Page 21 - Icra

Auto component sector FY21 revenue may fall 14-18% over weak demand: ICRA

ICRA expects recovery of the auto components sector to be gradual and slow-paced, with the industry pinning hopes on revival in rural income to support growth in the festive season and thereafter

Borrowings by states double to Rs 1.7 trn in Q1FY21 over Covid-19: Icra

"Icra estimates the net SDL (state development loans) issuance in Q1 FY2021 to have expanded by a sharp 135.6 per cent to Rs 1.4 trillion from Rs 0.6 trillion in Q1 FY2020," it said

SBI Cap to float special purpose vehicle for NBFC debt purchase, says RBI

The government, on May 21, had said it will support creating a SPV that will buy such papers from NBFCs

NBFCs' bad loans may worsen to 5-7% this fiscal due to weak economy: Icra

The lockdown has significantly impacted the cash flow position of NBFCs' borrowers

India records current account surplus of 0.1% of GDP, at $600 mn in Q4

As against this, there was a deficit of $4.6 bn, or 0.7% of GDP in the year ago quarter and $2.6 billion (0.4% of GDP) in Q3 of 2019-20

April-May fiscal deficit at 58.6% of fiscal year target as revenue slumps

Total revenue was Rs 45,498 crore, or 2 per cent of the budgeted estimate of Rs 22.46 trillion, compared to 7.1 per cent for the same period last year.

Gross NPAs of HFCs are estimated to increase to 2.5-3% in FY21: Icra

The situation in the non-housing segment is expected to be worse

ICRA, CARE downgrade Yes Bank's rating on upper tier-2 bonds to D

While the bank has adequate liquidity for coupon payment as per Basel guidelines coupon is not payable if the CRAR is below the regulatory requirement

Icra downgrades Yes Bank's tier-II bonds to 'D' after RBI clampdown

Agency said downgrade has factored in specific features of the instrument where debt servicing is linked to meeting regulatory norms on capitalisation, i.e., CAR of 9%

India Inc's Q4 net profit takes a 22% hit due to Covid-19, says ICRA

While margins contracted by 30 basis points on y-o-y basis, they fell a sharper 120 basis points on a sequential basis to 16.8 per cent

Amazon, Carlyle, Brookfield vie for Biyani's Future Supply Chain Solutions

Future Supply Chain Solutions (FSC) is a third-party supply chain and logistics service provider that offers warehousing facilities also.

Here are the rating agencies' forecasts on India in the last 2 months

Amid the coronavirus pandemic, the pace of credit rating downgrades has accelerated with average monthly downgrades increasing by 22 per cent in the past few months, ICRA said in a report

Low valuations, weak market appetite, liquidity woes hurt new InvITs

Rating agency ICRA had earlier in February estimated that Rs 2 trillion would likely be raised through the InvIT route over the next five years

Covid-19 impact: It is WPI deflation for the first time in 4.5 years

Development raises hope of another 25 bps cut in repo by MPC

Average monthly rating downgrades rise 22% amid Covid-19 pandemic: ICRA

The rating agency said that from its rated portfolio, while the number of downgrades has increased, upgrades have nearly dried up

Housing finance firms comfortably placed to meet debt obligations: Report

The total maturing debt of HFCs for 2020-21 is estimated to be Rs 2.9-3.2 trillion, of which Rs 1.4 trillion is accounted for by debt markets, rating agency ICRA said in the report.

Covid-19: Bank NPAs may worsen to 11.6 per cent by FY21 end, says Icra

With an increase in stress on asset quality and profitability, state-owned banks may need Rs 45,000-82,500 crore of capital in this financial year under a weak credit growth scenario, it said

Single-day cases in India cross 9,000-mark: Coronavirus updates, highlights

India has recorded 9,304 new cases in the last 24 hours, its biggest single day spike, taking the country's official to 216,919

Market Ahead, June 4: All you need to know before the opening bell

Today, a total of 15 companies including DLF, PI Industries, and SRF are scheduled to announce their March quarter results

Air passenger traffic in India may fall 45-50% in FY21 over Covid-19: ICRA

It also said the aviation infrastructure industry is amongst the most severely impacted by the Covid-19 crisis and the setback is expected to be substantial in the near term