Page 16 - Icra

Domestic air traffic down by 45% at 7.1 million in December: Icra

This is even as passenger traffic was up 12 per cent sequentially over November 2020, ratings agency Icra said

Cement demand expected to rise by up to 20% in fiscal 2022: Icra

Cement demand is expected to increase by up to 20 per cent in the next fiscal year with volume touching FY19-FY20 levels, rating agency ICRA said

Strong recovery in oil and gas volumes likely in fiscal 2022: Icra

The domestic demand for petroleum products is expected to increase at a healthy rate of 8 to 10 per cent in FY22 on a year-on-year basis, ratings agency Icra said

Electric two-wheeler sales remain tepid despite govt subsidy: Icra

Sales of electric two-wheelers (e-2W) in India remains tepid despite government's subsidy and near-term outlook largely remains unchanged

ICRA maintains stable outlook for road sector amid improved toll collection

Toll collections witnessed a marked improvement on the back of increased movement of both passenger and commercial vehicles

Toll collection likely to grow 15% in 2021-22: Ratings agency Icra

Icra maintained stable outlook for the Indian road sector

NBFCs may see 7-9% growth in assets under management next fiscal: Icra

But access to funding would be crucial to have a sustained improvement, says a report

Icra upgrades financial ratings of Tata Consumer Products to 'AAA'

ICRA has upgraded the rating for long-term financial instruments of Tata Consumer Products worth Rs 350 crore to AAA with a stable outlook from AA-plus

IFGL Refractories hits 52-week high on rating upgrade, leaps 53% in a month

Rating agency ICRA has upgraded credit rating assigned to Rs 173 crore LOC of the company with a stable outlook

PSBs need to raise additional Rs 43,000 crore in FY22, says Icra

Growth in bank credit is likely to pick up to 6-7 per cent in FY22 against an estimated 3.9-5.2 per cent in FY21 and 6.1 per cent in FY20.

CCI dismisses unfair practices complaint against 4 credit rating agencies

CCI dismissed a complaint alleging that Crisil, India Ratings, Care Ratings, and ICRA indulged in unfair business practices

Auto parts industry revenue to grow 16-18% in next fiscal: ICRA

Ratings agency ICRA on Tuesday said it has revised its outlook on the auto component industry from negative to stable, on the back of demand revival across original equipment manufacturers (OEMs), replacements and exports. ICRA expects the domestic auto component industry's revenue to grow 16-18 per cent in the financial year starting April 2021, supported by factors such as increasing content per vehicle, low base effect, and higher realisations. Long-term demand drivers include increased focus on localised supply chains by Indian OEMs. Diversification of supply chain risk by global OEMs is also expected to lead to increased sourcing from India in the coming years, ICRA said in a statement. OEMs, which account for over 56 per cent of the auto component demand, have recorded a sharp increase in demand since September across all segments, barring the medium and heavy commercial vehicle (M&HCV) industry, it added. Volumes of the automotive industry will take 2-3 years to revert to ..

Festive season lifts domestic air passenger traffic by 22% in Nov: ICRA

ICRA also said that the November domestic passenger traffic was close to 50 per cent of the domestic air travel demand in November 2019

Icra narrows its GDP decline forecast for FY21 to 7.8% from 11% earlier

Agency had forecast a small contraction of one per cent during Q3

RBI's draft NBFC dividend policy unlikely to impact most players: Icra

The Reserve Bank of India's draft circular on dividend distribution by NBFCs is unlikely to impact most of the industry players, said ratings agency ICRA

Indian aviation industry to report a net loss of Rs 21,000 cr in FY21: Icra

Indian aviation industry is expected to report a net loss of Rs 21,000 crore in the current financial year against a net loss of Rs 12,700 crore in FY20 due to lower revenues and high fixed costs

Domestic carriers may post loss of Rs 21k cr in FY21 on revenue loss: Icra

The ratings agency has also revised downward its passenger traffic forecast with domestic passenger traffic estimated to decline 62-64 per cent this fiscal from the earlier forecast of 41-42 per cent

Realisations through IBC to take a hit of up to 40% in FY21: Icra

Covid-19 outbreak, suspension of new proceedings under IBC has sharply slowed down resolution process causing realisation for financial creditors to decline

Pent-up demand behind improved economic activity, may not sustain: Icra

The pick up in economic activity in October is the result of pent-up demand and may not sustain going ahead, domestic ratings agency Icra said on Tuesday. Multiple fast-paced indicators, including GST collections, have been showing a sharp recovery since October, which has also led many analysts to revise their overall GDP forecasts for the fiscal. "We caution that the spikes in production seen in the various sectors in October 2020, are an exaggeration of the true recovery on the ground, as they have been driven by a large component of pent-up demand that may not sustain after the festive period is over," the agency's Principal Economist Aditi Nayar said. The factors which remain to be watched are the pace of government spending in the second half of the fiscal, after the unexpected contraction recorded in the September quarter, she added. The potential re-imposition of restrictions in one or more states on account of a fresh surge in CVID-19 infections, may temper the momentum of

Analysts revise Q2 GDP projections, are divided on sharpness on contraction

As Q2 will be the second quarter of economic contraction, India in all probability has entered a technical recession for the first time since quarterly GDP data began being compiled