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Monthly Debt Market Update, September 2023: CareEdge Ratings Global Overview US • The 10-year US Treasury yield retreated from multi-year highs seen over the past month after easing inflation, downward revision of Q2 GDP and rising unemployment lowered bets of a potential Fed rate hike at the September meeting. More notably, bond markets ignored hawkish comments by Fed Chair Jerome Powell at the Jackson Hole Symposium. Despite noting that progress on inflation has been made, Powell indicated that further rate increases were still on the tabl...
Monthly Debt Market Update, September 2023: CareEdge Ratings
Monthly Debt Market Update, September 2023: CareEdge Ratings
Source: PR Agency
9/09/2023 9:44:32 AM
Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating Synopsis * Gross bank credit offtake witnessed an accelerated rise of 19.7% year-on-year (y-o-y) in July 2023. The growth was driven by services and personal loans. However, the reported July 2023 data includes the impact of the merger of HDFC with HDFC Bank and, hence is not directly comparable. Adjusted for the merger, the non-food credit systemic growth stands at 14.8% y-o-y and -1.4% m-o-m. * Personal loans reported a sustained growth at 31.7% y-o-y in July 2023 compared to 18.7% a ...
Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating
Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating
Source: CareEdge Ratings
7/09/2023 5:21:51 PM
India`s rural demand vulnerable owing to higher food inflation, lower income: CareEdge Ratings CareEdge Ratings in its latest report has said the India’s rural demand is vulnerable and could be further impacted by the ‘dual blows’ of lower income and high food inflation owing to an erratic monsoon. It stated the upcoming festivities may lead to a rise in consumption demand but such an increase will depend on the extent of the skewed monsoon impact. It mentioned monsoon has been deficient so far and there is no certainty if the situation will improve. Consumption, i...
India`s rural demand vulnerable owing to higher food inflation, lower income: CareEdge Ratings
India`s rural demand vulnerable owing to higher food inflation, lower income: CareEdge Ratings
Source: Accord Fintech
31/08/2023 11:34:15 AM
Erratic Monsoon, Food Prices, and Rural Demand By Care Edge Ratings Agriculture and allied sector, which contributes around 18% to the national output and provides livelihood to more than half of India’s population, is heavily dependent on the monsoon. The monsoon has a far-reaching effect on domestic macroeconomic conditions and directly or indirectly impacts domestic inflation, rural income, consumption demand, trade, and agricultural productivity. The dependency on the monsoon is further underlined by the fact that only about 57% of the farm area is ...
Erratic Monsoon, Food Prices, and Rural Demand By Care Edge Ratings
Erratic Monsoon, Food Prices, and Rural Demand By Care Edge Ratings
Source: Care Edge Ratings
30/08/2023 11:13:42 AM
Banks` Margin Trajectory Sees Strain in Q1 as Deposits Cost Rise Sequentially By Care Edge Rating Synopsis • Net Interest Income (NII) of Scheduled Commercial Banks (SCBs) grew by 26.5% year-on-year (y-o-y) to Rs. 1.84 lakh crore in Q1FY24 due to healthy loan growth and a higher yield on advances over the year-ago period. • The Net Interest Margin (NIM) of SCBs witnessed a year-on-year improvement of 36 basis points (bps), reaching 3.27% in Q1FY24. This enhancement can be attributed to the faster repricing of loans, whereas deposit rates have not yet reflected the increase...
Banks` Margin Trajectory Sees Strain in Q1 as Deposits Cost Rise Sequentially By Care Edge Rating
Banks` Margin Trajectory Sees Strain in Q1 as Deposits Cost Rise Sequentially By Care Edge Rating
Source: CareEdge Ratings
23/08/2023 5:49:20 PM
Economic Pathway - August 2023 By CareEdge Ratings US: Present Hiking Cycle the Fastest, but Liquidity Remains Comfortable • Current rate hiking cycle had the fastest pace of policy tightening and the highest quantum of the rate hike since the 1990s. • However, Quantitative Tightening (QT) has not been very aggressive, with the Federal Reserve balance sheet down~USD 757 bn from its peak. • Even though the cost of money has risen, comfortable liquidity conditions continue to support the US economy. • The mar...
Economic Pathway - August 2023 By CareEdge Ratings
Economic Pathway - August 2023 By CareEdge Ratings
Source: CareEdge Ratings
23/08/2023 5:26:21 PM
Microfinance Industry Beats Covid Blues, Likely to Grow by 28% in FY24 By Care Edge Overview The Microfinance industry (MFI) experienced a growth spurt in FY23, expanding at a rate of 37% Y-o-Y due to a favourable macroeconomic climate and renewed demand, which has led to a surge in disbursements over the past few quarters. Consequently, NBFC-MFIs have surpassed banks in the overall microfinancing landscape, constituting approximately 40% of the total outstanding microfinance loans as of March 31, 2023, compared to 34% for banks. CareEdge Ratings anticipates growth mom...
Microfinance Industry Beats Covid Blues, Likely to Grow by 28% in FY24 By Care Edge
Microfinance Industry Beats Covid Blues, Likely to Grow by 28% in FY24 By Care Edge
Source: Care Edge Ratings
22/08/2023 5:38:50 PM
Bajaj Finance Fixed Deposits cross Rs 50,000 crore Bajaj Finance Limited, one of India’s leading and diversified Non-Banking Financial Company, and part of Bajaj Finserv, today said its Fixed Deposits book had crossed a milestone of Rs. 50,000 crore. Bajaj Finance has half a million depositors, with each depositor having placed 2.87 deposits, totalling 1.4 million deposits. Bajaj Finance has the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings, A1+ for its short-te...
Bajaj Finance Fixed Deposits cross Rs 50,000 crore
Bajaj Finance Fixed Deposits cross Rs 50,000 crore
Source: PR Agency
18/08/2023 6:25:18 PM
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings Care Ratings in its latest report has said that banks' lending to non-banking finance companies (NBFCs) rose by a robust 35.1 per cent to Rs 14.2 lakh crore in June 2023, indicating non-banking finance firms' decreased reliance on international borrowings. This also pushed up NBFCs' share in overall credit from 8.5 per cent in June 2022 to 9.9 per cent in the reporting month.  According to the report, mutual funds' debt exposure to NBFCs, including through commercial p...
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings
Source: Accord Fintech
17/08/2023 12:10:28 PM
Credit-Deposit Ratio Falls Marginally, HDFC Merger Pushes Credit Growth By CareEdge Ratings Synopsis • Credit offtake continued to show robust growth, increasing by 19.7% year on year (y-o-y) to reach Rs. 148.0 lakh crore for the fortnight ending July 28, 2023. This surge continues to be primarily driven by the impact of HDFC’s merger with HDFC Bank, as well as growth in personal loans and NBFCs. Meanwhile, if merger impact is excluded, credit grew at a lower rate of 14.7% y-o-y for the same fortnight. • Deposits too witnessed healthy growth, increasing by 12.9...
Credit-Deposit Ratio Falls Marginally, HDFC Merger Pushes Credit Growth By CareEdge Ratings
Credit-Deposit Ratio Falls Marginally, HDFC Merger Pushes Credit Growth By CareEdge Ratings
Source: CareEdge Ratings
15/08/2023 9:47:47 AM
Credit Offtake Stays Robust at 20.2% as HDFC Merger Boosts Growth By Care Edge Synopsis Credit offtake continued to show robust growth, increasing by 20.2% year on year (y-o-y) to reach Rs. 147.6 lakh crore for the fortnight ending July 14, 2023. This surge was primarily driven by the impact of HDFC’s merger with HDFC Bank, which took effect in July 2023, as well as growth in personal loans and NBFCs. However, if we exclude the impact of the merger, credit offtake grew at a slightly lower rate of 14.4% y-o-y in the same fortnight (as reported on July 14, 2023)....
Credit Offtake Stays Robust at 20.2% as HDFC Merger Boosts Growth By Care Edge
Credit Offtake Stays Robust at 20.2% as HDFC Merger Boosts Growth By Care Edge
Source: PR Agency
31/07/2023 5:53:20 PM
Reserve Bank of India won`t revise repo rate, decision to be unanimous: Economists Despite food inflation and existance of continued geo-political and climate risks, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) will not change the interest rate from the current 6.5 per cent, economists have saif. They also said the benchmark repo rate will remain constant till the last quarter of FY24. Predicting that RBI will not change the repo rate, Bank of Baroda’s Chief Economist Madan Sabnavis told IANS: “The decision will be unanimous. Inf...
Reserve Bank of India won`t revise repo rate, decision to be unanimous: Economists
Reserve Bank of India won`t revise repo rate, decision to be unanimous: Economists
Source: IANS
31/07/2023 3:55:46 PM
Esaf Small Finance Bank Scores High In ESG Assessment ESAF Small Finance Bank Ltd (“ESAF Bank” or “Bank“) has achieved an impressive score of 71 in an ESG assessment conducted by CareEdge Research. By surpassing the industry average of 59.8 the Bank has showcased that its environmental, social and governance practices are set at a higher standard than the industry average. Ever since its establishment, the Bank has embraced the concept of ESG at its core. In terms of the environmental pillar, the Ba...
Esaf Small Finance Bank Scores High In ESG Assessment
Esaf Small Finance Bank Scores High In ESG Assessment
Source: PR Agency
19/07/2023 4:57:53 PM
Personal loan demand drove credit growth in Q4FY23 Driven by personal loan demand, the credit offtake from banks rose by 16.3 per cent year-on-year (y-o-y) while the deposits grew slower at 10.2 per cent during the last quarter of FY23, Credit Rating agency CARE Ratings said in a report. According to the credit rating agency, the growth of credit over deposit can be attributed to the base effect as earlier in the pandemic, deposit growth had outpaced credit. The personal loans segment has remained the largest segment, along with non-ban...
Personal loan demand drove credit growth in Q4FY23
Personal loan demand drove credit growth in Q4FY23
Source: IANS
19/07/2023 4:00:26 PM
Credit Growth Stays Robust in Q1, Deposit Growth Hits 6-Year High By Care Edge Ratings Synopsis • Credit offtake continued to witness elevated growth at 16.2% year on year (y-o-y) to reach Rs. 143.9 lakh crore for the fortnight ending June 30, 2023, driven by personal loans, NBFCs and agriculture & allied activities. The outlook for bank credit offtake continued to be positive due to economic expansion, rise in capital expenditure, implementation of the Production Linked Incentive (PLI) scheme, and retail credit push. However, it is still expected to moderate from 1...
Credit Growth Stays Robust in Q1, Deposit Growth Hits 6-Year High By Care Edge Ratings
Credit Growth Stays Robust in Q1, Deposit Growth Hits 6-Year High By Care Edge Ratings
Source: PR Agency
18/07/2023 10:36:07 AM
New Business Premium in June Rises 18.3%, while Q1FY24 New Business Premium of Life Insurers Stays Flat By Care Edge Overview The first-year premium numbers in June 2023 rose by 18.3% vs. a decline of 4.1% in May 2023 and 30% in April 2023 and a 4.1% growth reported in June 2022. This movement can be attributed to steady growth in private sector companies and a recovery in single premiums more specifically to LIC, which partially offset the new tax regime, and high momentum in March 2023. The private insurance companies continue to extend their lead in the individual non-single premium segment. Figure...
New Business Premium in June Rises 18.3%, while Q1FY24 New Business Premium of Life Insurers Stays Flat By Care Edge
New Business Premium in June Rises 18.3%, while Q1FY24 New Business Premium of Life Insurers Stays Flat By Care Edge
Source: PR Agency
12/07/2023 3:36:19 PM
Divergence Appears as Fresh Lending Rate Rises, Fresh Deposit Rate Falls By Care Edge Ratings Overview * In May 2023, fresh lending rates rose while deposit rates decreased. Meanwhile, rates on outstanding business continued to climb. *The weighted average lending rate (WALR) on fresh rupee loans of SCBs increased by 19 basis points (bps) from 9.08% in April 2023 to 9.27% in May 2023 and the WALR on outstanding rupee loans of SCBs increased by 2 bps from 9.76% in April 2023 to 9.78% in May 2023. * The weighted average domestic term deposit rate (WADTDR) on fresh rupee term de...
Divergence Appears as Fresh Lending Rate Rises, Fresh Deposit Rate Falls By Care Edge Ratings
Divergence Appears as Fresh Lending Rate Rises, Fresh Deposit Rate Falls By Care Edge Ratings
Source: PR Agency
10/07/2023 2:34:27 PM
Banks` net interest margin grows 46 bps to 3.3% in Q4FY23: Care Ratings Care Ratings in its latest report has said that banks' net interest margin (NIM), a key profitability gauge, grew 46 basis points (bps) to 3.3 per cent in the January-March quarter (Q4FY23), driven by slower deposit rate resetting. This has helped lenders register a 29.5 per cent increase in their net interest income during the period. Net interest income (NII), which is the money that banks earn from lending and paying to depositors, rose to Rs 1.83 lakh crore in Q4FY23 due to healthy lo...
Banks` net interest margin grows 46 bps to 3.3% in Q4FY23: Care Ratings
Banks` net interest margin grows 46 bps to 3.3% in Q4FY23: Care Ratings
Source: Accord Fintech
3/07/2023 12:54:49 PM
Number of cases under IBC gone up by 24% in Q4FY23: CARE Ratings The number of insolvency cases referred under the Insolvency and Bankruptcy Code (IBC) has gone up by 24 per cent in Q4FY23 after a slowdown in FY21 and FY22, said CARE Ratings. According to the credit rating agency, the distribution of cases across sectors continues to remain broadly similar, compared to earlier periods given the extended resolution timelines. In a report, CARE Ratings said the overall recovery rate till Q4FY23 was 31.82 per cent implying a haircut of approximately 68 ...
Number of cases under IBC gone up by 24% in Q4FY23: CARE Ratings
Number of cases under IBC gone up by 24% in Q4FY23: CARE Ratings
Source: IANS
16/05/2023 2:50:22 PM
Interest on bank deposits rising fast than on loans, to impact NIM: CARE Ratings With demand for credit growing, banks are increasing their lending rates and also the deposit rates to mobilise funds to meet the borrowers' demands. According to CARE Ratings report, the deposit rates are rising faster than lending rates and going forward it may impact the banks net interest margin (NIM). Further, the rates on fresh business have risen faster when compared to rates on outstanding business. The weighted average lending rate (WALR) on fresh rupee loans of schedule...
Interest on bank deposits rising fast than on loans, to impact NIM: CARE Ratings
Interest on bank deposits rising fast than on loans, to impact NIM: CARE Ratings
Source: IANS
3/05/2023 9:09:14 AM
Interest on bank deposits rising fast than on loans, to impact NIM: CARE Ratings With demand for credit growing, banks are increasing their lending rates and also the deposit rates to mobilise funds to meet the borrowers' demands. According to CARE Ratings report, the deposit rates are rising faster than lending rates and going forward it may impact the banks net interest margin (NIM). Further, the rates on fresh business have risen faster when compared to rates on outstanding business. The weighted average lending rate (WALR) on fresh rupee loans of schedule...
Interest on bank deposits rising fast than on loans, to impact NIM: CARE Ratings
Interest on bank deposits rising fast than on loans, to impact NIM: CARE Ratings
Source: IANS
2/05/2023 6:48:17 PM
`Diversified Indian rural economy may not be impacted by below normal monsoon`  Owing to India's rural economy diversified into the non-farm sectors, the overall impact on rural demand and gross domestic product (GDP) may not be large in the case of a below normal southwest monsoon, said CARE Ratings. In the report 'El Nino & Its Impact on Indian Economy', CARE Ratings said the possibility of a below-normal monsoon this year hinges on a combination of several factors such as the timing and intensity of El Nino and the strength of positive Indian ...
`Diversified Indian rural economy may not be impacted by below normal monsoon`
`Diversified Indian rural economy may not be impacted by below normal monsoon`
Source: IANS
29/04/2023 9:39:32 AM
Retail loan securitisations jump 56% to Rs 1.76 lakh crore in FY23: Care Ratings Care Ratings in its latest report has said that retail loan securitisations jumped a robust 56 per cent to Rs 1.76 lakh crore in the just concluded fiscal 2023, while that of wholesale rose to around Rs 6,600 crore, coming out of the pandemic blues finally. The agency said the secondary market for standard retail assets has seen a robust growth of 56 per cent in FY23, reflecting the resilient retail asset pools in the secondary market as well as the preference of banks to grow their retail...
Retail loan securitisations jump 56% to Rs 1.76 lakh crore in FY23: Care Ratings
Retail loan securitisations jump 56% to Rs 1.76 lakh crore in FY23: Care Ratings
Source: Accord Fintech
11/04/2023 11:30:07 AM
Pace of corporate earnings impacted by economic, financial conditions: CARE Ratings Credit rating agency CARE Ratings on Thursday said the challenging economic and financial conditions continued to impact the pace of corporate earnings in the third quarter of FY23. Although revenue growth continued in double digits, there was a significant decrease in pace, it said in a report. Despite an anticipated increase in demand during Q3 due to the festive and holiday season, net sales remained almost unchanged from the previous quarter. "While there was some relief due...
Pace of corporate earnings impacted by economic, financial conditions: CARE Ratings
Pace of corporate earnings impacted by economic, financial conditions: CARE Ratings
Source: IANS
3/03/2023 11:38:48 AM
Indian banks to issue bonds to maintain capital levels: CARE Ratings With credit off-take increasing, Indian banks are expected to issue bonds to maintain their capital levels and support their advances while cost of funds -- deposits and borrowings are likely to increase, said CARE Ratings. "To support credit-off take, banks are expected to shore up their liability franchise by raising capital (AT1 bonds, other debt instruments such as infrastructure bonds) and deposits. The market has been facing lower liquidity and elevated inflation, hence borrowin...
Indian banks to issue bonds to maintain capital levels: CARE Ratings
Indian banks to issue bonds to maintain capital levels: CARE Ratings
Source: IANS
24/02/2023 10:22:13 AM
Nuclear fuels, petroleum, retail fuelled credit offtake: CARE Ratings Driven by retail credit demand, growth in non-banking finance companies (NBFC) and inflation-induced working capital requirement from sectors such as petroleum, coal products and nuclear fuels, and chemicals and chemical products, credit offtake rose by 16.3 per cent for the fortnight ended January 27, said CARE Ratings. In a research report, CARE Ratings said the credit offtake rose by 16.3 per cent year on year (y-o-y) for the fortnight ended January 27. Incremental credit growth has ...
Nuclear fuels, petroleum, retail fuelled credit offtake: CARE Ratings
Nuclear fuels, petroleum, retail fuelled credit offtake: CARE Ratings
Source: IANS
14/02/2023 2:41:47 PM
Measures likely to give some momentum to laggard deposits With the Indian banking sector stable plank with the ghosts of non-performing assets (NPA) vanishing -- at least for now -- there may not be any major announcements by Finance Minister Nirmala Sitharaman as to capital infusion in public sector banks or even their disinvestment in the upcoming Union Budget, said experts. With the credit offtake being good while deposit mobilisation lagging behind, the Centre may announce something to increase bank deposits, they added. "The banking ...
Measures likely to give some momentum to laggard deposits
Measures likely to give some momentum to laggard deposits
Source: IANS
28/01/2023 6:05:55 PM
Credit Saison India raises Rs. 540 crore in 2 tranches from Saison International, the Global Business Division of Credit Saison Co Capital infusion to help Credit Saison India (CS India) to continue to accelerate its growth Demonstrates parent company’s confidence in the Indian entity Bengaluru: Credit Saison India (CS India), one of India’s leading Neo-Lending Conglomerates, with a pan-India presence and a CARE AAA Credit rating, today announced that it has raised capital of Rs 540 cr in 2 tranches from Saison International, the Global Business Division of Credit Saison Co. Thi...
Credit Saison India raises Rs. 540 crore in 2 tranches from Saison International, the Global Business Division of Credit Saison Co
Credit Saison India raises Rs. 540 crore in 2 tranches from Saison International, the Global Business Division of Credit Saison Co
Source: PR Agency
25/01/2023 5:16:27 PM
Positive outlook for banks: All-time low NPAs, higher profits, resilient credit offtake The year 2022 was really a Happy Year for the Indian banks -- both government and private. The banks enjoyed arbitrage between the lending and deposit rates, higher credit demand, lower loan provisions (government-owned banks posted handsome profits) and others. The year also saw mergers and acquisitions (M&A) in the sector with housing finance major HDFC Ltd deciding to merge with HDFC Bank Ltd, Axis Bank acquisition of Citibank's consumer banking business, and the government a...
Positive outlook for banks: All-time low NPAs, higher profits, resilient credit offtake
Positive outlook for banks: All-time low NPAs, higher profits, resilient credit offtake
Source: IANS
31/12/2022 10:25:17 AM
RBI`s Monetary Policy Committee may hike policy rate by 25-35 bps: Experts The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may hike the repo rate between 25-35 basis points (bps) in its upcoming meeting, said experts. "We expect a 35 bps rate hike in the upcoming meeting. The Consumer Price Index (CPI) inflation is likely to moderate further in the coming months and slip below six per cent by the end of the fiscal year," Rajani Sinha, Chief Economist, CARE Ratings told IANS. She also said the Wholesale Price Index (WPI) has also...
RBI`s Monetary Policy Committee may hike policy rate by 25-35 bps: Experts
RBI`s Monetary Policy Committee may hike policy rate by 25-35 bps: Experts
Source: IANS
1/12/2022 2:16:26 PM
Happy days now, but challenging times ahead for public sector banks Arbitrage between the lending and deposit rates, higher credit demand, and lower loan provisions resulted in public sector banks (PSB) posting handsome profits during Q2FY23 and H1FY23, say experts. However, the happy times for the government banks may not continue for much long as competition will soon emerge for deposits, and loans, which, in turn, would increase the cost of funds and reduce the margins, the experts added. Further maintaining good employee relations by the PSB managem...
Happy days now, but challenging times ahead for public sector banks
Happy days now, but challenging times ahead for public sector banks
Source: IANS
19/11/2022 12:17:19 PM
CARE Ratings places NDTV's bank facilities on 'credit watch', shares gallop The shares of Adani group's takeover target satellite channel company New Delhi Television Ltd (NDTV) continued to hit the upward circuit on Monday with the price touching Rs 540.85. The 52-week low price for the scrip was Rs 72. Meanwhile, credit rating agency CARE Ratings has placed ratings assigned to NDTV's bank facilities on credit watch with developing implications following takeover decision by the Adani group. NDTV, which had postponed its 34th annual general meeting ...
CARE Ratings places NDTV's bank facilities on 'credit watch', shares gallop
CARE Ratings places NDTV's bank facilities on 'credit watch', shares gallop
Source: IANS
5/09/2022 3:41:51 PM
Care Ratings surges on reporting 22% rise in Q1 consolidated net profit Care Ratings is currently trading at Rs. 464.75, up by 12.25 points or 2.71% from its previous closing of Rs. 452.50 on the BSE. The scrip opened at Rs. 469.95 and has touched a high and low of Rs. 469.95 and Rs. 452.75 respectively. So far 4475 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 783.25 on 03-Aug-2021 and a 52 week low of Rs. 402.75 on 11-May-2022. Last one week high and low of the scrip stood at R...
Care Ratings surges on reporting 22% rise in Q1 consolidated net profit
Care Ratings surges on reporting 22% rise in Q1 consolidated net profit
Source: Accord Fintech
1/08/2022 12:19:24 PM
Banks gross NPA at 5.9 per cent, a 6-year low: CARE Ratings  Even though the gross non-performing assets (GNPA) of scheduled commercial banks in India has hit a six year low of 5.9 per cent in FY22, it can improve further, said CARE Ratings in a report. According to the credit rating agency, the GNPA of Indian banks at the end of FY22 was at 5.9 per cent and the overall provision coverage ratio (PCR) went up to 70.9 per cent. "As the Indian economy has navigated the pandemic-induced shocks, the bank credit growth by scheduled commercia...
Banks gross NPA at 5.9 per cent, a 6-year low: CARE Ratings
Banks gross NPA at 5.9 per cent, a 6-year low: CARE Ratings
Source: IANS
12/07/2022 3:07:51 PM
Bank credit to NBFCs increases 10% to Rs 10.5 lakh crore in FY22: Care Ratings Care Ratings in its latest report has said that bank credit to non-banking financial companies (NBFCs) grew in double digit in FY22 with outstanding bank credit to them rising by 10.4 per cent to Rs 10.5 lakh crore on the back of improvement in overall economic activities and banks' renewed focus on the NBFC sector following improvement in their balance sheets. It stated in absolute terms, NBFCs expanded by Rs 99,000 crore in FY22, from FY21. The number does not include liquidity given...
Bank credit to NBFCs increases 10% to Rs 10.5 lakh crore in FY22: Care Ratings
Bank credit to NBFCs increases 10% to Rs 10.5 lakh crore in FY22: Care Ratings
Source: Accord Fintech
3/06/2022 10:28:12 AM
CARE Ratings assigns A1 rating to YES SECURITIES Rs 100 crore Commercial paper YES Securities (India) Limited (YSIL), the wholly-owned Investment Banking, Merchant Banking, Wealth Broking & Investment Advisory subsidiary of YES BANK Limited (YBL), has been assigned a short-term 'A1' rating by Care Ratings for its Rs 100 crore commercial paper programme. The CARE A1 rating signifies the issuer offers adequate degree of safety regarding timely servicing of financial obligations and carries low credit risk. The CARE A1 rating is based on the following key ra...
CARE Ratings assigns A1 rating to YES SECURITIES Rs 100 crore Commercial paper
CARE Ratings assigns A1 rating to YES SECURITIES Rs 100 crore Commercial paper
Source: Yes Securities Ltd
21/04/2022 10:39:59 AM
High Conviction Idea : Buy CARE Ratings Ltd For Target Rs.700 - Centrum Broking Business overview CARE Ratings is the third largest rating agency in India after CRISIL and ICRA Ltd. In terms of revenues, it clocked Rs2.2bn in FY21 and Rs1.9bn in 9MFY22. Ratings business contributes ~90% to total revenues. Investment rationale * The strength visible in the economy is leading towards a reviving investment cycle and the company is well poised for a better future growth with the help of its 4 defined pillars being Group Approach, Technology, Talent and Rebranding wh...
High Conviction Idea : Buy CARE Ratings Ltd For Target Rs.700 - Centrum Broking
High Conviction Idea : Buy CARE Ratings Ltd For Target Rs.700 - Centrum Broking
Source: Centrum Broking Ltd
24/02/2022 12:25:50 PM
Buy CARE Ratings Ltd For Target Rs.750 - Yes Securities Q3 FY22 was weak; sustained revenue growth pick‐up and prudent utilization of cash key monitorables Our view CARE delivered a meek performance in Q3 FY22 with Revenue/EBITDA/PAT miss of 6%/20%/15% on our expectations. The consolidated revenue growth decelerated and to 8% yoy for 9m FY22 from 11% yoy for H1 FY22. Revenues for the quarter were flat yoy, a combination of modest 5.5% growth in Ratings business (91% of consolidated revenue) and a steep 29% decline in non‐rating revenues. Rat...
Buy CARE Ratings Ltd For Target Rs.750 - Yes Securities
Buy CARE Ratings Ltd For Target Rs.750 - Yes Securities
Source: Yes Securities Ltd
7/02/2022 10:59:24 AM
Cost for borrowing across states rises 2-month high of 6.91%: Care Ratings Ahead of the fourth monetary policy review when the market fears RBI may begin to normalise the easy money policy by sucking out liquidity from the system, Care Ratings in its latest report has said that the weighted average cost for borrowing across the states and maturities has risen to a two-month high of 6.91 per cent, up 6 basis points (bps) over the past week. According to the report, the rise in the yields of state bonds follows the uptick in yields of government securities (G-Secs)...
Cost for borrowing across states rises 2-month high of 6.91%: Care Ratings
Cost for borrowing across states rises 2-month high of 6.91%: Care Ratings
Source: Accord Fintech
6/10/2021 11:00:16 AM
Stock Picks - Buy CARE Ratings Ltd For Target Rs. 760 - ICICI Direct Technical Observations * The share price of Care Rating has rebounded after a higher base formation at the lower band of rising channel in place since March 2021 and 20 weeks EMA signaling resumption of the up move and offers fresh entry opportunity * Going ahead we expect the stock to resume up move and head towards | 760 levels as it is the 80% retracement of last decline (|791—640) * The key point to highlight is that the stock has seen shallow retracement as its has re...
Stock Picks - Buy CARE Ratings Ltd For Target Rs. 760 - ICICI Direct
Stock Picks - Buy CARE Ratings Ltd For Target Rs. 760 - ICICI Direct
Source: ICICI Direct
13/09/2021 11:31:54 AM
MTF Stock Pick Buy CARE Ratings Ltd For Target Rs. 820 - HDFC Securities MTF Stock Pick Buy CARE Ratings Limited For Target Rs. 820 - HDFC Securities  TECHNICAL OBSERVATIONS * The attached Daily timeframe chart of CARE RATING, which was moving for sideways for few sessions and in today’s session it has given a breakout with higher volumes. * The stock has also breached above downward sloping trend line * We observe a formation of bullish pattern on daily and weekly time fram * The stock is trading above 21 EMA. ...
MTF Stock Pick Buy CARE Ratings Ltd For Target Rs. 820 - HDFC Securities
MTF Stock Pick Buy CARE Ratings Ltd For Target Rs. 820 - HDFC Securities
Source: HDFC Securities Ltd
2/08/2021 11:58:06 AM
India’s GDP growth likely to be 8.8 to 9% in FY22: Care Ratings Care Ratings in its latest report has said that India’s gross domestic product (GDP) growth is likely to be 8.8 to 9 percent in the current financial year (FY22), driven by agriculture and industry sectors. The country's economy had contracted by 7.3 per cent in fiscal 2020-21. It said the outlook for the Indian economy on almost all counts in FY22 would look seemingly better than FY21 on account of the negative base effect. According to the report, services sector will not be ab...
India’s GDP growth likely to be 8.8 to 9% in FY22: Care Ratings
India’s GDP growth likely to be 8.8 to 9% in FY22: Care Ratings
Source: Accord Fintech
27/07/2021 10:16:28 AM
Add CARE Ratings Ltd For Target Rs.646 - Yes Securities Result Highlights * Revenue – Revenue came in at Rs 796mn which was a strong growth of 21% on YoY basis and 43% QoQ basis. The growth was driven by strong performance in both rating (19% yoy, 47% qoq) as well as non‐rating segment (98% yoy, 82% qoq).   * Operating Cost – Employee cost saw a jump of 26% partially contributed by ESOP charge amounting to Rs. 22.6mn v/s NIL in corresponding period. Although, other expenses saw a decrease of 39% on YoY basis, it almost ...
Add CARE Ratings Ltd For Target Rs.646 - Yes Securities
Add CARE Ratings Ltd For Target Rs.646 - Yes Securities
Source: Yes Securities Ltd
15/06/2021 11:38:41 AM
India`s GDP growth may be below 9% in FY22 owing to 2nd Covid-19 wave: Care Ratings Survey Care Ratings in its latest survey has said amid a raging second wave of COVID-19 and subsequent restrictions on business activities imposed by several states, economic recovery is beginning to lose steam and India’s GDP growth is likely to be below nine per cent for the current fiscal (FY22). It said at least 80 per cent of the respondents expect consumer demand for non-essential items as well as investment to be severely impacted due to the current COVID situation.   It ment...
India`s GDP growth may be below 9% in FY22 owing to 2nd Covid-19 wave: Care Ratings Survey
India`s GDP growth may be below 9% in FY22 owing to 2nd Covid-19 wave: Care Ratings Survey
Source: Accord Fintech
17/05/2021 12:16:30 PM
Stock Picks - Buy Care Ratings Ltd For Target Rs. 574.00 - ICICI Direct Technical Observations The stock has generated a breakout above a falling supply line joining highs since January 2020 (|720) signalling resumption of up move and offers fresh entry opportunity It is also seen sustaining above its 52 weeks EMA (currently at | 475 levels) indicating positive bias. It is expected to head towards | 574 levels in the coming weeks as it is the 80% retracement of the previous decline (| 608-407) The stock has already taken 20 weeks to retrace just 61.8% of...
Stock Picks - Buy Care Ratings Ltd For Target Rs. 574.00 - ICICI Direct
Stock Picks - Buy Care Ratings Ltd For Target Rs. 574.00 - ICICI Direct
Source: ICICI Direct
5/05/2021 12:15:48 PM
MTF Stock Pick - Buy CARE Ratings Ltd For Target Rs. 535 - HDFC Securities MTF Stock Pick  Buy - CARE Ratings Ltd For Target Rs. 535 - HDFC Securities  The down trend of the last few months in CARE Ratings Ltd seems to be over. The stock price has started to show sustainable upside bounce since last few weeks (weekly chart). The stock price is currently making an attempt to stage upside breakout of key trend line resistance at Rs 485-490 levels and this is expected to result in a sharp upside breakout. The larger degr...
MTF Stock Pick - Buy CARE Ratings Ltd For Target Rs. 535 - HDFC Securities
MTF Stock Pick - Buy CARE Ratings Ltd For Target Rs. 535 - HDFC Securities
Source: HDFC Securities Ltd
27/04/2021 2:01:11 PM
Indian economy to grow in range of 11-11.2% in FY22: CARE Ratings CARE Ratings has said that Indian economy will grow in the range of 11-11.2 per cent in the next financial year (FY22). It stated the high Gross Domestic Product (GDP) growth in FY22 will be on the back of low base effect in FY21 and broad-based recovery across the economy. Further it added  Progress in tax collections will be critical factor in realising this growth as any downside risk to Gross Value Added (GVA) would impact taxes and, in turn, GDP growth. It mentioned recovery is b...
Indian economy to grow in range of 11-11.2% in FY22: CARE Ratings
Indian economy to grow in range of 11-11.2% in FY22: CARE Ratings
Source: Accord Fintech
26/03/2021 11:20:36 AM
Analysis Of Union Budget 2021-2022 By Ajay Mahajan, CARE Rating Below are Views On Analysis Of Union Budget 2021-2022 By Ajay Mahajan, CARE Rating The Union Budget announced today is, in our view, indeed a landmark budget and probably took the nation by surprise. Did it meet expectations? Oh sure yes, as the FM has taken a bold step of not procrastinating crucial expenditure at a time when fiscal deficit is already running very high and additional sources for revenues appeared to be very limited. Instead, the FM has rightly pushed the attainment of ...
Analysis Of Union Budget 2021-2022 By Ajay Mahajan, CARE Rating
Analysis Of Union Budget 2021-2022 By Ajay Mahajan, CARE Rating
Source: PR Agency
2/02/2021 11:01:19 AM