Page 15 - Icra

Spectrum auction surpassed estimates; industry's debt levels to rise: ICRA

The results of telecom spectrum auctions, that grossed over Rs 77,800 crore, have "exceeded" initial estimates, ICRA said on Tuesday. While the value of sales was just 19 per cent of the value of total spectrum on offer, the debt levels of the industry are expected to rise further, post the auctions, and the debt protection metrics would continue to remain weak despite improvement in operating metrics, it said. Commenting on the telecom spectrum auctions, Ankit Jain, Assistant Vice-President, ICRA, said that the outcome exceeded earlier estimates and have fetched the exchequer around Rs 77,800 crore of which around Rs 28,000 crore will have to be paid upfront. "The telcos not only bid for renewals of the expiring spectrum but focused on consolidating their spectrum holdings in the 800 MHz, 900 MHz and 2300 MHz bands. While the sub-GHz bands will be crucial for 5G technology deployment going forward as well as improvement of indoor coverage, the appetite for 2300 MHz band stems from

Expect domestic air traffic to return to pre-Covid level by FY23: ICRA

ICRA also said the cargo volumes are likely to grow around 36 per cent in 2021-22 and six per cent in 2022-23 after a 25 per cent contraction this fiscal, reaching pre-COVID-19 levels in 2021-22

ICRA reaffirms AA-plus rating on United Spirits' financial instruments

ICRA has reaffirmed AA-plus rating with a stable outlook on United Spirits Ltd's (USL's) Rs 3,425 crore long-term, short-term and non-fund based financial instruments

After record FY21, brokerages' revenue growth to moderate in FY22: ICRA

'The ongoing investor exuberance is expected to wane gradually. The trading volumes are expected to moderate compared to the peak witnessed in the last few months,' says an ICRA official

Growth pace in high volume indicators slows in January, says ICRA

Five indicators - passenger vehicle output, vehicle registration, Coal India output, diesel consumption, and domestic airlines passengers - recorded contraction in January

Large real estate players double market share amid recovery: ICRA

The residential realty sector is witnessing a K-shaped recovery, credit rating agency ICRA said on Tuesday

Loans with dues in excess of 90 days show spike in Dec 2020: ICRA

The delinquencies, which were 0.6-0.7 per cent level in February, shot up to 3.4-3.6 per cent in case of SME and MFI segment by December

Monthly collections in retail pools of NBFCs at pre-moratorium level: Icra

Icra said the monthly collections, including overdues in its rated retail loan pools originated largely by NBFCs and HFCs, have reached pre-moratorium levels

ICRA reaffirms AAA stable for Axis Bank's infra bonds, debentures

ICRA has reaffirmed AAA rating on Axis Bank's infrastructure bonds and debentures worth Rs 22,205 crore.

Q3 GDP projection: It's moderate growth or mild fall, say economists

The GDP numbers for the third quarter are expected to be released next week.

Tariff hikes by telcos set to ring in revenue growth in FY22: ICRA

ICRA expects total industry debt to remain elevated at Rs. 4.7 lakh crore as on March 31, 2022

Securitisation recovers in Q3, up 61% at Rs 24,400 cr for shadow banks

Rating agency Icra estimates annual for FY21 securitisation at Rs 80,000-90,000 crore

January air traffic growth slows down to 3.5% sequentially: Icra

DGCA yet to release traffic data; in December domestic airlines flew 7.3 mn passengers with month-on-month growth of 15%

Duty cut could bring down domestic steel prices by 10%, says ICRA

Government's proposal to reduce import duty on steel products in Budget 2021-22 would make their imports more competitive and in turn exert near-term pricing pressures on domestic steelmakers

Reduction in duty could reduce steel prices by up to 10% in near term: Icra

The reduction of duty on steel products, as proposed in the Budget 2021-22, may bring down prices of the metal by up to 10 per cent in the near term, according to ICRA

Icra conslidated net profit rises 8.6% to Rs 24.45 cr in December quarter

It had posted a net profit of Rs 22.52 crore during the same quarter a year ago

Economic activity tentatively returning to pre-Covid levels, says Icra

It can be noted that there have been apprehensions about the sustainability of the demand after a pick-up in economic activity during the festivities

Rajasthan's power distribution companies to raise Rs 1,500 cr through bonds

The rating factors in the companies' status as a wholly owned power sector entity of the state government

Need to increase capital outlay in road sector by at least 15%: Icra

Rating agency ICRA on Wednesday said there is a need to increase capital outlay in the road sector by at least 15 per cent besides expediting asset monetisation programme.

Icra sees GDP up by 10.1% YoY in FY22, but value just a tad ahead of FY20

Rating agency expects monetary policy stance to change to neutral from accommodative in August 2021 policy review or later