in bank book...
Private banks` slippages, write-offs from COVID recast nearly double than that of PSBs
Private banks` slippages, write-offs from COVID recast nearly double than that of PSBs
Source: Reuters
19/06/2023 11:44:57 AM
Ind-Ra maintains neutral outlook on Indian chemicals sector for FY24 Amid robust domestic demand, comfortable profitability and strong balance sheets, credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has maintained a neutral outlook on the Indian chemicals sector for FY24. Besides, the rating agency maintained a Stable Rating Outlook on its rated chemical portfolio for FY24. According to the report, chemical sector is likely to witness single digit revenue growth in FY24 in view of a robust demand in domestic markets along with...
Ind-Ra maintains neutral outlook on Indian chemicals sector for FY24
Ind-Ra maintains neutral outlook on Indian chemicals sector for FY24
Source: Accord Fintech
5/05/2023 12:54:40 PM
Ind-Ra maintains neutral outlook for fertilizer sector for FY24 Amid the government of India’s continued policy-level support to the industry by way of the healthy subsidy budget, credit rating agency, India Ratings and Research (Ind-Ra) has maintained a neutral outlook for the fertilizer sector for FY24. A neutral outlook is also on the back of moderation in the raw material prices across urea and nutrient-based fertilizers starting 4QFY23, coupled with the likelihood of a continued healthy demand in view of the GoI’s focus to increase farmer...
Ind-Ra maintains neutral outlook for fertilizer sector for FY24
Ind-Ra maintains neutral outlook for fertilizer sector for FY24
Source: Accord Fintech
26/04/2023 1:49:43 PM
Ind-Ra maintains neutral outlook for Indian pharmaceutical sector for FY24 Maintaining a neutral outlook for the Indian pharmaceutical sector for FY24, credit rating agency, Ic and Research (Ind-Ra) has said that the Indian pharmaceuticals market (IPM) is likely to grow 10%-11% year on year (yoy) in FY24 (FY22: 14.5% yoy; FY23: 9.3% yoy). The agency also expects a muted performance in the US generic market due to a high single-digit price deflation (9MFY23 and FY22: high single digit to low double digit). As per the agency, the Indian active pharmaceuticals ingre...
Ind-Ra maintains neutral outlook for Indian pharmaceutical sector for FY24
Ind-Ra maintains neutral outlook for Indian pharmaceutical sector for FY24
Source: Accord Fintech
20/04/2023 4:35:32 PM
Continued government push to build infra to drive cement demand further in FY24: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that continued government push to build infrastructure will drive cement demand further this fiscal (FY24) by 8-9 per cent over 9 per cent growth in FY23, which will help the sector see some recovery in profitability. According to the report, which has a neutral outlook for the sector for the year, recovery in profitability despite the inflationary pressure and healthy balance sheets will keep the sector in good stead despite t...
Continued government push to build infra to drive cement demand further in FY24: Ind-Ra
Continued government push to build infra to drive cement demand further in FY24: Ind-Ra
Source: Accord Fintech
18/04/2023 12:25:29 PM
Non-bank finance companies likely to face increased funding challenges in FY24: Ind-Ra Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that non-bank finance companies (including housing finance companies) are likely to face increased funding challenges in FY24, which is likely to impact their growth aspirations. As per the report, funding is expected to become more expensive and restricted as lenders realign their pricing as well as funds allocation, factoring in their own increased cost of funds and constraints of their balance sheets...
Non-bank finance companies likely to face increased funding challenges in FY24: Ind-Ra
Non-bank finance companies likely to face increased funding challenges in FY24: Ind-Ra
Source: Accord Fintech
13/04/2023 2:07:57 PM
Ind-Ra maintains neutral outlook for oil and gas sector for FY24 Credit rating agency India Ratings and Research (Ind-Ra) in its latest report has maintained a neutral outlook for oil and gas sector for FY24, amid a stable demand for petroleum products, continued high crude and natural gas prices benefitting the upstream companies, an improvement in the credit profile of oil manufacturing companies (OMCs) on account of a reduction in the losses on the sale of primary fuels and high crack spreads, and a continued sound credit profile of city gas distributio...
Ind-Ra maintains neutral outlook for oil and gas sector for FY24
Ind-Ra maintains neutral outlook for oil and gas sector for FY24
Source: Accord Fintech
12/04/2023 4:17:42 PM
Rising interest rate burden to force companies to reverse deleveraging course in FY24: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that the rising interest rate burden, which is near the pre-pandemic levels and already up 30 per cent over FY22 levels, will force companies to reverse their deleveraging course this fiscal (FY24). The current fiscal is also likely to witness a 25 per cent increase in interest servicing cost. According to the report, top 3,360 plus non-financial, debt-heavy corporates have a debt burden of about Rs 36 lakh crore as of H1 FY...
Rising interest rate burden to force companies to reverse deleveraging course in FY24: Ind-Ra
Rising interest rate burden to force companies to reverse deleveraging course in FY24: Ind-Ra
Source: Accord Fintech
12/04/2023 12:23:29 PM
Current savings, investment rates insufficient for 8% GDP growth: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that clawing the economy back to an 8 per cent growth path will require bringing savings and investment rates closer to 35 per cent on a sustained basis, which were 30.2 and 29.6 per cent, respectively, in FY22. It said a large part of investments will have to be in infrastructure, which can help revive private investments by easing supply constraints and offset the weakening of external demand due to global headwinds. The r...
Current savings, investment rates insufficient for 8% GDP growth: Ind-Ra
Current savings, investment rates insufficient for 8% GDP growth: Ind-Ra
Source: Accord Fintech
31/03/2023 12:18:36 PM
UGRO Capital Limited Is Rated `IND A`/Stable By India Ratings This rating is applicable for UGRO Capital’s bank loan of INR 5,000 mn India Ratings and Research (Ind-Ra) has rated UGRO Capital Limited’s bank loans ‘IND A’/Stable. This rating reflects UGRO Capital's diverse product offering for MSMEs, as well as its geographic and sectoral diversification, strong analytics and usage of dat...
UGRO Capital Limited Is Rated `IND A`/Stable By India Ratings
UGRO Capital Limited Is Rated `IND A`/Stable By India Ratings
Source: PR Agency
25/02/2023 3:07:59 PM
Banking system likely to have hit air pocket in last fortnight of December 2022: Ind-Ra Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that credit growth in the banking system is likely to have hit an air pocket in the last fortnight of December 2022 with the growth slowing down to 14.9% as of December 30, 2022 from a high of 17.4% year on year (YoY) on December 16, 2022, after rising over 15% YoY since September 2022. Ind-Ra further noted that credit growth in FY23 is likely to be in high teens of around 17%, an absolute expansion of ...
Banking system likely to have hit air pocket in last fortnight of December 2022: Ind-Ra
Banking system likely to have hit air pocket in last fortnight of December 2022: Ind-Ra
Source: Accord Fintech
18/01/2023 2:16:00 PM
Funding profile of small and mid-sized NBFCs improving: Ind-Ra Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the funding profile of small and mid-sized non-bank finance companies (NBFCs) is improving, on the back of the resilience exhibited by them during COVID-19 and a build-up of track record. As per the report, bank lending to NBFCs grew by 31% in September 2022. Large NBFCs tap banks and capital markets both for their funding needs; however, with the increase in rates in capital markets during 1HFY23,...
Funding profile of small and mid-sized NBFCs improving: Ind-Ra
Funding profile of small and mid-sized NBFCs improving: Ind-Ra
Source: Accord Fintech
30/12/2022 3:12:21 PM
Foreign investors continue to chase bets in services sector: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that despite the government's high-octane push to boost manufacturing through the 'Make in India' initiative, foreign investors continue to chase bets in the services sector. It said this could be because doing business in the services sector is less complicated than doing business in the manufacturing sector in India. It also said a bulk of the foreign direct investment (FDI) in manufacturing is not greenfield or f...
Foreign investors continue to chase bets in services sector: Ind-Ra
Foreign investors continue to chase bets in services sector: Ind-Ra
Source: Accord Fintech
29/12/2022 11:39:11 AM
Pace of improvement in corporate credit profiles likely to moderate amid global challenges: Ind-Ra Amid higher inflation, slowing exports and an improving but still weak domestic demand, India Ratings and Research (Ind-Ra) in its ‘Research and Ratings Compendium’ has said that the ratio of Upgrades/Downgrades is likely to moderate.  The agency expects the economic growth to slow down to 4.0% - 4.5% in 2HFY23 from 9.7% in 1HFY23. As per the report, the domestic economic activity from 2022 has been largely resilient to global macroeconomic headwinds. The economy has mostl...
Pace of improvement in corporate credit profiles likely to moderate amid global challenges: Ind-Ra
Pace of improvement in corporate credit profiles likely to moderate amid global challenges: Ind-Ra
Source: Accord Fintech
28/12/2022 2:59:22 PM
Core inflation likely to remain elevated in remaining FY23: Ind-Ra Credit rating agency, India Ratings and Research (Ind-Ra) in its ‘December Credit Market Tracker’ has forecasted that the core inflation is likely to remain elevated in the remaining FY23, given that there is a pending pass-through of higher input costs by producers and a continued robust demand in the economy. The country’s retail inflation, measured by the Consumer Price Index (CPI), decreased to 5.88 per cent in the month of November 2022 as compared to 6.77 per cent in O...
Core inflation likely to remain elevated in remaining FY23: Ind-Ra
Core inflation likely to remain elevated in remaining FY23: Ind-Ra
Source: Accord Fintech
27/12/2022 12:24:37 PM
Falling exports, high crude prices set to push up CAD to 37-quarter high of 4.4% of GDP in Q2FY23: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that falling exports and high crude prices are set to push up current account deficit (CAD) in the second quarter (Q2FY23) to a 37-quarter high of 4.4 per cent of GDP at $36 billion as against $9.7 billion or 1.3 per cent in the year-ago period. As a percentage of GDP, the previous high was in the first quarter of 2013-14 when CAD had scaled to 4.7 per cent, but in absolute terms the previous high was in the third quarter of 20...
Falling exports, high crude prices set to push up CAD to 37-quarter high of 4.4% of GDP in Q2FY23: Ind-Ra
Falling exports, high crude prices set to push up CAD to 37-quarter high of 4.4% of GDP in Q2FY23: Ind-Ra
Source: Accord Fintech
15/12/2022 11:33:51 AM
EV charging station business may require investment of Rs 1.05 lakh crore by 2032: India Ratings India Ratings and Research (Ind-Ra) in its latest report has said that Electric vehicle (EV) charging station business may require an investment to the tune of Rs 1.05 lakh crore by 2032 as the country is expected to need 2.30 lakh such facilities during this period. This massive investment will be required to cater to the growing demand for EVs, which is expected to grow at a compounded annual growth rate (CAGR) of 39 per cent, and the resultant requirement of power. The report stated tha...
EV charging station business may require investment of Rs 1.05 lakh crore by 2032: India Ratings
EV charging station business may require investment of Rs 1.05 lakh crore by 2032: India Ratings
Source: Accord Fintech
8/12/2022 1:01:20 PM
Many rising headwinds likely to pull down India`s GDP growth to 4-4.5% in H2FY23: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that the many rising headwinds, both domestic as well as external, are expected to pull down India’s Gross domestic product (GDP) growth to 4-4.5 per cent in the second half of FY2023 (H2FY23), shaving off the better numbers in the first half. It noted that in the first half of the current fiscal, the economy has grown at 9.7 per cent -- 6.3 per cent in the September quarter and 13.5 per cent in the previous three months,...
Many rising headwinds likely to pull down India`s GDP growth to 4-4.5% in H2FY23: Ind-Ra
Many rising headwinds likely to pull down India`s GDP growth to 4-4.5% in H2FY23: Ind-Ra
Source: Accord Fintech
8/12/2022 11:12:25 AM
India`s cenbank likely to go for smaller rate hikes as inflation eases -analysts The Reserve Bank of India is likely to opt for a 35 basis points (bps) rate hike at its policy meeting in December, after three consecutive 50 bps increases, as inflation eased in October and is likely to dip further, analysts said. The RBI has already raised rates by 190 bps since May, to 5.90%, as it battles to reign in inflation that has stayed above its 2%-6% tolerance band for ten straight months now. Its Monetary Policy Committee (MPC) will next meet on Dec. 7. Still, inflation ea...
India`s cenbank likely to go for smaller rate hikes as inflation eases -analysts
India`s cenbank likely to go for smaller rate hikes as inflation eases -analysts
Source: Reuters
15/11/2022 10:06:31 AM
Ind-Ra maintains stable outlook for overall infrastructure sector for H2FY23 Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has maintained a stable outlook for the overall infrastructure sector for second half of this fiscal year (H2FY23). However, the agency revised the outlook on airports to stable from negative and maintained a negative outlook on wind power projects. As per the report, infrastructure investment trusts continue to be the preferred pooled financing vehicle for divesting partial or entire stake and refinancing. Refi...
Ind-Ra maintains stable outlook for overall infrastructure sector for H2FY23
Ind-Ra maintains stable outlook for overall infrastructure sector for H2FY23
Source: Accord Fintech
2/11/2022 2:46:41 PM
Large corporate portfolio resilient to any near-term economic shocks: India Ratings Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the entities having reliance on equity infusions through initial public offerings/rights issues or monetisation of assets are likely to be impacted by tightening liquidity conditions and ensuing volatility in asset prices. As per the report, sudden changes in the macroeconomic contour and volatile conditions in the capital market could inhibit fund raising through these channels, especially for ent...
Large corporate portfolio resilient to any near-term economic shocks: India Ratings
Large corporate portfolio resilient to any near-term economic shocks: India Ratings
Source: Accord Fintech
7/10/2022 1:30:48 PM
Indian pharmaceutical market continues to deliver healthy sales growth in August: Ind-Ra Aided by double-digit sales growth across therapies, except anti-infectives, Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the Indian pharmaceutical market (IPM) continued to deliver healthy sales growth for the third consecutive month at 12.1% mom (month on month) in August 2022. This is despite the higher base impact (August 2021 growth at 18.1% yoy). According to the report, COVID-19 influence had reduced drastically by July 2021 and hence ...
Indian pharmaceutical market continues to deliver healthy sales growth in August: Ind-Ra
Indian pharmaceutical market continues to deliver healthy sales growth in August: Ind-Ra
Source: Accord Fintech
29/09/2022 1:28:16 PM
Ind-Ra upgrades outlook on NBFCs and HFCs to `neutral` from `improving` India Ratings and Research (Ind-Ra) has upgraded its outlook on non-banking finance companies (NBFCs) and housing finance companies (HFCs) to ‘neutral’ from ‘improving’ on better collection efficiencies and asset growth in the sector. However, it said that liability management is key for managing margins and loan growth for NBFCs and HFCs. It also said with the onset of normalcy in lending, the on-balance sheet liquidity would also normalise, negating the impact of the...
Ind-Ra upgrades outlook on NBFCs and HFCs to `neutral` from `improving`
Ind-Ra upgrades outlook on NBFCs and HFCs to `neutral` from `improving`
Source: Accord Fintech
28/09/2022 12:52:39 PM
NBFCs to report around 14% on-year growth in AUM in FY23: India Ratings Non-banking finance companies, including housing finance companies, are expected to report around 14 per cent year-on-year growth in assets under management in current financial year, India Ratings said in a report. "GNPA could rise moderately to 5 per cent in FY23 from 4.6 per cent in 1QFY23 for NBFCs and to 3 per cent from 2.7 per cent for HFCs, largely due to the new NPA recognition norms setting in from October 1, 2022; however, credit cost would remain stable due to the adequate ...
NBFCs to report around 14% on-year growth in AUM in FY23: India Ratings
NBFCs to report around 14% on-year growth in AUM in FY23: India Ratings
Source: IANS
27/09/2022 2:23:00 PM
Bank deposit rates likely to go up further as credit growth outpacing deposit growth by wide margin: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that bank deposit rates are likely to go up further as credit growth is outpacing the deposit growth by a wide margin. As of August 26, 2022 system-level credit growth stood at 15.5 per cent as against 9.5 per cent on the deposit front, which set to intensify competition for deposits as lenders jostle to arrange the funds to fuel the loan demand. Deposits rates to continue to move higher as credit demand strongly outpaces depos...
Bank deposit rates likely to go up further as credit growth outpacing deposit growth by wide margin: Ind-Ra
Bank deposit rates likely to go up further as credit growth outpacing deposit growth by wide margin: Ind-Ra
Source: Accord Fintech
20/09/2022 11:23:59 AM
India`s CAD expected to reach 3.4% of GDP in June quarter 2022 : India Ratings India Ratings in its latest note has said that it expects the current account deficit (CAD) of India to hit a 36-quarter high of 3.4 per cent of gross domestic product (GDP) or USD 28.4 billion in the June quarter 2022, against a 0.9 per cent surplus a year ago. It mentioned in the March 2022 quarter, the deficit was a moderate 1.5 per cent or USD 13.4 billion, while in Q1FY22 the current account surplus was USD 6.6 billion or 0.9 per cent of GDP when the country was hit by the second wave...
India`s CAD expected to reach 3.4% of GDP in June quarter 2022 : India Ratings
India`s CAD expected to reach 3.4% of GDP in June quarter 2022 : India Ratings
Source: Accord Fintech
20/09/2022 11:21:36 AM
Bank of Baroda to issue perpetual bonds -traders India's Bank of Baroda plans to raise at least 5 billion rupees ($62.52 million) through sale of Basel III compliant additional Tier I perpetual bonds, three merchant bankers said on Monday. The state-run lender has invited coupon and commitment bids from bankers and investors on Tuesday, they said. The bonds are rated AA+ by ICRA and India Ratings. The issue will close for subscription later this week. It has a call option at end of five years, and will also have a greenshoe ...
Bank of Baroda to issue perpetual bonds -traders
Bank of Baroda to issue perpetual bonds -traders
Source: Reuters
29/08/2022 9:36:28 AM
Bank of Baroda to raise Rs 1,000 cr via infrastructure & affordable housing bonds Bank of Baroda, the second largest state-owned bank, is planning to raise Rs 1,000 crore through issuance of infrastructure and affordable housing bonds on August 12, a source close to the development told IANS. "The likely tenure for the bonds is seven years and have Rs 250 crore as base issue and Rs 750 crore as greenshoe," the source said. The auction for the infrastructure and affordable housing bonds is expected to be held on August 12 on the BSE's bidding platform. ...
Bank of Baroda to raise Rs 1,000 cr via infrastructure & affordable housing bonds
Bank of Baroda to raise Rs 1,000 cr via infrastructure & affordable housing bonds
Source: IANS
6/08/2022 12:10:08 PM
Indian pharmaceutical market grows 16.6% year on year in June: Ind-Ra Supported by growth across therapies both in terms of volume and value, Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has showed that the Indian pharmaceutical market (IPM) grew strongly at 16.6% year on year (yoy) in June 2022. According to the report, COVID-19 influenced drug growth stood at 8.1% yoy while non-COVID-19 growth was 21.7% yoy in June 2022. Therapy wise (yoy basis), cardiac (13.7%), gastro-intestinal (21.4%), anti-diabetic (14.0%), respirator...
Indian pharmaceutical market grows 16.6% year on year in June: Ind-Ra
Indian pharmaceutical market grows 16.6% year on year in June: Ind-Ra
Source: Accord Fintech
2/08/2022 2:02:11 PM
Banks likely to lose Rs 11,790 crore in Q1 on bond rally: India Ratings India Ratings in its latest report has said banks are unlikely to take a big hit on profitability this quarter due to rising bond yields, which may eat up 5.3 per cent (Rs 11,790 crore) of their net income in the worst-case scenario. It stated in the worst-case scenario, banks may see a profit erosion of 2.6 per cent of their pre-provisioning operating profit and 5.3 per cent of their post-tax profit from treasury losses in Q1. It mentioned during the first quarter, the bond yields rose 61...
Banks likely to lose Rs 11,790 crore in Q1 on bond rally: India Ratings
Banks likely to lose Rs 11,790 crore in Q1 on bond rally: India Ratings
Source: Accord Fintech
25/07/2022 10:33:00 AM
Macroeconomic shocks may lead to 28% rise in demand for working capital loan by companies in FY23: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that unabated macroeconomic shocks may lead to a 28 per cent increase in demand for working capital loan by companies, taking it to Rs 11.2 lakh crore this fiscal (FY23). But, it said this will impact corporates' profitability and cash flows, which may become stagnant or grow at low rate in real terms. It noted that the working capital requirement can rise by 28 per cent to Rs 11.2 lakh crore in FY23, compared to Rs 8.7 lak...
Macroeconomic shocks may lead to 28% rise in demand for working capital loan by companies in FY23: Ind-Ra
Macroeconomic shocks may lead to 28% rise in demand for working capital loan by companies in FY23: Ind-Ra
Source: Accord Fintech
20/07/2022 10:56:28 AM
Revenue of India`s pharmaceutical market rises 16.1% yoy during June 2022: Ind-Ra Credit ratings agency, India Ratings and Research (Ind-Ra) in its latest report has projected that the revenue of India’s pharmaceutical market (IPM) rose 16.1% yoy during June 2022, on the back of strong revenue growth across acute and chronic therapy segments namely gastro-intestinal (GI), analgesics, central nervous system (CNS), derma and gynaec therapy products. Accoding to the report, strong volume growth were observed in key therapies of the IPM. During FY22, IPM had witnessed...
Revenue of India`s pharmaceutical market rises 16.1% yoy during June 2022: Ind-Ra
Revenue of India`s pharmaceutical market rises 16.1% yoy during June 2022: Ind-Ra
Source: Accord Fintech
11/07/2022 1:41:58 PM
India Ratings upgrades ratings of CreditAccess Grameen CreditAccess Grameen (CA Grameen) said that India Ratings and Research has upgraded its rating on the debt instruments of the company to 'IND AA-'/ Stable. India Ratings said that the upgrade factors in CA Grameen's improved geographical diversification, the ability to manage asset quality as demonstrated during the pandemic and other systemic events in the past few years, and the tailwinds of a supportive regulatory environment. The rating also factors in the company's ind...
India Ratings upgrades ratings of CreditAccess Grameen
India Ratings upgrades ratings of CreditAccess Grameen
Source: Dion Global Solutions Ltd
30/06/2022 2:11:08 PM
Housing market growth momentum likely to continue on strong demand in FY23: Ind-Ra Maintaining the sector outlook as improving for FY23 as well, Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report on ‘India’s residential real estate sector’ has said that the housing market growth momentum is likely to continue on the back of a strong demand in FY23. The rating agency further noted that Grade I players are likely to generate strong sales in FY23 due to the ongoing consolidation in the market. According to the report, there has ...
Housing market growth momentum likely to continue on strong demand in FY23: Ind-Ra
Housing market growth momentum likely to continue on strong demand in FY23: Ind-Ra
Source: Accord Fintech
29/06/2022 1:27:13 PM
Continued muted hikes in employee cost may impact consumption demand: Ind-Ra Expressing some concerns, credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the continued muted hikes in employee cost by large corporates despite strong profitability may impact consumption demand, if inflationary pressures remain elevated. According to the report, a sustained weak demand would limit the ability of corporates to pass on price increases to end-consumers, affecting their top line and hence EBITDA generation. Resultantly, the muted ...
Continued muted hikes in employee cost may impact consumption demand: Ind-Ra
Continued muted hikes in employee cost may impact consumption demand: Ind-Ra
Source: Accord Fintech
27/06/2022 1:33:49 PM
India’s current account deficit likely to hit three-year high at $43.81 billion in FY22: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that the country's current account deficit is likely to hit a three-year high of 1.8 per cent or $43.81 billion in FY22, as against a surplus of 0.9 per cent or $23.91 billion in FY21. According to an assessment by India Ratings, the Current Account Deficit (CAD) has moderated to $17.3 billion or 1.96 per cent of GDP in the fourth quarter of FY22 as against $8.2 billion or 1.03 per cent in the year-ago period, and massively...
India’s current account deficit likely to hit three-year high at $43.81 billion in FY22: Ind-Ra
India’s current account deficit likely to hit three-year high at $43.81 billion in FY22: Ind-Ra
Source: Accord Fintech
10/06/2022 12:14:18 PM
India’s pharmaceutical market witnesses 3.3% decline during May 2022: Ind-Ra Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has projected that the revenue of India’s pharmaceutical market (IPM) witnessed 3.3% yoy (year on year) decline during May 2022 on the back of a fall in the sales volumes in acute segment therapies namely anti-infectives, vitamins and respiratory products due to the higher base effect during May 2021 and an inventory correction in the channel. According to the report, strong volume declines were observed i...
India’s pharmaceutical market witnesses 3.3% decline during May 2022: Ind-Ra
India’s pharmaceutical market witnesses 3.3% decline during May 2022: Ind-Ra
Source: Accord Fintech
9/06/2022 2:17:31 PM
Domestic interest rates more likely to be guided by domestic factors: Ind-Ra Owing to the diverging growth-inflation dynamics between advanced economies (AEs) and India, credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that domestic interest rates more likely to be guided by domestic factors such as growth, pro-active supply side management by authorities and higher sensitivity of interest rate over aggregate demand owing to the external benchmark linked loans. According to the report, structural factors such as the elevated s...
Domestic interest rates more likely to be guided by domestic factors: Ind-Ra
Domestic interest rates more likely to be guided by domestic factors: Ind-Ra
Source: Accord Fintech
2/06/2022 1:58:22 PM
Ind-Ra maintains neutral outlook for overall infrastructure sector for FY23 Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has maintained a neutral outlook for the overall infrastructure sector for FY23, amid likelihood of a stable operating performance for majority of the projects, long-term visibility of revenue under concession agreements and power purchase agreements, and expected improved cargo and traffic volumes. The rating agency further noted that internal liquidity, adequacy of operations and maintenance, mitigation of cos...
Ind-Ra maintains neutral outlook for overall infrastructure sector for FY23
Ind-Ra maintains neutral outlook for overall infrastructure sector for FY23
Source: Accord Fintech
24/05/2022 2:17:10 PM
Domestic auto sales fall in April on supply-side constraints, continued weak demand: Ind-Ra Credit ratings agency, India Ratings and Research (Ind-Ra) in its latest report has said that the 5% month-on-month (mom) decline in the domestic auto sales volumes (excluding CVs) in April 2022 was due to the fall in passenger vehicles (PV) and two-wheeler (2W) volumes, owing to supply-side constraints and a continued weak demand, respectively. According to the report, there was also decline in production volumes, fell 4% mom in April 2022, although it was stable over year-on-year (yoy) b...
Domestic auto sales fall in April on supply-side constraints, continued weak demand: Ind-Ra
Domestic auto sales fall in April on supply-side constraints, continued weak demand: Ind-Ra
Source: Accord Fintech
20/05/2022 1:53:18 PM
India's inflation set to average at 9-year high of 6.9% in current fiscal: Ind-Ra India Ratings and Research (Ind-Ra) has said the average headline inflation is set to accelerate to a nine-year high at 6.9 per cent in current fiscal (FY23), and the Reserve Bank of India (RBI) may go for more rate hikes during the fiscal. It stated the RBI will hike rates by another 75 basis points and possibly up to 125 basis points (1.25 percentage point) as well if the turn of events and data are very adverse. It mentioned the first rate increase by the RBI could be of the order of 0....
India's inflation set to average at 9-year high of 6.9% in current fiscal: Ind-Ra
India's inflation set to average at 9-year high of 6.9% in current fiscal: Ind-Ra
Source: Accord Fintech
19/05/2022 10:23:25 AM
Ind-Ra revises up outlook on commercial realty for FY23 Domestic ratings agency India Ratings and Research (Ind-Ra) has revised up its outlook on the commercial realty for FY23, saying the full resumption in the economic activities can revive demand for the sector. The outlook has been raised to ‘improving’ for FY23, from ‘neutral’ in FY22, anticipating an improvement in performance. According to the report, the impact of the third Covid wave has receded and the relaxation in COVID-19 restrictions has led to resumption o...
Ind-Ra revises up outlook on commercial realty for FY23
Ind-Ra revises up outlook on commercial realty for FY23
Source: Accord Fintech
10/05/2022 12:28:05 PM
Indian steel sector outlook likely to remain firm amid concern of global demand uncertainties: Ind-Ra India Ratings and Research (Ind-Ra) in its latest report has said that the Indian steel sector outlook, on the back of strong domestic demand from government and private sectors, is likely to remain firm amid concern of global demand uncertainties in the current fiscal (FY23). It has maintained a '’neutral outlook’ on the steel sector for FY23 in view of high raw material inflation that would result in elevated prices and moderation of volume and margin. Ind-Ra also expects...
Indian steel sector outlook likely to remain firm amid concern of global demand uncertainties: Ind-Ra
Indian steel sector outlook likely to remain firm amid concern of global demand uncertainties: Ind-Ra
Source: Accord Fintech
9/05/2022 12:10:15 PM
Surprise rate hike by RBI to weigh down on banking system's credit growth: India Ratings India Ratings and Research in its latest report has said that the surprise rate hike by the RBI signalling a reversal of the interest rate cycle will weigh down on the banking system's credit growth, which was showing signs of revival with an 11 per cent growth. It said the tailwinds supporting a pick-up in credit growth will be in demand from the industry and services segments, even as growth in the agriculture segment remains stable and muted in the retail segment. It added that over...
Surprise rate hike by RBI to weigh down on banking system's credit growth: India Ratings
Surprise rate hike by RBI to weigh down on banking system's credit growth: India Ratings
Source: Accord Fintech
6/05/2022 12:36:30 PM