Powered by: Motilal Oswal

News

Generic drug prescription mandate unlikely to impact profitability of Indian pharma companies: Fitch Ratings Fitch Ratings in its latest report has said that the government guidelines mandating physicians prescribe only generic drug names face execution challenges and are unlikely to impact profitability of pharmaceutical companies in Indian market. It also said the domestic pharmaceutical market is mainly a branded generics market in which pharma companies sell off-patented drugs under their own brand names with varying prices. According to the report, a sizeable erosion in branded generics sale...
Generic drug prescription mandate unlikely to impact profitability of Indian pharma companies: Fitch Ratings
Generic drug prescription mandate unlikely to impact profitability of Indian pharma companies: Fitch Ratings
Source: Accord Fintech
25/08/2023 12:12:46 PM
Indian banks` operating environment strengthens as Covid-19 risks ebb: Fitch Ratings Fitch Ratings has said the operating environment for Indian banks has strengthened as economic risks associated with the Covid-19 pandemic have ebbed. It said India was badly affected by the pandemic, but the associated risks have now receded. The easing of pandemic-related risks has been accompanied by a strengthening of capital buffers. It also said a number of prudential indicators for the sector have also improved compared to pre-pandemic levels, and the operating environment score con...
Indian banks` operating environment strengthens as Covid-19 risks ebb: Fitch Ratings
Indian banks` operating environment strengthens as Covid-19 risks ebb: Fitch Ratings
Source: Accord Fintech
17/08/2023 10:31:26 AM
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings The operating environment (OE) for Indian banks has strengthened as economic risks associated with the Covid-19 pandemic have ebbed, Fitch Ratings said in a report on Wednesday. Fitch also said other structural issues like lengthy legal process, 'bad bank’ not playing a meaningful role hamper the OE. While the number of prudential indicators for the sector have also improved compared with pre-pandemic levels, though growing risk appetite in a relatively benign OE highlights th...
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings
Source: IANS
16/08/2023 3:30:01 PM
US stocks traded lower after rating downgrade US stocks traded lower on Wednesday after markets were rattled by a lowering of the US government's credit rating by Fitch Ratings and as bond yields yields rose when the Treasury boosted the size of its debt sales, though data from ADP showed that the labour market is still quite strong, MarketWatch reported. US stocks fell on Wednesday with a broad risk off tone across markets after rating agency Fitch late Tuesday lowered the US credit rating citing "expected fiscal deteriorati...
US stocks traded lower after rating downgrade
US stocks traded lower after rating downgrade
Source: IANS
3/08/2023 9:08:13 AM
Dollar, gold can strengthen as investors shift assets towards safe havens The dollar and gold can strengthen as investors shift assets towards safe havens due to the impact of US debt being downgraded by Fitch, Tata Mutual Fund said. This could also weigh on emerging-market assets due to rise in US yields. “We believe that the Fitch rating downgrade is unlikely to lead to major impact in debt, currency and commodity markets. As the previous rating downgrade for US debt came in 2011 by S&P, which had then led to steep stock market declines and rising...
Dollar, gold can strengthen as investors shift assets towards safe havens
Dollar, gold can strengthen as investors shift assets towards safe havens
Source: IANS
2/08/2023 5:36:23 PM
US Rating Downgrade by Fitch - Tata Mutual Fund THROUGH THE LENS United States Downgraded to AA+ by Fitch The Event • Fitch Rating downgraded its US debt rating to AA+ from AAA • The Rating downgrade reflects the expected fiscal deterioration over the next three years, a high and growing government debt burden, and erosion of governance. • Treasury Secretary Janet Yellen quickly responded to the downgrade, calling it “arbitrary” and “outdated.” Possible Impact • We believe th...
US Rating Downgrade by Fitch - Tata Mutual Fund
US Rating Downgrade by Fitch - Tata Mutual Fund
Source: PR Agency
2/08/2023 4:51:36 PM
Gold gained on Fitch downgrade US credit rating The credit rating downgrade of the US by Fitch resulted in gold prices gaining slightly, said a senior official of Geojit Financial Services. “Gold prices slightly gained after the US government’s credit rating was downgraded by Fitch. Usually, economic uncertainties and dollar volatility can have significant impacts on the price and demand for gold as it is considered a safe-haven asset. The rating downgrade of the world’s largest economy tends investors to park their m...
Gold gained on Fitch downgrade US credit rating
Gold gained on Fitch downgrade US credit rating
Source: IANS
2/08/2023 3:42:31 PM
Indian OMCs` marketing segment to turn profitable from FY24: Fitch Fitch Ratings has said that Indian oil marketing companies' (OMCs) marketing segment to turn profitable from the financial year ending March 2024 (FY24) as crude oil prices fall to Fitch's assumption of $78.8 per barrel, following large losses in FY23 due to high crude prices and unchanged retail fuel prices. It said this should enable the OMCs to partly recoup the FY23 (April 2022 to March 2023) losses in first half of FY24, before the fall in crude prices in recent months is reflect...
Indian OMCs` marketing segment to turn profitable from FY24: Fitch
Indian OMCs` marketing segment to turn profitable from FY24: Fitch
Source: Accord Fintech
5/07/2023 1:45:27 PM
Rise in risk appetite may affect some Indian Banks` intrinsic credit profiles: Fitch Global rating agency Fitch in its latest report has said that a rise in risk appetite among Indian banks highlights the importance of assessing individual banks' ability to withstand expected and unexpected balance-sheet stress as part of the analysis of their intrinsic creditworthiness. Banks' loan growth over the financial year ended March 2023 (FY23) reached 15.4 per cent, the highest since FY12.  It said ‘we believe, this partly reflected pent-up credit demand follow...
Rise in risk appetite may affect some Indian Banks` intrinsic credit profiles: Fitch
Rise in risk appetite may affect some Indian Banks` intrinsic credit profiles: Fitch
Source: Accord Fintech
2/06/2023 11:32:50 AM
Fitch Ratings affirms India`s Long Term Foreign Currency Issuer Default Rating India's robust growth outlook, resilient external finances, higher gross domestic product (GDP) growth, improving financial sector and other factors enabled Fitch Ratings to affirm the country's Long Term Foreign Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook. According to Fitch, India's rating reflects strengths from a robust growth outlook compared with peers and resilient external finances, which have supported India in navigating the large exte...
Fitch Ratings affirms India`s Long Term Foreign Currency Issuer Default Rating
Fitch Ratings affirms India`s Long Term Foreign Currency Issuer Default Rating
Source: IANS
9/05/2023 9:52:58 AM
Indian corporates likely to see 10%-12% capex growth in FY24: Fitch The rising capital expenditure (capex) trend of Indian corporates is likely to continue and grow at 10%-12% a year during the next fiscal year to March 2024, Fitch Ratings said in a release on Tuesday. Fitch said capex was flat over FY19 to FY21 and grew 16% in FY22. The forecasts are for the 8 state owned enterprises and 21 privately held Fitch-rated corporates in the country. "We believe growth opportunities arising from India's supply-side policy steps in recent years, domes...
Indian corporates likely to see 10%-12% capex growth in FY24: Fitch
Indian corporates likely to see 10%-12% capex growth in FY24: Fitch
Source: Reuters
28/03/2023 3:54:04 PM
India bats for sovereign rating upgrade in review with global agencies  India is seeking an upgrade to its sovereign credit rating, currently at the lowest-possible investment grade, as the Asian nation believes its economic metrics have improved considerably since the pandemic, a senior government official said on Monday. The country's federal finance ministry met representatives from the top three rating agencies–Fitch Ratings, Moody’s Investors Service and S&P Global Ratings–after the government presented its annual budget on...
India bats for sovereign rating upgrade in review with global agencies
India bats for sovereign rating upgrade in review with global agencies
Source: Reuters
13/03/2023 3:57:04 PM
Sustained improvement in performance of Indian banks bodes well for sector's intrinsic risk profiles: Fitch Global rating agency Fitch has said a sustained improvement in the financial performance of Indian banks bodes well for the sector's intrinsic risk profiles. The pace of asset quality and profitability improvement has exceeded expectations, while capital buffers are broadly in line with the projections. It stated the sector's impaired-loan ratio declined to 4.5 per cent in the first nine months of financial year ended March 2023 (9MFY23), from 6 per cent at FY'22, adding, this was...
Sustained improvement in performance of Indian banks bodes well for sector's intrinsic risk profiles: Fitch
Sustained improvement in performance of Indian banks bodes well for sector's intrinsic risk profiles: Fitch
Source: Accord Fintech
22/02/2023 11:00:05 AM
Indian banks improving performance good for intrinsic creditworthiness : Fitch Credit rating agency Fitch Ratings on Tuesday said the pace of asset quality and profitability of Indian banks has exceeded its expectations. Fitch also said a sustained improvement in the financial performance of Indian banks bodes well for the sector's intrinsic risk profiles. The capital buffers are broadly in line with its projections, Fitch said. The sector's impaired-loan ratio declined to 4.5 per cent in the first nine months of the financial year ending March 2023 (9M...
Indian banks improving performance good for intrinsic creditworthiness : Fitch
Indian banks improving performance good for intrinsic creditworthiness : Fitch
Source: IANS
21/02/2023 12:44:54 PM
India Ratings revises outlook on microfinance sector to `improving` from `neutral` India Ratings in its latest report has said that microfinance players have already come out of the massive hit they took during the pandemic and are likely to report lower credit cost by the end of this fiscal, as growth momentum is on an upswing. It has revised the outlook on the microfinance sector to 'improving' from 'neutral' and has also maintained the stable rating outlook for FY24. It expects the sector to notch up high double-digit growth of 20-30 per cent, on impro...
India Ratings revises outlook on microfinance sector to `improving` from `neutral`
India Ratings revises outlook on microfinance sector to `improving` from `neutral`
Source: Accord Fintech
16/02/2023 11:14:55 AM
India's green bonds show policy focus on climate mitigation: Fitch Ratings The sovereign green bonds issued by India reflects the growing policy focus to scale up domestic financing capacity on climate mitigation and adaptation, said credit rating agency Fitch Ratings on Friday. "We expect the bonds to be held largely by domestic investors, incentivised by the national climate policy to mobilize financing resources for green activities," Fitch Ratings added. The first issuance in January 2023 comprised two tranches, with five-and 10-year maturities, ...
India's green bonds show policy focus on climate mitigation: Fitch Ratings
India's green bonds show policy focus on climate mitigation: Fitch Ratings
Source: IANS
10/02/2023 12:57:17 PM
Domestic banking sector`s average NIMs likely to contract by about 10 bps in FY24: Fitch Ratings Global rating agency Fitch Ratings in its latest report has said that banks will face margin pressure next fiscal (FY24) as they increase the deposit rates to attract funds to support sustained high loan growth. It expects the domestic banking sector's average Net Interest Margins (NIMs) to slightly contract by about 10 basis points (bps) in FY24 to 3.45 per cent, following a 15 bps increase in FY23 to 3.55 per cent, in a base case scenario, but remain well above that during FY17-FY22 ave...
Domestic banking sector`s average NIMs likely to contract by about 10 bps in FY24: Fitch Ratings
Domestic banking sector`s average NIMs likely to contract by about 10 bps in FY24: Fitch Ratings
Source: Accord Fintech
7/02/2023 12:47:29 PM
Indian banks` exposure to Adani group `insufficient` to pose credit risk - Fitch Rating The exposure of Indian banks to the embattled Adani Group is "insufficient in itself" to present a substantial risk to the credit profiles of these lenders, Fitch Ratings said in a note on Tuesday. Investors have been worried about various banks' exposure to the group ever since late January when U.S.-based short-seller Hindenburg Research alleged improper use of offshore tax havens and stock manipulation by the conglomerate. The group has rejected the criticism and denied an...
Indian banks` exposure to Adani group `insufficient` to pose credit risk - Fitch Rating
Indian banks` exposure to Adani group `insufficient` to pose credit risk - Fitch Rating
Source: Reuters
7/02/2023 11:31:21 AM
Indian banks' switch to International Financial Reporting Standards accounting norms unlikely to hit rating  The benefits of Indian banks' switching to the International Financial Reporting Standards (IFRS) accounting rules will outweigh any short-term impact on capital levels and is unlikely to drive rating changes, said credit rating agency Fitch. While the Reserve Bank of India has not yet set a deadline to shift from the Generally Accepted Accounting Principles (GAAP) standard, Fitch said lenders have been expecting the move and should be able to recalibrate to final guidelines quic...
Indian banks' switch to International Financial Reporting Standards accounting norms unlikely to hit rating
Indian banks' switch to International Financial Reporting Standards accounting norms unlikely to hit rating
Source: Reuters
20/01/2023 3:36:35 PM
TCS revenue growth to slowdown in FY24: Fitch Ratings Credit rating agency Fitch Ratings on Thursday said Tata Consultancy Services Limited's (TCS) revenue growth is likely to slow in the financial year ending March 2024 (FY24) amid the global economic slowdown, after strong 3QFY23 results. TCS reported 19 per cent year-on-year (yoy) revenue growth in 3QFY23 and 50bp quarter-on-quarter (qoq) expansion in the EBITDA margin, reflecting continued growth and the company's ability to pass on higher costs to customers, Fitch said. Fitch ...
TCS revenue growth to slowdown in FY24: Fitch Ratings
TCS revenue growth to slowdown in FY24: Fitch Ratings
Source: IANS
12/01/2023 2:08:53 PM
Price volatility, infrastructure constraints to challenge India's target of increasing share of natural gas: Fitch Fitch Ratings in its latest report has said that price volatility and infrastructure constraints will challenge India's target of increasing the share of natural gas in its primary energy to 15 per cent by 2030 from 6 per cent in 2017. It said progress on the target has been minimal - 6 per cent share in 2021 - as natural gas growth has not managed to outpace total energy growth. It noted that this is despite resilient demand from city gas distribution (CGD) networks and rising domestic p...
Price volatility, infrastructure constraints to challenge India's target of increasing share of natural gas: Fitch
Price volatility, infrastructure constraints to challenge India's target of increasing share of natural gas: Fitch
Source: Accord Fintech
11/01/2023 11:34:28 AM
Fitch Ratings affirms India at `BBB-`with stable outlook Fitch Ratings on Tuesday affirmed India's ratings at 'BBB-' with a stable outlook. Fitch said it expects the general government deficit to fall slightly to 9.6% of GDP in full-year 2023 from 9.8% in full-year 2022. "India is somewhat insulated from the gloomy global outlook in 2023, given its modest reliance on external demand," Fitch said, adding, "We expect declining exports, heightened uncertainty and higher interest rates to slow growth to 6.2% in FY24.&qu...
Fitch Ratings affirms India at `BBB-`with stable outlook
Fitch Ratings affirms India at `BBB-`with stable outlook
Source: Reuters
21/12/2022 9:26:29 AM
Tax on windfall profits made by oil companies to be phased out in 2023: Fitch Ratings Fitch Ratings in its APAC Oil & Gas Outlook 2023 has said that the five-month-old tax on windfall profits made by oil companies will be phased out in 2023 on the back of moderating oil rates. On July 1, 2022, the government had levied a new tax on domestically-produced crude oil as well as on the export of petrol, diesel and jet fuel (ATF) to take away windfall gains accruing to oil companies from a global surge in energy prices following Russian invasion of Ukraine. The tax rates are rev...
Tax on windfall profits made by oil companies to be phased out in 2023: Fitch Ratings
Tax on windfall profits made by oil companies to be phased out in 2023: Fitch Ratings
Source: Accord Fintech
7/12/2022 12:32:56 PM
Fitch retains India growth forecast at 7% for current fiscal Given the stronger-than-expected outturn in the July-September quarter with GDP growth at 6.3 per cent, Fitch Ratings has retained India's economic growth forecast at 7 per cent for the current fiscal (FY23), but cut projections for the next two financial years saying the country is not impervious to global developments. In its December edition of the Global Economic Outlook, Fitch projected India's GDP to grow at 7 per cent in the current fiscal, at a slower rate of 6.2 per cent in 2...
Fitch retains India growth forecast at 7% for current fiscal
Fitch retains India growth forecast at 7% for current fiscal
Source: Accord Fintech
7/12/2022 12:00:16 PM
Fitch Ratings retains India`s growth outlook at 7% for current fiscal Fitch Ratings has retained the economic growth forecast for India at 7 per cent for the current fiscal in its global economic outlook. The rating agency on Tuesday observed that India is likely to emerge as among the fastest growing emerging markets in the current fiscal. At the same time though, the agency has slashed the growth projections for the next two fiscals, observing that while the Indian economy is insulated from global shocks, it is not immune to global developments. In i...
Fitch Ratings retains India`s growth outlook at 7% for current fiscal
Fitch Ratings retains India`s growth outlook at 7% for current fiscal
Source: IANS
6/12/2022 5:46:38 PM
Credit growth likely to remain robust India's bank credit growth will accelerate in the financial year ending March 2023 (FY23), despite the effects of higher interest rates, says Fitch Ratings. Strong loan growth should benefit net revenue, particularly as it will be coupled with wider net interest margins. However, it will put pressure on Core Equity Tier 1 ratios (CET1) should credit growth exceed Fitch's expectations, limiting buffers to absorb potential future losses. Fitch Ratings sees bank credit expanding by...
Credit growth likely to remain robust
Credit growth likely to remain robust
Source: IANS
29/11/2022 9:41:05 AM
Renewable power generators can benefit from Open Access framework  Indian power generators in general and renewable companies in particular will benefit from the counterparty shift to commercial and industrial (C&I) customers from weak state-owned distribution companies, said Fitch Ratings. The power projects will see higher utilisation and tariffs, and timely clearance of dues, the credit rating agency said. The Indian government has simplified rules governing the Open Access (OA) framework for the procurement and sales of electricity. Ho...
Renewable power generators can benefit from Open Access framework
Renewable power generators can benefit from Open Access framework
Source: IANS
3/11/2022 10:17:53 AM
Indian commercial vehicle sector to log volume growth The Indian commercial vehicle (CV) industry is set to log growth for the next couple of years with economy reviving and Covid-19 pandemic fading away, said experts. The CV sector will register mid-to-high teens over the next couple of years, said Fitch Ratings in a report. The sector recovered 26 per cent in the fiscal 2021-22 after being hit by Covid-19. During the current fiscal, the CV majors are logging good growth driven mostly by goods carriers while sales of buses is also pick...
Indian commercial vehicle sector to log volume growth
Indian commercial vehicle sector to log volume growth
Source: IANS
2/11/2022 3:07:33 PM
India`s external buffers sufficient to cushion risks associated with rapid monetary policy tightening in US: Fitch Fitch Ratings in its latest report has said that India's external buffers are sufficient to cushion risks associated with rapid monetary policy tightening in the US and high global commodity prices, and risk to the sovereign rating from external pressure is limited. It expects the country's foreign exchange reserves to remain robust and current-account deficit (CAD) to be contained at a sustainable level and reach 3.4 percent of GDP this fiscal year, up from 1.2 percent in the last fi...
India`s external buffers sufficient to cushion risks associated with rapid monetary policy tightening in US: Fitch
India`s external buffers sufficient to cushion risks associated with rapid monetary policy tightening in US: Fitch
Source: Accord Fintech
20/10/2022 3:40:30 PM
Fitch lowers India's FY23 GDP growth forecast to 7% from 7.8% Fitch expects the Indian economy to slow down and said in a statement released late on Wednesday that it would cut the country's gross domestic product growth forecast for the current fiscal year through March 2023 to 7% from 7.8%. It also projected a further slowdown in growth to 6.7% in FY24 from its earlier estimate of 7.4%. "We expect the economy to slow given the global economic backdrop, elevated inflation and tighter monetary policy," the rating agency said. &quo...
Fitch lowers India's FY23 GDP growth forecast to 7% from 7.8%
Fitch lowers India's FY23 GDP growth forecast to 7% from 7.8%
Source: Reuters
15/09/2022 8:54:00 AM
Higher interest rates could make it harder for Indian banks to raise fresh capital: Fitch Ratings Fitch Ratings has said mounting repayment pressure for some borrowers, particularly micro, small and medium-sized enterprises, amid India's interest rate hikes will test banks' loan underwriting quality. However, it stated asset-quality risks from higher rates should generally be moderate for most banks. It underlined that higher rates will also affect securities valuations and could make it harder for banks to raise fresh capital, particularly at state banks, although wider net in...
Higher interest rates could make it harder for Indian banks to raise fresh capital: Fitch Ratings
Higher interest rates could make it harder for Indian banks to raise fresh capital: Fitch Ratings
Source: Accord Fintech
15/07/2022 10:55:44 AM
Improved economic activity to support demand for steel, cement & chemicals in India: Fitch Ratings Fitch Ratings forecast strong medium-term growth to support the demand for India's steel, cement and chemicals sectors, with improved economic activity boosting power and petroleum product sales. The credit rating agency also said the adequate balance sheet buffers and strengthening demand should mitigate pricing and cost pressure at most rated Indian corporates. According to Fitch, the steel prices in the medium-term are likely to moderate due to the industry's demand and suppl...
Improved economic activity to support demand for steel, cement & chemicals in India: Fitch Ratings
Improved economic activity to support demand for steel, cement & chemicals in India: Fitch Ratings
Source: IANS
5/07/2022 11:03:09 AM
Indian non-banking finance sector's profit to be stable: Fitch Ratings Improving credit growth, decreasing asset-quality risks will be the character of Indian non-banking financial institutions (NBFI) during FY23, said Fitch Ratings on Monday. According to the credit rating agency, this status should support NBFI's performance amid a broadening economic recovery, although certain segments could still be vulnerable to higher-than-expected inflation. Fitch revised the Outlook on India's 'BBB-' sovereign rating to Stable from Negative in June ...
Indian non-banking finance sector's profit to be stable: Fitch Ratings
Indian non-banking finance sector's profit to be stable: Fitch Ratings
Source: IANS
27/06/2022 1:19:30 PM
India's cement demand to rise by mid-to-high single digits over medium term: Fitch Ratings Credit rating agency Fitch Ratings has said it believes a sustained gross domestic product (GDP) growth, the government's thrust on infrastructure and affordable housing, and a revival in corporate capex, will underpin growth of the cement sector. It expects India's cement demand to rise by mid-to-high single digits over the medium term after an estimated mid-teen rebound in the financial year ended March 2022 (FY22). However, it stated ‘Industrywide utilisation will drop tow...
India's cement demand to rise by mid-to-high single digits over medium term: Fitch Ratings
India's cement demand to rise by mid-to-high single digits over medium term: Fitch Ratings
Source: Accord Fintech
16/06/2022 10:29:45 AM
Cement sector's capacity utilisation to drop to 65%: Fitch Ratings Credit rating agency Fitch Ratings said it believes a sustained gross domestic product (GDP) growth, the government's thrust on infrastructure and affordable housing, and a revival in corporate capex, will underpin growth of the cement sector. The rating agency expects India's cement demand to rise by mid-to-high single digits over the medium term after an estimated mid-teen rebound in the financial year ended March 2022 (FY22). Nonetheless, industrywide utilisation will drop to...
Cement sector's capacity utilisation to drop to 65%: Fitch Ratings
Cement sector's capacity utilisation to drop to 65%: Fitch Ratings
Source: IANS
15/06/2022 12:37:56 PM
RBI likely to raise interest rates to 5.9% by December 2022: Fitch Ratings Fitch Ratings in its update to Global Economic Outlook has said the Reserve Bank of India (RBI) may raise interest rates further to 5.9 per cent by December 2022, on deteriorating inflation outlook. It stated India’s economy faces a worsening external environment, elevated commodity prices, and tighter global monetary policy. Last month in an unscheduled policy announcement, the Reserve Bank of India (RBI) raised rates by 40 basis points to 4.4 per cent, and subsequently to 4.9 per cent...
RBI likely to raise interest rates to 5.9% by December 2022: Fitch Ratings
RBI likely to raise interest rates to 5.9% by December 2022: Fitch Ratings
Source: Reuters
15/06/2022 10:43:33 AM
Fitch Ratings revises outlook on India's sovereign rating to stable from negative Keeping the rating unchanged at 'BBB-', credit rating agency, Fitch Ratings in its latest report has revised the outlook on India's sovereign rating to Stable from Negative as downside risks to medium-term growth have diminished due to India's rapid economic recovery and easing financial sector weaknesses, despite near-term headwinds from the global commodity price shock. The rating agency, however, cut the economic growth forecast to 7.8 percent for the current fiscal (Apr...
Fitch Ratings revises outlook on India's sovereign rating to stable from negative
Fitch Ratings revises outlook on India's sovereign rating to stable from negative
Source: Accord Fintech
10/06/2022 1:53:10 PM
OMCs might require to further raise fuel prices: Fitch Ratings Further hikes in retail fuel prices may be required for state-run oil marketing companies' marketing margins to reach pre-November levels, Fitch Ratings said on Tuesday. Notably, the November 2021-March 2022 was one of the longest retail price freezes in recent years, despite reference crude oil prices increasing by nearly $27 per barrel (or Rs 13 per litre) during the period. The freeze may lead to marketing losses for the oil marketing companies (OMCs) in the fourth quarter of the...
OMCs might require to further raise fuel prices: Fitch Ratings
OMCs might require to further raise fuel prices: Fitch Ratings
Source: IANS
19/04/2022 2:39:17 PM
HDFC entities merger can trigger spate of M&As in banking sector: Fitch The proposed merger of HDFC entities and the acquisition of Citibank India's consumer business by Axis Bank can trigger M&A trend in the banking sector, said rating agency Fitch Ratings. According to it, the merger between HDFC Bank and its shareholder HDFC may have long-term implications for the nation's banking and non-bank financial institution (NBFI) sectors. Besides, it said that the proposed merger could redefine the competitive landscape for banks, and increase the pr...
HDFC entities merger can trigger spate of M&As in banking sector: Fitch
HDFC entities merger can trigger spate of M&As in banking sector: Fitch
Source: IANS
13/04/2022 9:12:11 AM
'Challenges in increasing supply will likely keep electricity prices high' Rise in summer time electricity demand, as well as strong economic growth and challenges in increasing power generation, will likely keep short-term electricity rates high in the near term, said Fitch Ratings. Traditionally, electricity demand in India peaks during the warmer months of April to August, subject to weather patterns. "We expect monthly electricity demand in 2022 to peak at around 132 billion kWh, 15 per cent higher than the average monthly demand in 1Q22, similar to 2...
'Challenges in increasing supply will likely keep electricity prices high'
'Challenges in increasing supply will likely keep electricity prices high'
Source: IANS
8/04/2022 8:55:44 AM
Fitch slashes India's growth forecast for next fiscal to 8.5% from 10.3% Rating agency Fitch in its Global economic Outlook-March 2022 has slashed India's growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent.  The agency slashed India's growth forecast on account of sharply higher energy prices. It mentioned that the post-COVID-19 pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation. The war in Ukraine and economic sanctions on Russia have put global energy supplies...
Fitch slashes India's growth forecast for next fiscal to 8.5% from 10.3%
Fitch slashes India's growth forecast for next fiscal to 8.5% from 10.3%
Source: IANS
22/03/2022 10:28:34 AM
Russia's credit ratings downgraded to 'junk' by Moody's and Fitch Russias credit ratings have been downgraded deep into the 'junk' territory by Moodys Investors Service and Fitch Ratings, with the duo highlighting the economic toll inflicted by wide-ranging sanctions and rising doubts about whether Moscow will honour its debts, The Wall Street Journal reported. "The severity of international sanctions in response to Russia's military invasion of Ukraine has heightened macro-financial stability risks, represents a huge shock to Russia'...
Russia's credit ratings downgraded to 'junk' by Moody's and Fitch
Russia's credit ratings downgraded to 'junk' by Moody's and Fitch
Source: IANS
4/03/2022 9:28:24 AM
Russia's credit ratings downgraded to 'junk' by Moody's and Fitch Russias credit ratings have been downgraded deep into the 'junk' territory by Moodys Investors Service and Fitch Ratings, with the duo highlighting the economic toll inflicted by wide-ranging sanctions and rising doubts about whether Moscow will honour its debts, The Wall Street Journal reported. "The severity of international sanctions in response to Russia's military invasion of Ukraine has heightened macro-financial stability risks, represents a huge shock to Russia'...
Russia's credit ratings downgraded to 'junk' by Moody's and Fitch
Russia's credit ratings downgraded to 'junk' by Moody's and Fitch
Source: IANS
3/03/2022 7:59:21 PM
Higher deficit, lack of clarity on fiscal consolidation add risks to lowering debt-to-GDP ratio: Fitch Ratings Fitch Ratings has said higher fiscal deficit and lack of clarity on consolidation plans in the Budget add risks to its projection of lowering of India's debt-to-gross domestic product (GDP) ratio. The degree to which planned higher capex (capital expenditure) supports GDP growth and offsets these risks is an important consideration for the sovereign rating. Risks around the sustainability of the downward debt trajectory were a key factor behind Fitch's decision to maintain a 'nega...
Higher deficit, lack of clarity on fiscal consolidation add risks to lowering debt-to-GDP ratio: Fitch Ratings
Higher deficit, lack of clarity on fiscal consolidation add risks to lowering debt-to-GDP ratio: Fitch Ratings
Source: Accord Fintech
8/02/2022 10:06:41 AM
India's FY23 budget points to slower fiscal deficit reduction: Fitch Ratings agency Fitch on Monday said that India's Budget FY23 points to a slower fiscal deficit reduction. The Central government plans to reduce the fiscal deficit to 4.5 per cent of the GDP by FY26.In the Union Budget, the Centre has revised the fiscal deficit to 6.9 per cent of the GDP for FY22. The deficit target for FY23 has been kept at 6.4 per cent of the GDP. "The higher deficits and continued lack of clarity on medium-term consolidation plans in India's latest budge...
India's FY23 budget points to slower fiscal deficit reduction: Fitch
India's FY23 budget points to slower fiscal deficit reduction: Fitch
Source: IANS
7/02/2022 7:19:40 PM
India's PSBs expected to source capital to be competitive India's state banks are expected to source their own fresh capital to compete with the country's much better-capitalised private banks, Fitch Ratings said on Friday. Accordingly, the ratings agency said that the state is inclined to place the burden of raising growth capital on its banks, as indicated by a lack of capital allocation for state banks in the government's latest budget. "This lack of capital allocation arguably indicates the government's belief that ban...
India's PSBs expected to source capital to be competitive
India's PSBs expected to source capital to be competitive
Source: IANS
4/02/2022 2:48:17 PM
Budget FY23 disinvestment target more achievable: Fitch Ratings India's FY23 budgettary divestment target is "more achievable than in last year's budget", said Fitch Ratings on Wednesday. The Centre has drastically lowered the divestment target for fiscal 2022-23 to Rs 65,000 crore. According to the budget FY23 revenue document's 'Miscellaneous Capital Receipts', the current fiscal FY22's target was revised to Rs 78,000 crore from the budget estimates of Rs 1.75 lakh crore. In his preliminary comments on India's...
Budget FY23 disinvestment target more achievable: Fitch Ratings
Budget FY23 disinvestment target more achievable: Fitch Ratings
Source: IANS
3/02/2022 10:46:09 AM
India's recovery in petroleum product demand to continue: Fitch  India's petroleum product demand is expected to remain moderately strong in Q4FY22, as the easing of Covid-19 pandemic-led restrictions boosts economic activity, Fitch Ratings said on Monday. The recovery, it said, should support higher throughput at most rated oil marketing companies. "We expect strong prices to improve the financial profiles of upstream oil and gas companies," the ratings agency said. "We forecast capex to stay high as oil marketing compani...
India's recovery in petroleum product demand to continue: Fitch
India's recovery in petroleum product demand to continue: Fitch
Source: IANS
24/01/2022 7:29:35 PM