Page 6 - Icra
Banks urge RBI to extend HTM leeway beyond Mar 2023 as bond losses pile up
Bankers have sought permission to park a larger quantum of securities in the portfolio than is currently permitted amid an environment of rising bond yields.
 "Banks urge RBI to extend HTM leeway beyond Mar 2023 as bond losses pile up")
LIC adds Rs 1,983 cr in kitty by offloading shares in Siemens, Icra
LIC said its holding in Siemens decreased by over 2 per cent from October 14, 2020, to July 18, 2022, at an average cost of Rs 2,701.19 per piece.
 "LIC adds Rs 1,983 cr in kitty by offloading shares in Siemens, Icra")
CRISIL, Icra, CARE: Major hurdles yet to be conquered by rating agencies
Despite the 15 per cent rally on Wednesday, CARE Ratings still trades 38 per cent lower from its 52-week high; Similarly, CRISIL and ICRA too are down 14 per cent from their respective 52-week highs.
 "CRISIL, Icra, CARE: Major hurdles yet to be conquered by rating agencies")
Banks may incur Rs 13,000 cr MTM losses in Q1 on rising bond yields: Icra
State-owned lenders, which hold large quantities if G-Secs, to face brunt of yield spike
 "Banks may incur Rs 13,000 cr MTM losses in Q1 on rising bond yields: Icra")
CPI inflation pegged at 6.8-7.25% in June; IIP growth at 14.5-24% in May
According to MPC's own projections, the inflation rate may not come down below 6% on average before the fourth quarter of the current financial year
 "CPI inflation pegged at 6.8-7.25% in June; IIP growth at 14.5-24% in May")
IREDA may raise up to Rs 15,000 crore via long-term bonds in FY23
IREDA has a well-diversified borrowing profile, with access to funds through tax-free bonds, taxable bonds, bank/financial institution (FI) loans, masala bonds and foreign currency loans
 "IREDA may raise up to Rs 15,000 crore via long-term bonds in FY23")
India misses fifth-largest economy in the world tag by $13 billion
Experts say it is just a matter of a year before India overtakes the UK
 "India misses fifth-largest economy in the world tag by $13 billion")
High export tariff of 45% to make iron ore pellet export unviable: ICRA
"The application of this high export tariff has reduced a merchant exporter's net effective realisation, rendering pellet exports unviable," it said.
 "High export tariff of 45% to make iron ore pellet export unviable: ICRA")
CAD reduces sequentially to 1.5% of GDP in Q4 as trade deficit moderates
The current account was in deficit to the tune of $ 8.1 billion (1 per cent of GDP) a year ago (Q4 of FY21)
 "CAD reduces sequentially to 1.5% of GDP in Q4 as trade deficit moderates")
Auto ancillaries' revenue may grow 8%-10% in FY23 on stable demand: Icra
The revenues are expected to grow 8-10 per cent in 2022-23 on the back of a stable demand and likely easing of supply-chain concerns in the second half of the year, Icra said.
 "Auto ancillaries' revenue may grow 8%-10% in FY23 on stable demand: Icra")
India's trade deficit hits record high of $24.3 bn in May: Govt data
Preliminary estimates released earlier in the month had put the trade deficit at $23.3 billion
 "India's trade deficit hits record high of $24.3 bn in May: Govt data")
Asset quality in NBFCs, HFCs improves in Q4FY22 on lower slippages: Icra
The standard restructured book of NBFCs is estimated to have reduced to 2.7-3 per cent in March 2022 from the peak of 4.5 per cent in September 2021
 "Asset quality in NBFCs, HFCs improves in Q4FY22 on lower slippages: Icra")
Wage cost inflation may moderate IT players' profit margins by 1.5%
The shrinking will be over and above the narrowing of up to 3.50 per cent on the operating profit margin front for most IT companies in FY22
 "Wage cost inflation may moderate IT players' profit margins by 1.5%")
Yields on state govt bonds harden ahead of RBI policy announcement
Bond dealers said the hike in yields on state government paper was in line with the increase across the board - treasury bills, Government of India (GoI) bonds, and corporate paper
 "Yields on state govt bonds harden ahead of RBI policy announcement")
Collection efficiency for NBFCs, HFCs at 97-101% in April: Report
The collections had seen a modest decline of about 3 per cent following the third wave of infections in January 2022, but the recovery was prompt, Icra Rating said in a report.
 "Collection efficiency for NBFCs, HFCs at 97-101% in April: Report")
Int'l air passenger traffic to India to hit 80-85% of pre-Covid level: Icra
The volume of such travellers has already touched 72 per cent of the pre-Covid level in May
 "Int'l air passenger traffic to India to hit 80-85% of pre-Covid level: Icra")
India's retail inflation may be at 5.7-6.9% in FY23, say economists
This is after duty cuts on fuel; 25-50 bps repo rate hike likely in the MPC meet next week
 "India's retail inflation may be at 5.7-6.9% in FY23, say economists")
3rd-party insurance premium hike for 2-wheelers may not impact demand: ICRA
The upward revision in the third-party insurance premium for two-wheelers, which has come into force from June 1, is unlikely to materially impact the demand, credit ratings agency ICRA said
Centre's FY22 fiscal deficit at 6.7% vs revised estimates of 6.9%
April saw revenue surplus of Rs 591 crore
 "Centre's FY22 fiscal deficit at 6.7% vs revised estimates of 6.9%")
India's domestic crude oil production slips to 28-year low in FY22
Production declined every month for last 4-and-a-half years in core sector index; old fields among likely reasons
 "India's domestic crude oil production slips to 28-year low in FY22")
