Credit ratings agency Crisil on Tuesday said it expects to increase its rated portfolio in the small and medium enterprises (SME) segment by 10 folds in the next 3-4 years.
Indian firms have become more credit-worthy in the current fiscal on better profitability and funding access, rating agency Crisil said on Thursday.
The fast upward movement in the capital markets, which saw the Sensex touching 3-1/2 year high last week, was due for correction in the short term, credit rating agency Crisil said on Tuesday.
The Crisil study covered 600 companies excluding financial services and oil companies, representing 71 per cent of the overall market capitalisation of India Inc.
CRISIL reaffirms P1+ rating to Nahar CP.
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
Crisil said a complete phase out of CST is necessary.
The rating agency has released the study on its ratings experience in the default and transition ratings of both short-term and structured securities in the country in the last 16 years. The data used for the study covers a period of weakened credit quality (1995-1999) as well as one of improving credit quality (2000-2007).
International rating agency Standard & Poor's has become the majority shareholder of Indian credit rating agency Crisil Ltd with 58.5 per cent stake, after it acquired 49.07 per cent shares during its recent open offer.
The Credit Rating Information Services of India Ltd (Crisil) has reaffirmed its ratings of three different fund raising programmes of Tata Iron and Steel Company Ltd (Tisco).
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
Rating agency Crisil has revised downwards the Indian GDP growth forecast for FY09 to 8.1 per cent, from the earlier 8.5 per cent, in view of the high inflationary conditions, interest rate and global growth outlook.However, despite the growth deceleration, Crisil expects inflation to stabilise at an average 5.5 per cent in 2008-09 in a normal monsoon scenario, the agency said.
In line with other rating agencies and economic organisations, Crisil on Friday forecasted 7.1 per cent economic growth in the wake of an excellent monsoon, but warned that the fiscal deficit would overshoot the target besides lower export growth.
The agency has predicted that monsoon will also be a major factor.
Higher growth in vegetable demand relative to supply in the recent past has led to an upward trend in inflation, with spikes becoming more frequent. A study by rating agency Crisil found that vegetable inflation has been the most volatile in the food category, in fact. Inflation volatility is detrimental for both consumers and farmers and also sidetracks policymakers in the short term, necessitating frequent and repeated price-smoothing measures.
Megha Engineering and Infrastructure, the little-known Hyderabad-based firm that in recent years won the prestigious Zojila tunnel deal among other projects, forayed into city gas and acquired a media group, was the second largest donor to political parties using electoral bonds.
The government on Thursday ruled out giving another extension to various states for unbundling their electricity boards as part of measures to encourage non-government entities in the power sector.
The current capital flight is a short-term phenomenon, the agency said.
IT services firms' revenue growth in the fourth quarter will be affected by macro-driven headwinds, lower working-days, and the fact of the three-month period being low season. Analysts are expecting FY24 growth to be muted. Revenue growth will decline 600-700 basis points to 10-12 per cent for FY24, said a CRISIL Ratings report. The 10-12 per cent growth rate is a fall from the 18-20 per cent expected in FY23 and around 19 per cent growth in FY22, the highest in eight years, said the CRISIL Ratings report.
The domestic currency will appreciate to touch the 50 level by next March provided certain measures are taken by the government urgently, the rating agency's research wing said in a note.
"The examination will cover several aspects, including standalone profiles of the Indian subsidiaries, our assessment of the strength and quality of parent support, and translation of global ratings to the Crisil scale," Crisil Ratings Senior Director Raman Uberoi said.
Credit rating agency Crisil has announced that it has reached a preliminary understanding with Equifax Inc of the US, and Tata Capital Ltd to set up a credit information company, which provides credit histories and checks on retail borrowers.
Crisil said the next fiscal could be a year of new leadership and old challenges.
FMPs remain an option for investors who believe interest rates could head downward over time and wish to lock in the current rates. TMFs have very low expense ratios, which makes them cost-efficient.
Rekha Jhunjhunwala's net worth has increased by more than 7 per cent, or Rs 2,865 crore, compared to less than 1 per cent rise in the BSE Sensex.
Indian IT-enabled services companies can attain high profitability in the long term and growth of such services will be highly sustainable, according to report by CRIS INFAC, subsidiary of CRISIL.
CRISIL upgrades ratings for IPCL debt plan.
The agency had in May projected an economic growth between 7.7 and 8 per cent for this fiscal and Monday's revision comes within a week of rival Fitch Ratings, and Citigroup revising the same to 7.5 per cent from 7.7.
Strong demand in the domestic market, coupled with an increase in raw material prices, is pushing up steel prices. According to SteelMint, a market intelligence and price reporting firm, the list price of flat steel has seen an increase of Rs 750-2,000 per tonne for October deliveries. The long steel price witnessed an increase of Rs 1,500 per tonne towards the end of September.
The profitability of public sector banks would decline by over 40 per cent by 2005-06 due to re-pricing of the government securities portfolio, credit rating agency Crisil said.
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The agency also warned the government of overshooting the fiscal deficit target at 4.8 per cent due to poor revenue growth and pegged it at 5.2 per cent this fiscal.
Any government support or incentive to help exporters deal with high freight and insurance costs is unlikely.
The bidding for four spectrum bands is scheduled to start from March 4.
The Centre recently released the first advance estimates of kharif crops that, barring tur dal, showed a dip in production due to uneven monsoon and other natural calamities including pest attacks in cotton. The first Advance Estimates, released a few weeks back, are usually initial projections on the crop size and, more often than not, are revised as more inputs come from the fields. But, the findings have rung alarm bells in several quarters. The Centre, along with many others, is confident that as more details come, the estimates will be revised upwards.
Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.
If El Nino condition affects the monsoons, as is being forecast by foreign agencies, it can slow down the economy to 5.2 per cent next fiscal from a projected 6 per cent.
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