The domestic cigarette industry is expected to see a 6-8 per cent volume contraction next fiscal following the imposition of additional excise duties and increase in goods and services tax (GST) rates from February 1, Crisil Ratings said on Wednesday.
CRISIL Ratings on Thursday placed the long-term bank facilities and debt instruments of Vedanta Limited under 'rating watch with negative implications', the agency said in a press statement. CRISIL said the ratings may also be downgraded if Vedanta is not able to bring down its end-of-year financial leverage to below 2.7 times through asset monetisation, which is to be completed by December this year.
India's toll collection growth is projected to moderate to 5-7 per cent year-on-year in FY27, a 150-200 basis points reduction, primarily due to the economic impact of the West Asia conflict and a slowdown in commercial traffic, according to Crisil Ratings.
The Indian corporate sector demonstrated strong credit quality in the first half of FY27, driven by robust balance sheets and healthy liquidity, despite facing risks from elevated crude prices, inflation, and global interest rates.
India's organised gold jewellery retail sector is projected to experience a 13-15 per cent year-on-year decline in sales volumes this fiscal, following an 8 per cent drop last year, due to elevated gold prices and a recent import duty hike, according to a Crisil report.
The Reserve Bank of India's Monetary Policy Committee (MPC) has commenced its three-day meeting, with a majority of economists and bankers anticipating a 25 basis point rate hike to counter escalating inflation risks, particularly from West Asia conflicts.
Rating agency, Crisil, on Friday said that the proposed investment towards 3G auctions are unlikely to impact credit profiles of Crisil-rated telecom operators.
India's securitisation market achieved its highest-ever first-quarter performance, reaching approximately 60,000 crore, a 22 per cent year-on-year increase, primarily driven by Non-banking financial companies (NBFCs) and a significant surge in gold loan securitisation.
India's cement industry is on the brink of an oversupply situation as aggressive capacity expansion by major players is set to outpace demand growth over the next two financial years, potentially leading to pricing pressures and moderated utilisation rates.
India's retail inflation surged to 5.54 per cent in September, primarily due to a significant increase in onion and other food prices, remaining just within the Reserve Bank of India's tolerance band. This marks the highest inflation since the new series with base year 2024 took effect in January.
Rural commercial vehicle (CV) registrations have consistently outpaced urban sales from April to July 2026, driven by a significant diversification of the rural economy and the positive impact of GST-led consumption, according to experts and data from Fada.
CRISIL Ratings predicts that the share of bank loans in NBFCs' overall borrowings will increase to 44-45 per cent by FY27, driven by elevated bond yields and softening bank lending rates.
India's 18 largest states, accounting for over 90 per cent of the country's gross state domestic product (GSDP), are likely to record a marginal uptick in revenue growth to 7-9 per cent this year, from 6.6 per cent clocked in 2024-25 (FY25), rating agency Crisil said in a report on Tuesday. This growth, slower than the decadal average of about 10 per cent, would lift these states' cumulative revenue to around Rs 40 trillion in FY26 from Rs 37.26 trillion in FY25.
India's leading passenger vehicle manufacturers are significantly increasing investments and factory capacities, alongside planning major product launches for FY27, driven by strong confidence in sustained domestic demand growth despite global geopolitical tensions and supply chain risks.
India's retail inflation, measured by the Consumer Price Index (CPI), rose to 4.45 per cent in July, up from 4.38 per cent in June, primarily due to higher food prices, particularly onions and ginger. This marks the second consecutive month the inflation rate has remained above the Reserve Bank's median target.
India's largest retirement fund manager, the Employees' Provident Fund Organisation (EPFO), is enhancing its investment governance and fund management practices, following the Reserve Bank of India's recommendations.
India's retail inflation rose to 4.38 per cent in June, driven primarily by costlier food items, pushing it above the Reserve Bank of India's median target of 4 per cent for the first time under the new series.
Indian oil-marketing companies (OMCs) have incurred LPG underrecoveries of approximately Rs 22,000 crore between March and May 2026, as domestic cooking gas prices failed to keep pace with surging international rates exacerbated by the West Asia crisis, according to a Crisil report.
Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin.
Bank lending to companies is expected to go up in the coming quarters because the difference in interest rates between corporate bonds and bank loans has narrowed. In addition, recent policy reforms by the Reserve Bank of India (RBI), including allowing domestic banks to do acquisition financing, are expected to give further support to corporate lending, analysts said.
Indian cement manufacturers, despite a stable Q4FY26, are bracing for significant profitability pressures from Q1FY27 onwards due to escalating input costs, primarily driven by the West Asia conflict's impact on coal and petcoke prices.
The Indian corporate bond market witnessed a significant surge, with companies raising nearly Rs 16,000 crore in a single day, primarily led by state-owned financial institutions and NBFCs. This strong momentum, driven by improved borrowing conditions and investor confidence, is expected to persist.
Two-wheeler sales volume is expected to grow 5-6 per cent this fiscal, while that of passenger vehicles to see a 2-3 per cent rise, following the GST rates rationalisation on automobiles, according to Crisil Ratings. The GST Council's decision to move to a two-rate structure of 5 per cent and 18 per cent, effective September 22, 2025, is a timely move that will revive demand for automobiles, Crisil Ratings said in a statement.
India's economy in FY26 saw significant momentum from investment demand, with gross fixed capital formation (GFCF) accelerating to 8.2 per cent, while private final consumption expenditure (PFCE) also grew steadily, according to provisional estimates.
Companies are already diversifying sourcing, raising prices, and reworking operating models as the disruption drags on.
Credit quality of Indian corporate is expected to be stable in the second half of the current financial year (H2FY26), supported by easing monetary cycle, and declining inflation, coupled with income-tax relief and rationalisation of the goods and service tax (GST) rates, among others.
Petrol and diesel prices in India have been increased for the second time in a week, following a long freeze on revisions. The increase comes as global crude prices surge and state-run oil firms look to recoup losses.
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
Indian companies are increasingly opting for demergers, with 29 deals valued at over $40 billion in 2025 alone, marking a 10-year high, as promoters and boards recognise that markets favour focused businesses over complex conglomerates.
India's passenger vehicle (PV) industry is projected to experience moderated growth in FY27, following a strong rebound in H2FY26, primarily due to the high base effect, absorbed pent-up demand, and the lingering impact of geopolitical tensions in West Asia.
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
Non-banking financial companies (NBFCs) such as Bajaj Finance, Shriram Finance, Muthoot Finance, and IIFL Finance have regained their growth momentum after losing market share to banks in the post-Covid period. The growth surge is being led by diversified lenders and gold-loan companies while development-finance institutions such as Power Finance Corporation (PFC), REC, and Housing & Urban Development Corporation (Hudco) continue to grow at a slower pace.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at $250 billion and it creates over 50 lakh direct jobs.
Crisil Real Estate Ratings provide city specific all-round assessment of real estate projects and help buyers benchmark and identify quality projects within their cities.
India's power demand rose 4.5 per cent year-on-year (Y-o-Y) to 143 billion units (BUs) in January, marking the highest consumption for the month since 2010, primarily on the back of severe cold wave conditions across northern and eastern regions of the country.
Leading credit ratings agency, Crisil, on Thursday launched real estate ratings, a first by any organisation in India, which would help common buyers make informed purchases in the sector in need of greater transparency.
The operating profit growth rate of mobile service providers is expected to double in next two years buoyed by increase in call rates and clarity in policy, credit rating agency CRISIL has said.
Ahead of the key meeting called by the steel ministry with the industry captains on Monday to discuss the impact of rising steel imports, companies have raised the issue of cheaper 'substandard' inflows from China, Vietnam, and South Korea, saying they are setting the benchmark for domestic prices and squeezing the profitability of Indian producers.
