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India`s economic activity growth reaches 8-month high in October The growth in economic activity in India improved markedly to an eight-month high of 10.1 per cent in October from 6.6 per cent in September, despite an unfavourable base, according to a report on Thursday.  The strengthening in growth momentum was led by the favourable impact of the departure of monsoon on sectors like mining and electricity, healthy demand during the festive season that boosted vehicle registrations, fuel consumption, air travel and the surge in exports, said the re...
India`s economic activity growth reaches 8-month high in October
India`s economic activity growth reaches 8-month high in October
Source: IANS
2024-11-21 11:25:26 am
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA Domestic rating agency Icra has said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. However, the agency maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal. The estimates and commentary on the outlook come at a time when there are concerns around the growth slowdown on a slew of factors like slowing down urban demand....
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA
India`s real GDP growth for September quarter likely to decline to 6.5%: ICRA
Source: Accord Fintech
2024-11-21 10:25:02 am
India`s installed renewable energy capacity to reach 250 GW by March 2026 The installed renewable energy capacity (including large hydro) in India is projected to reach 250 GW by March 2026, from the level of 201 GW (as of September this year), according to a report on Tuesday.  The capacity addition will be driven by the large project pipeline of over 80 GW, following the significant improvement in tendering activity in FY24, according to credit ratings ICRA. Moreover, the tendering activity remained high in the current fiscal, in line with the 50 GW an...
India`s installed renewable energy capacity to reach 250 GW by March 2026
India`s installed renewable energy capacity to reach 250 GW by March 2026
Source: IANS
2024-11-19 02:16:36 pm
India's industrial output up 3.1% y/y in September India's industrial output rose 3.1% year-on-year in September, backed by manufacturing activity, government data showed on Tuesday. Economists polled by Reuters had expected a growth of 2.5%. In August, industrial output had contracted for the first time in nearly two years. Manufacturing output climbed 3.9% year-on-year in September, electricity generation grew 0.5% and mining activity rose 0.2%, the data showed. The sectors had grown by 5.1%, 9.9% and 11.5%, respectively, a year a...
India's industrial output up 3.1% y/y in September
India's industrial output up 3.1% y/y in September
Source: Reuters
2024-11-13 10:06:54 am
Domestic air passenger traffic in India reaches 138.5 lakh in October: ICRA Credit rating agency ICRA in its latest report has said that domestic air passenger traffic in India reached 138.5 lakh in October, marking a 6.3% rise compared to 130.3 lakh in the previous month. It stated year-on-year, domestic air passenger traffic grew by 9.6% in October, with figures 12.8% higher than pre-COVID levels of 122.8 lakh in October 2019. It stated for the first seven months of current fiscal (April-October), domestic air passenger traffic stood at 932.0 lakh, reflecting a ...
Domestic air passenger traffic in India reaches 138.5 lakh in October: ICRA
Domestic air passenger traffic in India reaches 138.5 lakh in October: ICRA
Source: Accord Fintech
2024-11-08 11:30:26 am
India`s fiscal deficit narrows to 29.4 pc of FY25 target in April-Sep India’s fiscal deficit for the April-September period stood at Rs 4.75 lakh crore, or about 29.4 per cent of the estimate, for the current fiscal (FY25), government data showed on Wednesday.  According to the data, net tax receipts for the first six months of the current financial year were Rs 12.65 lakh crore, or 49 per cent of the annual target, compared with Rs 11.6 lakh crore for the same period last year. The gap between expenditure and revenue during the first six month...
India`s fiscal deficit narrows to 29.4 pc of FY25 target in April-Sep
India`s fiscal deficit narrows to 29.4 pc of FY25 target in April-Sep
Source: IANS
2024-10-31 09:24:57 am
Credit profile of domestic non-ferrous metal players likely to remain healthy in FY25: ICRA Credit rating agency ICRA in its latest report has said that the credit profile of the domestic non-ferrous metal players is likely to remain healthy in FY2025 driven by resilient base metal prices. According to ICRA's latest research, international base metal prices rose by around 12-14% in 7M FY2025 compared to the same period last year. While potential downside risks in the second half of FY2025 cannot be ruled out, low inventories and ongoing supply constraints are expected to limit a...
Credit profile of domestic non-ferrous metal players likely to remain healthy in FY25: ICRA
Credit profile of domestic non-ferrous metal players likely to remain healthy in FY25: ICRA
Source: Accord Fintech
2024-10-30 02:14:11 pm
Banks, NBFCs' credit growth to see steady slowdown in current fiscal : ICRA Ratings agency ICRA has said that the slew of regulatory measures and tighter funding conditions in the domestic markets to result in a steady slowdown in credit growth for the lenders, i.e. banks and non-bank financial companies (NBFCs). It estimates the incremental bank credit growth to slow down to Rs. 19.0-20.5 trillion in FY2025, which will translate into a YoY growth of around 12%, compared to Rs. 22.3 trillion in FY2024 (YoY growth of 16.3%).  For the NBFCs , the growth in asse...
Banks, NBFCs' credit growth to see steady slowdown in current fiscal : ICRA
Banks, NBFCs' credit growth to see steady slowdown in current fiscal : ICRA
Source: Accord Fintech
2024-10-25 11:13:20 am
Proposed anti-dumping duty by USA could derail ceramic tiles exports in FY25: ICRA Rating agency ICRA highlighted that the domestic market, which accounts for around 64% of the Indian ceramic tiles industry’s revenues, continues to witness resilient real estate demand, auguring well for the sector. However, the export market has started showing signs of a slowdown. The demand slowdown from the USA is visible in the current fiscal, post the commencement of the USA Department of Commerce’s investigations, in May 2024, on ceramic tile imports from India. Further, a...
Proposed anti-dumping duty by USA could derail ceramic tiles exports in FY25: ICRA
Proposed anti-dumping duty by USA could derail ceramic tiles exports in FY25: ICRA
Source: Accord Fintech
2024-10-24 12:15:23 pm
Indian apparel exporters likely to register 9-11% revenue expansion in FY25: ICRA Ratings agency ICRA has said that Indian apparel exporters are expected to register a 9-11 per cent revenue expansion in current fiscal (FY25) aided primarily by gradual liquidation of retail inventory in key end markets and a shift in global sourcing to India. With the revival in demand, it expects the capex spending to increase in FY25 and FY26 and may stay in the range of 5-8 per cent of the turnover. Further, it stated that the long-term prospects for Indian apparel exports are favoura...
Indian apparel exporters likely to register 9-11% revenue expansion in FY25: ICRA
Indian apparel exporters likely to register 9-11% revenue expansion in FY25: ICRA
Source: Accord Fintech
2024-10-22 10:11:59 am
Indian apparel exporters to see 9-11 pc revenue growth in FY25 Indian apparel exporters are estimated to see a 9-11 per cent revenue growth in FY25, benefitting from the gradual liquidation of retail inventory in the key end markets and a shift in global sourcing to the country, a part of the de-risking strategy adopted by several customers, a report showed on Monday.  With the revival in demand, credit rating ICRA expects the capex spending to increase in FY25 and FY26 and may stay in the range of 5-8 per cent of the turnover. The long-term p...
Indian apparel exporters to see 9-11 pc revenue growth in FY25
Indian apparel exporters to see 9-11 pc revenue growth in FY25
Source: IANS
2024-10-21 02:11:16 pm
Combined capital spending of state governments likely to expand by 13% in FY25: ICRA Credit rating agency ICRA has projected the combined capital spending of a sample of 13 major state governments to expand by 13% to Rs 6.5 trillion in FY25. However, this entails a miss, relative to the FY25 Budget Estimate (BE) of Rs 7.2 trillion, following a dull start to the capex in the initial months of this fiscal as well as the anticipated undershooting in states’ revenues.  The rating agency foresees a modest slippage in the combined revenue and fiscal deficits of the 13...
Combined capital spending of state governments likely to expand by 13% in FY25: ICRA
Combined capital spending of state governments likely to expand by 13% in FY25: ICRA
Source: Accord Fintech
2024-10-17 02:50:29 pm
Key state government`s capex to rise by 13 pc to Rs 6.5 lakh crore in FY25 The capex of key state governments is projected to rise by 13 per cent in the current fiscal (FY25) to Rs 6.5 lakh crore, according to a report on Wednesday.  However, compared to the FY25 budget estimate (BE) of Rs 7.2 lakh crore, the latest projection falls short following a dull start to the capex in the initial months of this fiscal as well as the anticipated undershooting in states’ revenues, according to credit agency ICRA. The agency has projected the combined capital ...
Key state government`s capex to rise by 13 pc to Rs 6.5 lakh crore in FY25
Key state government`s capex to rise by 13 pc to Rs 6.5 lakh crore in FY25
Source: IANS
2024-10-16 01:50:33 pm
ICRA forecasts 20-25% growth for Indian RAC industry in FY25 ICRA in its latest report has said that the Indian room air-conditioner (RAC) industry is poised for unprecedented growth, with year-on-year sales volumes expected to grow by 20-25 per cent to reach record highs of 12-12.5 million units in the financial year 2024-25 (FY25). It said the sales are expected to grow by 10-12 per cent in the 2025-26 fiscal. It stated factors such as rising temperatures, increasing demand for multiple RAC units per household, growing urbanisation, higher disposa...
ICRA forecasts 20-25% growth for Indian RAC industry in FY25
ICRA forecasts 20-25% growth for Indian RAC industry in FY25
Source: Accord Fintech
2024-10-16 10:10:57 am
Overall cargo volumes likely to see healthy growth of 9-11% in FY25: ICRA Credit rating agency ICRA in its latest report has said that the overall cargo volumes are expected to see a healthy year-on-year growth of 9-11 per cent to 3.6-3.7 million tonnes this fiscal year (FY25) on the back of estimated higher domestic and international cargo volumes while the outlook on airport infrastructure is stable. It expects international cargo volumes to expand 11-13 per cent while the domestic cargo growth is estimated at 4-6 per cent. According to the report, the interna...
Overall cargo volumes likely to see healthy growth of 9-11% in FY25: ICRA
Overall cargo volumes likely to see healthy growth of 9-11% in FY25: ICRA
Source: Accord Fintech
2024-10-15 11:38:20 am
India`s industrial production sees marginal contraction, manufacturing production rises  India's Index of Industrial Production (IIP) saw a marginal contraction of 0.1 per cent in the month of August, against July's 4.7 per cent as manufacturing production rose by 1 per cent, the Ministry of Statistics data showed on Friday.   In the manufacturing sector, the top three positive contributors were the manufacturing of basic metals (3.0 per cent), electrical equipment (17.7 per cent), and chemicals and chemical products (2.7 per cent) in August. The growth r...
India`s industrial production sees marginal contraction, manufacturing production rises
India`s industrial production sees marginal contraction, manufacturing production rises
Source: IANS
2024-10-12 10:53:52 am
India`s industrial output contracts for first time in nearly 2 years  India's industrial output contracted for the first time in nearly two years, partly hurt by weak mining activity and lower electricity generation, government data showed on Friday. Industrial output fell 0.1% year-on-year in August, contrary to economists' expectations of 1.2% growth in a Reuters poll. The index had previously registered a contraction in October 2022, when it fell 4.1%. Industrial output grew 4.7% in July. Manufacturing output rose 1% year-on-year, whil...
India`s industrial output contracts for first time in nearly 2 years
India`s industrial output contracts for first time in nearly 2 years
Source: Reuters
2024-10-11 06:08:42 pm
Overall air cargo volumes to witness healthy growth of around 9-11% in FY25: ICRA Credit rating agency ICRA in its latest report has said that the overall air cargo volumes are likely to witness healthy growth of around 9-11% YoY to around 3.6-3.7 million tonnes in FY25, supported by 11%-13% expansion in international and 4%-6% growth in domestic cargo. The international cargo volumes have seen a muted YoY rise of 1% in H1 FY24 on the back of the slowdown in the global economy and geo-political conflicts. However, the international cargo volumes have seen a healthy expansi...
Overall air cargo volumes to witness healthy growth of around 9-11% in FY25: ICRA
Overall air cargo volumes to witness healthy growth of around 9-11% in FY25: ICRA
Source: Accord Fintech
2024-10-11 11:39:35 am
Indian construction entities’ revenue likely to grow by 12-15% in FY25: ICRA Credit rating agency ICRA in its latest report has said that the Indian construction entities are likely to maintain healthy revenue growth in FY25 with a projected YoY growth of 12-15% in this fiscal, aided by an adequate order book position and the government’s thrust on infrastructure activity. The aggregate order book-to-sales ratio of ICRA's sample set of companies was 3.1x as of June 2024, thereby indicating healthy revenue growth prospects over the medium term. ICRA noted ...
Indian construction entities’ revenue likely to grow by 12-15% in FY25: ICRA
Indian construction entities’ revenue likely to grow by 12-15% in FY25: ICRA
Source: Accord Fintech
2024-10-10 12:37:49 pm
Around 1.1 million medium, heavy commercial vehicles offer significant potential for scrappage: ICRA Ratings agency ICRA in its latest report has said that around 1.1 million medium and heavy commercial vehicles (M&HCVs), older than 15 years as of March 31 this year, offer a significant potential for scrappage. While the actual scrappage could possibly be lower given the nature of usage of such vehicles, even if a proportion of these vehicles gets scrapped, it can support vehicle sales to some extent by spurring replacement demand.  The Voluntary Vehicle Fleet Modernisation Progr...
Around 1.1 million medium, heavy commercial vehicles offer significant potential for scrappage: ICRA
Around 1.1 million medium, heavy commercial vehicles offer significant potential for scrappage: ICRA
Source: Accord Fintech
2024-10-09 11:42:56 am
India`s domestic air passenger traffic reaches 132.3 lakh in Sep at 8.1 pc YoY growth  Domestic air passenger traffic reached nearly 132.3 lakh in the month of September, up by 0.8 per cent compared to 131.3 lakh in August, a report showed on Tuesday.  The domestic passenger traffic data witnessed a year-on-year growth of 8.1 per cent, compared to 122.5 lakh in September last year, as per data by credit rating agency ICRA. For the first half of current fiscal (FY25), domestic air passenger traffic was 795.5 lakh, a YoY growth of 5.6 per cent and 12.9 per cent h...
India`s domestic air passenger traffic reaches 132.3 lakh in Sep at 8.1 pc YoY growth
India`s domestic air passenger traffic reaches 132.3 lakh in Sep at 8.1 pc YoY growth
Source: IANS
2024-10-08 02:54:58 pm
Securitisation volumes in India touch Rs 60,000 crore in Q2 FY25 The securitisation volumes of standard assets in India reached Rs 60,000 crore in the July-September period in FY25, a growth of 36 per cent on quarterly basis and 31 per cent on year-over-year basis, according to a report on Monday.  In the April-September period, the securitisation volumes estimated to have touched Rs 104,000 crore, reflecting a modest YoY growth of 2 per cent, as the volumes had been relatively muted in the April-June period, according to credit rating ICRA. The re...
Securitisation volumes in India touch Rs 60,000 crore in Q2 FY25
Securitisation volumes in India touch Rs 60,000 crore in Q2 FY25
Source: IANS
2024-10-07 04:31:58 pm
Indian alcoholic beverages industry to see 8-10 pc sales growth in FY25 The domestic alcoholic beverages industry is likely to see 8-10 per cent revenue in FY25, led by steady demand for beer and a revival in consumption of spirits, along with increasing consumer preference for premium products, a report said on Monday.  According to credit rating agency ICRA, the revenue increase in FY25 will additionally be supported by the price hikes granted by a few state governments in the current fiscal. During Q1 FY25, the spirits industry reported 9 per cent Y...
Indian alcoholic beverages industry to see 8-10 pc sales growth in FY25
Indian alcoholic beverages industry to see 8-10 pc sales growth in FY25
Source: IANS
2024-10-07 01:45:50 pm
Domestic road logistics industry revenues likely to grow up to 9% in FY25: ICRA ICRA in its latest report has said that the domestic road logistics industry is expected to register a growth of up to 9 per cent in revenues in the ongoing 2024-25 financial year (FY25). The organised road logistics sector had witnessed a growth 4.6 per cent in the 2023-24 fiscal year. As per ICRA, the industry logged a revenue of Rs 23,273 crore in FY24. It stated ‘ICRA expects the revenues of the Indian road logistics industry to grow by a moderate 6-9 per cent year-on-year (y-o-y...
Domestic road logistics industry revenues likely to grow up to 9% in FY25: ICRA
Domestic road logistics industry revenues likely to grow up to 9% in FY25: ICRA
Source: Accord Fintech
2024-10-07 10:14:29 am
Revenues of Indian road logistics industry likely to grow by moderate 6-9% in FY25: ICRA Credit rating agency ICRA in its latest report has said that the revenues of the Indian road logistics industry are likely to grow by a moderate 6-9% YoY in FY25. Following some disruption in business activities during Q1 amidst the General Elections, the sector prepares for the much-awaited seasonally strong festive period. It said an increase in manufacturing output amidst restocking and an uptick in consumer spending and e-commerce activities augur well for logistics demand. This, coupled ...
Revenues of Indian road logistics industry likely to grow by moderate 6-9% in FY25: ICRA
Revenues of Indian road logistics industry likely to grow by moderate 6-9% in FY25: ICRA
Source: Accord Fintech
2024-10-04 12:32:32 pm
Resilient domestic growth, continued policy support give India Inc a strong credit boost  Leading credit ratings agencies on Tuesday highlighted the sustained strengthening of India Inc's credit quality, reflecting resilient domestic growth supported by the government's continued policy support.   Crisil Ratings upgraded 506 companies in the first half of the current fiscal compared to 184 downgrades, which is an upgrade-to-downgrade ratio of 2.75 from 1.79 times in the second half of last fiscal. The annualised upgrade rate of 14.5 per cent outpaced the a...
Resilient domestic growth, continued policy support give India Inc a strong credit boost
Resilient domestic growth, continued policy support give India Inc a strong credit boost
Source: IANS
2024-10-01 05:35:40 pm
Revenues of Indian pharma companies likely to expand by 9-11% in FY25: ICRA ICRA in its latest report has said that revenues of Indian pharma companies are likely to expand by 9-11 per cent in the current financial year (FY25), albeit a moderation from the increase of 13-14 per cent recorded in the previous year. It stated this projected revenue will be driven by 9-11 per cent growth from the US market, 7-9 per cent each from the European and domestic markets, and 11-13 per cent from the emerging markets. ICRA has maintained its Stable outlook for the Indian pharm...
Revenues of Indian pharma companies likely to expand by 9-11% in FY25: ICRA
Revenues of Indian pharma companies likely to expand by 9-11% in FY25: ICRA
Source: Accord Fintech
2024-10-01 12:46:08 pm
Indian pharma companies to expand revenues by 9-11 pc in FY25 The Indian pharma companies are estimated to expand their revenues by a healthy 9-11 per cent in the current fiscal (FY25), a report showed on Monday.  This will be driven by 9-11 per cent revenue growth from the US market, 7-9 per cent each from the European and domestic markets, and 11-13 per cent from the emerging markets, according to credit rating ICRA. The revenue growth from the domestic market is likely to improve by 7-9 per cent in FY25 against 6.4 per cent in FY24. ICR...
Indian pharma companies to expand revenues by 9-11 pc in FY25
Indian pharma companies to expand revenues by 9-11 pc in FY25
Source: IANS
2024-09-30 02:14:35 pm
Petrol, diesel likely to see Rs 2-3 per litre cut if crude prices remain stable  Healthy marketing margins on auto fuels could spur price reductions of Rs 2-3 per litre in petrol and diesel prices in the country if crude prices remain stable, leading rating agency ICRA said on Thursday.  The marketing margins on retail sales of auto fuels for the Indian oil marketing companies (OMCs) have improved in recent weeks with the reduction in crude prices. The rating agency anticipates that there is headroom for the downward revision of retail fuel prices if crud...
Petrol, diesel likely to see Rs 2-3 per litre cut if crude prices remain stable
Petrol, diesel likely to see Rs 2-3 per litre cut if crude prices remain stable
Source: IANS
2024-09-26 01:43:16 pm
Organised gold loans by banks, NBFCs likely to exceed Rs 10 trillion in FY25: ICRA Credit rating agency ICRA in its latest report has said that the organised gold loans (GL) by banks and non-banking financial companies (NBFCs) are likely to exceed Rs 10 trillion in the current financial year (FY25) and are set to reach Rs 15 trillion by March 2027. It highlighted that banks remain dominant driven by their gold jewellery-backed agriculture loans. At the same time, NBFCs hold the pole position in retail gold loans and are expected to expand at 17-19% in FY25. The moderation i...
Organised gold loans by banks, NBFCs likely to exceed Rs 10 trillion in FY25: ICRA
Organised gold loans by banks, NBFCs likely to exceed Rs 10 trillion in FY25: ICRA
Source: Accord Fintech
2024-09-26 11:57:43 am
Slower deposit growth to push banks to mop-up up to Rs 1.3 lakh crore from bond issuances in FY25: ICRA Domestic rating agency ICRA in its latest report has said that the slower deposit growth will push banks to mop-up up to Rs 1.3 lakh crore from bond issuances in FY25. The bond issuances, coming amidst a continuing wedge between deposit and credit growth, will come between Rs 1.2-1.3 lakh crore and will be the highest ever for the system. It said nearly 85 per cent of the bond issuances will be by public sector banks and added that the higher appetite for infra bonds among such lenders will d...
Slower deposit growth to push banks to mop-up up to Rs 1.3 lakh crore from bond issuances in FY25: ICRA
Slower deposit growth to push banks to mop-up up to Rs 1.3 lakh crore from bond issuances in FY25: ICRA
Source: Accord Fintech
2024-09-25 11:53:52 am
Organised gold loans to reach Rs 15 lakh crore in India by March 2027 The organised gold loans by banks and non-banking financial companies (NBFCs) are set to exceed Rs 10 lakh crore in the current fiscal, with a projection to reach Rs 15 lakh crore by March 2027, a report showed on Wednesday.  Rating agency ICRA said that banks remain dominant driven by their gold jewellery-backed agriculture loans. Public sector banks (PSBs) accounted for about 63 per cent of overall gold loans in March 2024, up from 54 per cent in March 2019, while the NBFC and priva...
Organised gold loans to reach Rs 15 lakh crore in India by March 2027
Organised gold loans to reach Rs 15 lakh crore in India by March 2027
Source: IANS
2024-09-25 11:45:33 am
Indian banks to issue bonds worth Rs 1.3 lakh crore in FY25, PSBs to dominate Led by public sector banks (PSBs), Indian banks are set to issue all-time high bonds worth Rs 1.2 lakh crore- Rs 1.3 lakh crore in the current fiscal (FY25), surpassing the earlier peak of Rs 1.1 lakh crore in FY23, a report showed on Tuesday.  PSBs are likely to command a lion’s share at 82-85 per cent of bonds issuances, with infrastructure bonds dominating the segment, according to leading credit rating agency ICRA. Banks have recently increased fund-raising via bonds, eve...
Indian banks to issue bonds worth Rs 1.3 lakh crore in FY25, PSBs to dominate
Indian banks to issue bonds worth Rs 1.3 lakh crore in FY25, PSBs to dominate
Source: IANS
2024-09-24 11:47:58 am
Interlinking river projects to offer business opportunities worth Rs 80,000 crore over next 4 years: ICRA ICRA in its latest report has said that business opportunities worth Rs 2 lakh crore are expected to emerge for engineering, procurement, and construction (EPC) entities over the next decade, with the completion of four priority interlinking river (ILR) projects. It stated approximately a third of this value (around Rs 80,000 crore) is projected to be awarded over the next four years to companies involved in large-scale irrigation projects. The National Water Development Agency (NWDA) has ...
Interlinking river projects to offer business opportunities worth Rs 80,000 crore over next 4 years: ICRA
Interlinking river projects to offer business opportunities worth Rs 80,000 crore over next 4 years: ICRA
Source: Accord Fintech
2024-09-24 09:11:58 am
Add ICRA Ltd For Target Rs. 7,500 By Yes Securities Earnings growth and RoE to pick-up from FY26 Traction in Ratings to continue; business margins to improve further Rating industry’s revenue growth can sustain above 10-12% over the coming years aided by ongoing infrastructure investments, pick-up in private sector capex cycle, sustained growth of NBFCs/HFCs, widened participation (including more issuers) in bond markets with country’s inclusion in global indices and incremental funding shift and refinancing through bond mark...
Add ICRA Ltd For Target Rs. 7,500 By Yes Securities
Add ICRA Ltd For Target Rs. 7,500 By Yes Securities
Source: Yes Securities Ltd
2024-09-20 05:39:22 pm
Renewable energy share in India`s power generation to reach 35 pc by FY30 The share of renewable energy, including hydro, in the country’s power generation is projected to rise to 35 per cent by FY30, up from 21 per cent in FY24, a report showed on Friday.  According to ratings agency ICRA, achieving the renewable purchase obligation (RPO) target of 43.3 per cent by FY30 will require more than doubling the current renewable energy capacity of 200 GW to meet future demand. This will involve significant investments in energy storage and grid integrat...
Renewable energy share in India`s power generation to reach 35 pc by FY30
Renewable energy share in India`s power generation to reach 35 pc by FY30
Source: IANS
2024-09-20 05:21:28 pm
Domestic steel consumption likely to witness 9-10% growth in FY25: ICRA Credit rating agency ICRA in its latest report has said that domestic steel consumption is likely to witness 9-10 per cent growth this financial year (FY25). The demand for steel was robust in the first quarter of the ongoing financial year (Q1FY25) with consumption growing at a rate of 15 per cent on a year-on-year basis amidst competitively priced imports. Demand may record some sequential slowdown in the current quarter as it is seasonality associated with monsoon, following which governme...
Domestic steel consumption likely to witness 9-10% growth in FY25: ICRA
Domestic steel consumption likely to witness 9-10% growth in FY25: ICRA
Source: Accord Fintech
2024-09-13 11:53:33 am
Evolving asset quality risks to dampen growth, profitability of microfinance sector: ICRA Credit rating agency ICRA in its latest report has said that the increasing delinquencies in the microfinance sector, which is likely to push up the Non-banking finance companies - microfinance institutions (NBFC-MFI) credit costs to 320-340 bps in FY2025 from 220 bps in FY2024. It said the evolving asset quality risks will dampen sectoral growth and earnings in the current fiscal. While demand remains robust, ICRA expects the NBFC-MFIs’ AUM growth to significantly moderate to 17-19% in...
Evolving asset quality risks to dampen growth, profitability of microfinance sector: ICRA
Evolving asset quality risks to dampen growth, profitability of microfinance sector: ICRA
Source: Accord Fintech
2024-09-04 11:34:22 am
Commercial vehicle wholesale volume likely to grow up to 3% in FY25 : ICRA Rating agency ICRA in its latest report has said that the commercial vehicles (CV) wholesale volume may witness year-on-year growth of up to 3 per cent in current fiscal year. It had earlier estimated 4-7 per cent decline in CV volume for FY25. It stated that the change in projection is due to better-than-expected volume growth in first four months of the current fiscal and expectations of a marginal uptick in demand in the second half of the year. It added FY25 will be the second consecut...
Commercial vehicle wholesale volume likely to grow up to 3% in FY25 : ICRA
Commercial vehicle wholesale volume likely to grow up to 3% in FY25 : ICRA
Source: Accord Fintech
2024-09-03 10:14:26 am
India's fiscal deficit for April-July stands at 17.2 pc of full-year target The Central government's fiscal deficit in the first four months (April-July) of the current financial year stands at Rs 2.77 lakh crore which works out to 17.2 per cent of the full-year target and is lower than the corresponding figure of 33.9 per cent in the same period last year, according to official data released on Friday.   The data showed that net tax receipts for the period stood at Rs 7.15 lakh crore, or 27.7 per cent of the annual target, which is higher compared with R...
India's fiscal deficit for April-July stands at 17.2 pc of full-year target
India's fiscal deficit for April-July stands at 17.2 pc of full-year target
Source: IANS
2024-08-31 09:06:22 am
Global LNG markets heading towards significant supply glut, India to benefit The global liquified natural gas (LNG) markets are now heading towards significant supply glut, which is set to benefit India as significant capacity addition amid expectation of modest demand growth in the global consumption will keep the LNG prices under check, a report said on Wednesday.  Consumption in India is expected to grow by 6-8 per cent YoY in FY2025, supported by softer LNG prices and an uptick in the domestic gas production, according to the report by credit rating ICRA. ...
Global LNG markets heading towards significant supply glut, India to benefit
Global LNG markets heading towards significant supply glut, India to benefit
Source: IANS
2024-08-28 02:05:17 pm
Enforcement of new mining cess may increase cost pressure for steel makers: ICRA Ratings agency ICRA in its latest report has said that the enforcement of the new mining cess by some states following the Supreme Court ruling may bring challenges for the domestic steel industry by adding to the cost pressures. On August 14, 2024, the Supreme Court upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards. This development is poised to compress operating margins across the sector,...
Enforcement of new mining cess may increase cost pressure for steel makers: ICRA
Enforcement of new mining cess may increase cost pressure for steel makers: ICRA
Source: Accord Fintech
2024-08-27 11:05:14 am
India`s GDP growth to moderate to 6 quarter low of 6% in Q1FY25: ICRA Domestic rating agency ICRA has projected India’s Gross domestic product (GDP) growth to moderate to a six-quarter low of 6 per cent in April-June (Q1FY25) from 7.8 per cent in Q4 FY2024 on account of contraction in government capital expenditure and a dip in urban consumer demand. For the full fiscal 2024-25, ICRA expects GDP to grow 6.8 per cent, lower than the 8.2 per cent clocked in 2023-24. According to the report, the June quarter of the current fiscal saw a temporary lull in s...
India`s GDP growth to moderate to 6 quarter low of 6% in Q1FY25: ICRA
India`s GDP growth to moderate to 6 quarter low of 6% in Q1FY25: ICRA
Source: Accord Fintech
2024-08-23 12:57:21 pm
ICRA projects growth of NBFC asset under management to ease to 13-15% in FY25 ICRA in its latest report has said that the non-banking financial companies (NBFCs) shall witness headwinds related to funding availability, which is likely to impede growth vis-a-vis the robust expansion in the last two fiscals. It projects the growth of NBFC asset under management (AUM) to ease to 13-15% in FY25 from 18% in FY24. Standing at about Rs 47 trillion in March 2024, the sector AUM is set to cross Rs 50 trillion in FY25.  It stated key challenges for meeting growth expecta...
ICRA projects growth of NBFC asset under management to ease to 13-15% in FY25
ICRA projects growth of NBFC asset under management to ease to 13-15% in FY25
Source: Accord Fintech
2024-08-22 10:15:03 am
Local manufacturing to offer Rs 25,000 crore annual opportunity to construction equipment vendors by FY30: ICRA Credit rating agency ICRA has said that increasing component localisation is expected to offer an annual opportunity of approximately Rs 25,000 crore to construction equipment vendors by FY30, led by components such as undercarriages and precision hydraulics. Overall, ICRA foresees a jump in localisation levels from 50% to over 70% in the next 5-7 years. According to the report, the Indian mining and construction equipment (MCE) industry is the third largest in the world in terms of volume...
Local manufacturing to offer Rs 25,000 crore annual opportunity to construction equipment vendors by FY30: ICRA
Local manufacturing to offer Rs 25,000 crore annual opportunity to construction equipment vendors by FY30: ICRA
Source: Accord Fintech
2024-08-21 12:38:43 pm
Discoms facing financial constraints due to delays in realising payments from government: ICRA Credit rating agency ICRA in its latest report has said that the state-owned power distribution companies (discoms) are facing financial constraints despite improving their aggregate technical and commercial losses. The agency has cited delays in realising payments from state government departments for power supply as one of the reasons for the constrain of discom finances and assigned a negative outlook for the power distribution segment. According to the report, the all-India aggregate t...
Discoms facing financial constraints due to delays in realising payments from government: ICRA
Discoms facing financial constraints due to delays in realising payments from government: ICRA
Source: Accord Fintech
2024-08-14 12:38:03 pm
Revenue of domestic API producing firms likely to see 7-8% rise by 2029: ICRA Rating agency ICRA in its latest report has said that revenue of domestic active pharmaceutical ingredients (API) producing firms is expected to see a 7-8 per cent rise by 2029. It expects the revenues of its sample set of companies to expand at a CAGR of 7-8 per cent between 2023 and 2029, from an estimated size of $13-14 billion in 2023. According to the report, this will be driven by a steady ramp-up in the pharmaceutical formulations industry, which in turn, will be aided by an increas...
Revenue of domestic API producing firms likely to see 7-8% rise by 2029: ICRA
Revenue of domestic API producing firms likely to see 7-8% rise by 2029: ICRA
Source: Accord Fintech
2024-08-13 11:58:02 am
India's NALCO's reports 76% jump in profit on shrinking costs, higher aluminium prices  India's National Aluminium Company (NALCO) reported a 76% jump in first-quarter profit on Monday as the company benefitted from shrinking costs and higher prices for the metal. The state-owned firm's consolidated profit jumped to 5.88 billion rupees (about $70 million) year-on-year for the three months ended June 30. Global prices of base metals, including aluminium, rose sharply during the quarter due to supply concerns and rising demand, analysts said. Higher commodit...
India's NALCO's reports 76% jump in profit on shrinking costs, higher aluminium prices
India's NALCO's reports 76% jump in profit on shrinking costs, higher aluminium prices
Source: Reuters
2024-08-12 03:36:12 pm