Covid related drugs contributed 40% of the pharma market last year
The rating agency's assessment showed the yield on benchmark 10-year government bonds rose 66 basis points in FY22 to close at 6.84 per cent from 6.18 per cent at the end of March 2021
Ratings agency India Ratings and Research (Ind-Ra) on Wednesday revised India's FY23 forecast downwards to 7-7.2 per cent.
Domestic automobile sales volume is expected to grow 5-9 per cent year-on-year in 2022-23, after three consecutive years of decline, and is likely to fall 5-8 per cent in 2021-22: India Ratings
India Ratings said that according to the revised estimates, the GDP growth in FY20 now stands at 3.7 per cent compared to 4 per cent earlier.
India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 per cent from the consensus 9.2 per cent projected earlier. The National Statistical Organisation (NSO), which has forecast 9.2 per cent real GDP growth for the year, will release the second advance estimate of national income on Monday. According to an India Ratings analysis, NSO is likely to peg the FY22 real gross domestic product growth at Rs 147.2 lakh crore. This translates into a GDP growth rate of 8.6 per cent, down from 9.2 per cent forecast in the first advance estimate released on January 7, 2022. The major reason for the likely downward revision is the upward revision of FY21 GDP to Rs 135.6 lakh crore in the first revised estimate of national income for FY21, which was released on January 31, 2022, the agency said. As a result, GDP for FY21 is improved to (-) 6.6 per cent from the provisional estimate of (-)7.3 per cent released on May 31, 2021. Besides this, the second revised estimate of
India Ratings has revised upwards its outlook on the microfinance sector to 'neutral' from 'negative' next fiscal, on the back of a revival in growth that could clip at 30 per cent. The agency expects the sector to grow 20-30 per cent in both FY22 and FY23 in comparison to the below 10 per cent AUM (assets under management) growth in the previous two years. Given the yield limitations, mid- and small-MFIs have not seen comparable growth. While large MFIs will continue with their normal disbursement trends and new customer acquisitions as normalisation happens in FY22 and FY23, small- and mid-ones will ramp up their activities once the harmonisation guidelines are implemented. The agency see that the impact of the pandemic on credit cost has been largely absorbed by now, and there is a likelihood of normalised growth for these small lenders. Also, their collections, especially those disbursed after the pandemic, have recovered and refinance has become relatively easy now. Another ..
Revising outlook on state finances to improving in FY23 from, Ind-Ra expects the aggregate fiscal deficit of states to stand at 3.6% of their GDP from 3.5% in FY22 on back of robust revenue growth.
Key financial metrics are likely to continue to show improvement in FY23, backed by strengthened balance sheets, an improving credit demand outlook and expected commencement of corporate capex cycle.
JSW Energy on Monday said that India Ratings has upgraded its long-term credit rating to IND AA (stable) from IND AA- (stable).
Ind-Ra has maintained a 'neutral' outlook for the power sector for FY23 and expects the demand growth to come back to a normal level of 6 to 7 per cent in the next fiscal year.
The philosophy appears to be addressing the unemployment issue through increased capex, which will have a multiplier impact on the economy
The ratings agency said it estimates investments, as measured by gross fixed capital formation (GFCF), to grow 8.7 per cent YoY in FY23
The outlook revision reflects a likely improvement in the operational cash flow for FY22 and FY23 because of a significant increase in the operating profitability, says rating agency
The ratings agency said that reducing exposure to loss-making overseas units, sustained positive free cash flows at European operations are positives for the steelmaker
India Ratings and Research launched its integrated disclosure that shows how environmental, social, and governance (ESG) factors impact individual credit rating decisions
These disclosures will be part of rating action commentaries for all entities having listed securities, says the rating agency
This is because cold storage capacity has barely kept pace with the requirement, according to the report.
Capacite Infraprojects provides engineering, procurement and construction/turnkey solutions for housing, high rises, super high rises, speciality buildings and urban infrastructure
Retains lowest investment grade rating