Page 6 - India Ratings

Ind-Ra revises Vedanta's credit outlook to stable from negative

The ratings agency also affirmed the company's long-term issuer rating

States' fiscal deficit to narrow to 4.3% of GDP in fiscal 2022: Report

The aggregate fiscal deficit of states is likely to be at 4.3 per cent of the GDP in 2021-22 compared to 4.6 per cent in 2020-21, says a report by India Ratings and Research

India's GDP to bounce back to 10.4% growth in FY22, says India Ratings

The YoY recovery in FY22 will be V-shaped, but the size of GDP will barely surpass the level attained in FY20

Base Effect: India's FY22 GDP expected to grow 10.4%, says Ind-Ra

The growth will be primarily driven by the base effect, said India Ratings and Research (Ind-Ra)

Power generation may further improve in fourth quarter: Ind-Ra

Power generation in the country would continue to grow in fourth quarter of this fiscal year, rating agency Ind-Ra said in a report

RBI's NBFC paper silent on liquidity management, says India Ratings

The paper has not said whether the cash reserve ratio (CRR) and statutory liquidity ratio (SLR) will be applicable to upper layers of NBFCs

RBI proposals to restrict land financing by NBFCs: India Ratings Report

The Reserve Bank's proposals on restricting specific real estate funding by NBFCs will affect land financing by them, the report said

Ind-Ra downgrades Safety Controls & Devices to 'BB' with negative outlook

India Ratings and Research (Ind-Ra) has downgraded Safety Controls & Devices Pvt Ltd's (SCDPL's) long-term issuer rating to BB with a negative outlook from BB-plus.The company is a leading engineering, procurement and construction contractor of sub-station and fire protection engineers in north India.Ind-Ra said the downgrade reflects a significant decline in SCDPL's revenue in FY20, leading to deterioration in its EBITDA and credit metrics.The revenue plunged to Rs 26 crore in FY20 from Rs 101 crore in the year-ago period due to slower pace of execution of orders. The land availability issues were further aggravated by Covid-19 led supply chain disruptions.Till December 2020, SCDPL executed only Rs 10 crore of its order book worth Rs 269 crore. About 30 per cent of the total projects are slow-moving due to land availability issues in Bihar.The negative outlook reflects Ind-Ra's expectation of a continued low revenue and an elongated working capital cycle in FY21, leading to ...

Hybrid renewable tariffs likely to continue at premium, says Ind-Ra

The upcoming wind-solar hybrid auctions will spark cautious optimism among independent power producers, India Ratings and Research (Ind-Ra) said

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

IFB Industries rallies 57% in a month on healthy growth outlook

India Ratings and Research (Ind-Ra) recently affirmed IFB Industries' long-term issuer rating at 'IND AA-' with a stable outlook

Commercial vehicle sales may take longer to recover than expected: Ind-Ra

Commercial vehicle sales in India could take longer to recover than expected despite improving macro-economic indicators, according to India Ratings and Research (Ind-Ra)

Ind-Ra upgrades ratings for Lodha Developers group company Macrotech

Macrotech Developers' leverage and sales are expected to improve from FY22, helping its outlook

Ind-Ra revises projection for economic contraction to 7.8% for FY21

Ind-Ra projections are close to the RBI's expectation of 7.5 per cent GDP growth rate in the current financial year

India Ratings takes 3 finance firms off rating watch negative list

MMFSL maintained sufficient liquidity buffers to make timely debt repayments, even when collections declined

Little co-relation between health spend and Covid-related results: Ind-Ra

While hospitals and beds are essential to manage case load, administrative intervention is a must for mass-scale testing and arresting the spread of the disease, the report says

Mid-corporates staring at 16% revenue drop in 2020-21, says India Ratings

In its previous forecast in May, the agency had forecast 6.02 per cent fall in aggregate revenue.

Automobile sales may fall 20-25% this fiscal, says India Ratings

Rating agency Ind-Ra expects automobile sales to decline by 20-25% this fiscal against its earlier forecast of 22-25% on account of increasing preference for personal mobility

India Ratings maintains negative outlook on base metals sector for H2 FY21

Agency says business disruptions led by Covid-19 likely to persist over next 6-9 months; realisations likely to remain volatile over H2 of FY21

India Ratings maintains negative outlook on domestic steel sector

Expects an operational recovery to pre-Covid-19 levels in second half of FY22, though large players could recover earlier