Market News
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India's securitisation market may grow to ₹2.7 lakh crore in FY27: ICRA lists key growth drivers
India's securitisation market to hit ₹2.7 lakh crore by FY2027, driven by NBFCs. ICRA reports strong Q1 growth, gold loans lead asset classes.
Power transmission projects to face execution risks on land acquisition, regulatory approval challenges: Icra
Power transmission projects face significant execution risks and delays. Land acquisition and regulatory approvals hinder timely project completion. These delays impact renewable energy developers and their financial returns. The sector expects substantial capacity additions by 2032. However, execution challenges persist for future projects.
ICRA reaffirms ratings of Greenpanel Industries at 'A+' with 'negative' outlook
Greenpanel Industries said that the credit rating agency ICRA has reaffirmed the company's long-term rating at '[ICRA] A+ (Negative)'.
Icra cuts Utkarsh Small Finance Bank ratings on weak asset quality
Icra downgraded Utkarsh Small Finance Bank's debt ratings, citing elevated bad loans, weak earnings and rising stress in its microfinance portfolio. High credit costs, fresh slippages and lower operating profitability weighed on the lender despite improving collection efficiency.
No smooth landing: ICRA sees Indian airlines' losses widening to Rs 38,000 crore in FY27
India's aviation sector faces a grim outlook, with ICRA projecting net losses to skyrocket to ₹36,000-38,000 crore in FY27. This sharp revision stems from a weaker rupee, soaring fuel costs, higher aircraft lease rentals, and subdued passenger demand, exacerbated by the West Asian conflict. Airlines are struggling to pass on rising operational expenses, leading to a significant downgrade in traffic growth forecasts for both domestic and international routes.
West Asia conflict may pressure hospitality occupancy, warns ICRA; FY27 estimate at 72-74%
Hospitality sector occupancy is projected at 66-68% for early FY27, rising to 72-74% for the full year, according to ICRA. However, prolonged West Asia conflict could impact these figures, particularly business travel. Despite geopolitical concerns, hotel chains are reporting robust double-digit revenue growth, with some anticipating continued strong performance. A potential shift from international to domestic travel might also boost local spending.
Indian two-wheeler industry to see moderate growth at 3-5% in FY27: ICRA
India's two-wheeler sector anticipates a modest 3-5% wholesale volume growth in FY27, according to ICRA. While domestic demand and exports remain strong, challenges like a high base, potential weak monsoon, and inflation-driven price hikes could temper expansion. The electric two-wheeler segment, however, continues its impressive surge, capturing significant market share and demonstrating growing consumer acceptance.
ICRA reaffirms ratings of Rajratan Global Wire at 'A+' with 'stable' outlook
Rajratan Global Wire said that the credit rating agency ICRA has reaffirmed the company's long-term rating at '[ICRA] A+' with 'stable' outlook.
Domestic tractor wholesale volumes likely to grow at 1-4% in FY27: ICRA
Tractor sales are set for modest growth this fiscal year. However, a below-normal monsoon forecast poses a risk to agricultural output and sales. Despite this, manufacturers' margins are expected to remain healthy. Strong farm cash flows and government support continue to underpin the sector. Industry growth may moderate due to an elevated base and potential El Nino conditions.
Vodafone Idea shares rally 7% to fresh 52-week high despite market crash. What's behind the surge?
Vodafone Idea shares surged nearly 7% to a new 52-week high after ICRA upgraded the telecom operator’s rating and revised its outlook. Investor sentiment was further boosted by lower AGR dues, promoter support from the Aditya Birla Group and Citi removing its ‘High Risk’ tag while maintaining a bullish outlook.
Vodafone Idea soars 6%, hits 20-month high; stock zooms 75% in 2 months
The capex execution, along with an expected industry tariff rationalisation over the next 12-24 months and improving network quality, are expected to support ARPU improvement and growth, believes ICRA
Vedanta, Hindustan Zinc shares fall over 1% after metals giant confirms ED visits to offices
Vedanta and Hindustan Zinc shares dipped after the Enforcement Directorate visited some of their offices as part of a FEMA probe. The companies confirmed the visits and stated they are fully cooperating with the authorities. This news comes after Vedanta's recent demerger and a positive rating upgrade from ICRA.