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Domestic air passenger traffic logs estimated 83 per cent growth in April, says ICRA
Business

Domestic air passenger traffic logs estimated 83 per cent growth in April, says ICRA

Indian carriers had flown around 11 million passengers in April 2019

India's real GDP likely to maintain 9% growth rate in FY2022, FY2023 amid Omircon threat: Icra
India

India's real GDP likely to maintain 9% growth rate in FY2022, FY2023 amid Omircon threat: Icra

The rating agency believes that rising consumption will push capacity utilisation above the crucial threshold of 75% by the end of 2022

ICICI Bank shares rise by over 14% after record high quarterly profit
Business

ICICI Bank shares rise by over 14% after record high quarterly profit

Total income also rose to Rs 26,031 crore in July-September period of 2021-22, as against Rs 23,651 crore in the same quarter of the previous fiscal year, ICICI Bank said in a regulatory filing

COVID-19 second wave derailed recovery momentum of Indian auto industry, says ICRA report
Business

COVID-19 second wave derailed recovery momentum of Indian auto industry, says ICRA report

The domestic two-wheeler volumes in 2021-22 are expected to grow 10-12 percent now as against 16-18 percent earlier while the passenger vehicle segment may see 17-20 percent growth now as against 22-25 percent expected earlier, the rating agency said

GDP to be in growth territory in Oct-Dec, signifies exit from COVID-induced recession, says ICRA report
Business

GDP to be in growth territory in Oct-Dec, signifies exit from COVID-induced recession, says ICRA report

Private consumption and government spending will help the economy post a turnaround during the December quarter and the GDP will grow 0.7 percent, the ratings agency said

WPI-based inflation rises to 2.03% in January on non-food manufactured items, food prices ease
Business

WPI-based inflation rises to 2.03% in January on non-food manufactured items, food prices ease

ICRA principal economist Aditi Nayar said a deeper disinflation in primary food articles helped to cushion the impact of the sharp rise in core inflation, which reached a 27-month high of 5.1 percent in January

Moderate participation expected in spectrum auctions; telecom industry's debt to elevate at Rs 4.6 lakh cr in FY21: ICRA
Business

Moderate participation expected in spectrum auctions; telecom industry's debt to elevate at Rs 4.6 lakh cr in FY21: ICRA

Rating agency ICRA expects moderate participation for the upcoming spectrum auctions at Rs 55,000-Rs 60,000 crore due to the limited financial flexibility of the industry

Coronavirus Lockdown: ICRA expects GDP to contract by 20% in June quarter; 2% fall in current fiscal
Business

Coronavirus Lockdown: ICRA expects GDP to contract by 20% in June quarter; 2% fall in current fiscal

After the government announced graded relaxations in the lockdown, domestic rating agency ICRA on Monday estimated that the country's GDP might contract by as much as 20 percent in the June quarter and is expected to overcome some lost ground in the remainder of the year but still close 2020-21 down by up to 2 percent

Ahead of Akshaya Tritiya, gold jewellery retail industry to be credit negative in short term due to lockdown: ICRA
Business

Ahead of Akshaya Tritiya, gold jewellery retail industry to be credit negative in short term due to lockdown: ICRA

The coronavirus outbreak and the lockdown ahead of Akshaya Tritiya is a credit negative for the gold jewellery retail industry in the short term, according to ICRA

Passenger vehicle dispatches likely to decline by 10-12% in ongoing fiscal due to Covid-19 : ICRA
Business

Passenger vehicle dispatches likely to decline by 10-12% in ongoing fiscal due to Covid-19 : ICRA

Domestic passenger vehicle (PV) dispatches are likely to decline by 10-12 percent in the current financial year due to COVID-19 pandemic, rating agency ICRA said on Friday

Coronavirus Outbreak: Analysts flag economic growth concerns post-lockdown extension
Business

Coronavirus Outbreak: Analysts flag economic growth concerns post-lockdown extension

The 19-day extension of the lockdown on Tuesday by Prime Minister Narendra Modi led analysts to flag concerns over its economic impact, with some estimating a GDP contraction of 1 percent in FY21 as well

Coronavirus Outbreak: ICRA maintains negative outlook for construction sector for near term
Business

Coronavirus Outbreak: ICRA maintains negative outlook for construction sector for near term

Ratings agency ICRA has maintained a negative outlook for the construction sector for the near term, with revenues and order flows being significantly impacted in Q1 of the current fiscal due to the COVID-19 crisis

Coronavirus Outbreak: Gross state borrowings to touch Rs 7.8 lakh cr in current fiscal, says ICRA
Business

Coronavirus Outbreak: Gross state borrowings to touch Rs 7.8 lakh cr in current fiscal, says ICRA

ICRA has said states with the higher patient count, returning migrant labour, as well as a greater dependence on GST compensation, will face the sharper risk of fiscal slippages this fiscal

Coronavirus Outbreak: Commercial vehicle sales likely to contract 8-10% further in FY21, says ICRA
Business

Coronavirus Outbreak: Commercial vehicle sales likely to contract 8-10% further in FY21, says ICRA

The agency said it continues to maintain a negative outlook for the commercial vehicle segment over the near-term.

Coronavirus Outbreak: Supply chain shock will have negative impact on Indian auto component sector: ICRA
Business

Coronavirus Outbreak: Supply chain shock will have negative impact on Indian auto component sector: ICRA

Rating agency ICRA on Friday said the supply chain shock due to the coronavirus pandemic will have a negative impact for Indian auto component industry

Coronavirus Outbreak: ICRA says credit quality of Indian firms worsened in FY20; warns increase in stressed assets in FY21
Business

Coronavirus Outbreak: ICRA says credit quality of Indian firms worsened in FY20; warns increase in stressed assets in FY21

Domestic credit rating agency ICRA said credit quality of Indian companies worsened in the fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of "unprecedented strain" on credit profiles of corporates due to the coronavirus pandemic

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA
Business

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA

Despite the Reserve Bank of India's (RBI) massive actions to spur the economy, India's gross domestic product (GDP) is likely to contract by 4.5 percent in the April-June 2020 quarter and will rise by only 2 percent in 2020-21 on the coronavirus impact, according to domestic rating agency ICRA

ICRA says Yes Bank still requires up to Rs 13,000 cr in 1-2 years, upgrades various bond programmes
Business

ICRA says Yes Bank still requires up to Rs 13,000 cr in 1-2 years, upgrades various bond programmes

Even as Yes Bank''s capital position has improved considerably after fund infusion under its reconstruction plan, it will require an additional Rs 9,000-Rs 13,000 crore in the next 1-2 years, ratings firm ICRA said on Wednesday

Coronavirus Outbreak: ICRA downgrades Indian hospitality sector from stable to negative outlook; hotel occupancy falls over 40%
Business

Coronavirus Outbreak: ICRA downgrades Indian hospitality sector from stable to negative outlook; hotel occupancy falls over 40%

ICRA expects the travel and tourism industry to witness one of the longest tail periods of impact, potentially running into multiple quarters, following the COVID-19 wave.

Indian aviation sector outlook remains 'negative' amid coronavirus outbreak: ICRA report
Business

Indian aviation sector outlook remains 'negative' amid coronavirus outbreak: ICRA report

The outlook for India's aviation industry remains "negative" in the wake of coronavirus outbreak, which has resulted in many international passengers cancelling their travel to South East Asian countries, according to rating agency ICRA