Page 27 - Icra

ICRA slips 6% after it sends MD and CEO Naresh Takkar on sudden leave

Without disclosing specific reasons, the rating agency informed the stock exchanges that its board in its meeting on Monday decided to place Takkar on leave, effective immediately.

Under Sebi glare, ICRA sends MD and CEO Naresh Takkar on sudden leave

CFO Vipul Agarwal will be interim COO

Under Sebi's glare, Icra sends MD & CEO Naresh Takkar on forced leave

The agency has appointed chief financial officer Vipul Agarwal as the interim chief operating officer who will be reporting to the board, according to a statutory filing

Icra downgrades Edelweiss debentures on weakness in wholesale lending book

Agency says decision based on heightened risks from realty and structured debt deals across sectors; retains Al+ rating for company's CPs and short-term NCDs

60% road projects do not have a major maintenance reserve, says ICRA

The lack or inadequacy of these funds also highlights financial stress in developing these road projects

Icra downgrades McLeod Russel India, stock closes at a 52-week low

In a bid to pare debt, McLeod had sold 12 estates in Assam and signed agreements to sell more gardens in Assam, Dooars and Africa

IL&FS effect: Icra downgrades 6 funds from HDFC,UTI, Birla AMC

Domestic rating agency Icra has placed the ratings of six mutual fund schemes under watch with negative implications due to their exposure to the crippled infra lender IL&FS group entities. The schemes being put under watch include a short term debt funds and banking and PSU debt funds from HDFC, banking and PSU debt fund, bond fund, dynamic bond funds from UTI , Aditya Birla Sun Life short term opportunities fund, Icra said in statement Tuesday. The rating action is due to the "deterioration in the credit quality" of the underlying investments of these schemes driven by their exposure to special purpose vehicles (SPVs) of IL&FS Group, the agency said. These schemes have exposure to Hazaribagh Ranchi Expressway, Jharkhand Road Projects Implementation Company, and Jorabat Shillong Expressway, the agency said. "The default risks by various SPVs of IL&FS have increased after the recent management communication to the trustees expressing to stop future repayments

ICRA downgrades National Insurance Company's rating to AA from AA+

Report said NIC is likely to report a solvency ratio below the minimum regulatory requirement in FY19 as the company has no headroom to raise additional subordinated debt

IT services firms may grow at 9-12% annual growth rate during FY18-21: Icra

The credit profile of Indian IT services companies remains stable

Icra places long-term rating of AAA for PFC, REC debt plans under watch

The agency has also reaffirmed the rating of A1+ to the short-term borrowing programme of the two companies

States may not be able to stick to the path of fiscal consolidation: Icra

The corresponding rise in revenue expenditure may lead some states to curtail their capital spending, worsening quality of expenditure

ICRA gains 6% as board mulls share buyback proposal

The stock gained 6% to Rs 3,657 on the BSE in intra-day trade after the company said it's board will consider share buyback proposal on Thursday, August 9, 2018.

New project announcements shrink 33% to Rs 2.8 trn in Q4 of FY18

Value of revived projects, too, was tepid at Rs 0.2 trillion in Q4 of FY18, down from Rs 0.9 trillion in the corresponding period of FY17

The macroeconomic scene has deteriorated, says Naresh Takkar, MD ICRA

Private sector banks have the capital, but they are going to be extremely selective in funding capital expenditure and large projects

CV, LAP, MSME loan collections remain strong at 95-99% in Jul-Aug: Icra

Despite concerns over the implementation of GST, the monthly collection ratios of loan remained strong

Cement demand growth expected to be around 3.5-4% in FY18, says Icra

ICRA expects the cement demand to rebound from the October-December quarter

Private banks' share in credit to reach 40% by 2020, says Icra

Private banks have been taking the space vacated by capital-short public sector banks (PSBs) in the credit market. Private banks' share in banking sector advances will reach 38-40 per cent by March 2020, from 27.5 per cent in March 2017, according to rating agency ICRA.Indian banking is going through a transition, with private and public sector banks (PSBs) facing different challenges. The latter are plagued with asset quality issues, leading to higher credit costs and losses, ICRA said. As a result, capital-short PSBs have been constraining their lending. Their tier-I capital was 9.7 per cent of risk-weighted assets as on end-June, as against the 9.5 per cent required by regulations by end-March, 2019. PSB advances grew less than one per cent over a year before during the June quarter (Q1) this financial year. In contrast, private banks' tier-I capital was 14.1 per cent as on end-June, well capitalised to capture the lending opportunities ceded by PSBs. Their year-on-year growth in .

Life insurers new business to grow 15-18%: Icra

General insurance industry expected to grow at 20% in FY18

Soft crude prices to keep outlook for Indian upstream sector negative: Icra

OPEC had agreed to cut total crude oil production of its member countries by 1.2 mn a day

Supreme Court order on RECs to give relief to RE players, says Icra

SC further directed REC procurers to deposit the difference between earlier price and revised price