niftify.in

Business Standard

US Fed rate cut to help emerging nations in taking similar step: CRISIL

The US Fed rate cut of 50 basis points will make it easier for the central bank in emerging countries, including India, to slash key policy rates, Crisil Chief Economist D K Joshi said on Thursday. Joshi also said Crisil is expecting food inflation to come down for FY25 if monsoon does not play spoilsport at the end of the season. "US Fed rate cut makes it easier for central banks in emerging countries, including India, to cut rates. But rate cuts in India, I think, will happen when there is a durable reduction in food inflation. And we do expect durable inflation to take place because higher than normal monsoon rains are playing out this year. So, the stars have aligned for rate cuts to happen in India," Joshi told PTI. "Our forecast is that the RBI may cut key policy rates within this calendar year," he said. Late Wednesday, the US Federal Open Market Committee voted to cut the federal funds rate target range by 50 bps to 4.75-5 per cent, from 5.25-5.50 per cent, against ...

Business Standard

Indian pharma sector set for 8-10% growth this fiscal: CRISIL Ratings

The sector is expected to benefit from steady cash flows and low financial leverage, which will help maintain stable credit profiles, even as pharma cos pursue acquisitions in niche therapeutic areas

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Euro India Fresh, BSE, Crest Ventures, Silgo Retail and Consol Const., hit their fresh 52-week highs during the day.

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE

Euro India Fresh, Silgo Retail, Consol Const., BSE and Heranba Ind, hit their fresh 52-week highs at 11:09AM.

The Economic Times

Limited Impact of Bangladesh's developments on India's FMCG, footwear & soft luggage sector: CRISIL

Recent developments in Bangladesh have had a limited impact on India's trade, according to a CRISIL report. Sectors like FMCG, cotton yarn, and footwear may see minor effects, while ship breaking and readymade garments could benefit. Prolonged disruptions could affect export-oriented industries with ties to Bangladesh.

The Economic Times

Axis Mutual Fund launches CRISIL-IBX AAA NBFC Index – June 2027 Fund

Axis Mutual Fund has introduced the Axis CRISIL-IBX AAA NBFC Index – June 2027 Fund, an open-ended Target Maturity Index Fund. This fund invests in the constituents of the CRISIL-IBX AAA NBFC Index – June 2027, offering moderate interest rate risk and relatively low credit risk. The fund is set to mature on June 30, 2027. The new fund offer is currently open for subscription and will close on September 23

Business Line

Silver Touch Technologies launches AI subsidiary for pharma sector

The company announced the formation of the subsidiary today

Business Standard

State Bank of India receives ratings action from CRISIL

CRISIL Ratings has also withdrawn its rating on Tier I bonds of Rs 3104.8 crore (See 'Annexure - Details of Rating Withdrawn' for details) in line with its withdrawal policy. CRISIL Ratings has received independent verification that these instruments are fully redeemed.

The Economic Times

IndiQube Gets ‘CRISIL A+’ Rating, reports Rs 68 crore in PAT for FY24

The company generated a revenue of Rs 841 crore for FY24 registering a 42% growth over Rs 592 crore reported in FY23. Its reported PAT more than tripled to Rs 67.7 crore in FY24 compared to Rs 20.6 crore in FY23.

The Economic Times

Jewellery stocks surge up to 18%, Crisil forecasts up to 25% revenue boost from import duty cut

Shares of Tribhovandas Bhimji Zaveri and PC Jewellers hit new 52-week highs, rising 18% and 5%, respectively, following a CRISIL report predicting a 22-25% revenue boost for retailers due to reduced gold import duties and better working capital management.

The Economic Times

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25 pc this fiscal: CRISIL report

A recent analysis by CRISIL Ratings, which examined 58 gold jewellery retailers representing a third of the organised sector's revenues, indicates that the sector will benefit from improved working capital management.

The Economic Times

Education loans to remain among fastest-growing segments for NBFCs: Crisil

Education loans for overseas courses are set to grow rapidly for non-banking financial companies (NBFCs) due to increasing demand for higher education. Crisil Ratings projects a 40-45% rise in assets under management, reaching over Rs 60,000 crore this fiscal. Despite country-specific concerns, asset quality remains stable.

The Economic Times

NFO Watch: Franklin Templeton Mutual Fund launches Medium to Long Duration Fund

The new fund offer (NFO) will be open for subscription from September 3 to September 17, with continuous sale and repurchase starting on September 26. The scheme, managed by Chandni Gupta and Anuj Tagra, will be benchmarked against the CRISIL Medium to Long Duration Debt A-III Index.

The Economic Times

Kotak Crisil-IBX AAA Financial Services Index – SEP 2027 Fund opens for subscription. Key things to know

Kotak Mutual Fund has introduced the Kotak Crisil-IBX AAA Financial Services Index – SEP 2027 Fund, an open-ended debt index fund targeting the CRISIL-IBX AAA Financial Services Index – Sep 2027. It has high interest rate risk, low credit risk, and will largely replicate the index.

Business Standard

CRISIL reaffirms rating of Kalpataru Projects; maintains 'stable' outlook

Kalpataru Projects International said that CRISIL Ratings has reaffirmed its 'CRISIL AA/Stable/CRISIL A1+' ratings on the bank facilities and debt programmes of the company.

Business Line

Auto dealers’ revenue to slow down: Crisil

Lower profitability and an increase in inventory will keep working capital debt elevated for dealers this fiscal

The Economic Times

Kotak Mutual Fund launches Crisil-IBX AAA Financial Services Index – SEP 2027 Fund

Kotak Mutual Fund has launched the Kotak Crisil-IBX AAA Financial Services Index – SEP 2027 Fund, an open-ended Target Maturity Debt Index Fund. It invests in CRISIL-IBX AAA Financial Services Index constituents, with a high interest rate and low credit risk.

The Economic Times

Net office leasing to grow 10-12% to 41-43 million sq ft this fiscal: CRISIL Ratings

Net leasing of Grade A commercial offices in India is projected to rise by 10-12% this fiscal, driven by strong demand from global capability centres, banking, financial services, insurance, and manufacturing sectors. This growth will improve cash accruals and credit profiles of commercial real estate entities. CRISIL Ratings highlights floor-wise denotification of SEZs aiding this trend.

Business Standard

Revenue growth of road EPCs to slow down to 5-7% by FY26: CRISIL Ratings

The operating profitability is supported by a 5 to 17 per cent decline in prices of key raw materials, steel and bitumen, from their peaks in FY22

CNBC TV18

Carysil UK arm to acquire remaining 30% in tap specialist Carysil Brassware for £350,000

UK-based Carysil Brassware specialises in designing bathroom and kitchen products, notably the ‘Instant Boiling Water Tap.’ The company's turnover stood at £1.21 million as of March 31, 2024. Shares of Carysil Ltd ended at ₹912.05, down by ₹10.05, or 1.09%, on the BSE.

The Economic Times

Road developers to see slower revenue growth of 5-7 pc next fiscal: Crisil

Road engineering, procurement, and construction (EPC) companies are expected to see a moderate revenue growth of 5-7 per cent next fiscal due to lower national highway awarding impacting their order books. Despite this, their credit profiles are expected to remain stable supported by steady operating profitability and strong balance sheets. The slowdown in growth is attributed to various factors including procedural issues and transition-related challenges as the government explores different project models. Prices of key raw materials have decreased, providing some relief.

Business Standard

Small Finance Banks' loan growth to lower to 25-27% in FY25: CRISIL Ratings

Small Finance Banks' (SFBs) loan growth will moderate to 25-27 per cent in FY25 against 28 per cent in FY24, a domestic rating agency said on Monday. Crisil Ratings said though a tad lower, the advances growth will be robust and driven by factors like segmental and geographical expansion by the entities. While capital buffers remain healthy, SFBs will face challenges in mobilising deposits and their costs and will explore alternative, non-deposit avenues to fund credit growth, the agency said. The asset growth will be driven by traditional microlending being the most popular and new ones like mortgages, small businesses or even unsecured loans. "Credit growth in new asset classes is seen at 40 per cent this fiscal, while that in traditional segments will be 20 per cent," its senior director Ajit Velonie said. He added that the share of new asset classes will cross 40 per cent by the end of March 2025 on the back of the faster growth and underlined that most of the asset ...

The Economic Times

Small finance banks credit growth expected to slow down to 26% this fiscal

Small finance banks' growth was expected to decelerate to 26% this fiscal year from 28% previously, as they explored alternative funding avenues, Crisil reported. Credit growth in new asset classes was seen at 40%, with diversification in loans such as mortgages and vehicle loans. Expansion in semi-urban and rural markets was a significant growth driver.

Business Standard

Quality control orders protect MSMEs from unfair competition: Piyush Goyal

The quality control orders (QCOs) issued by the government for different products will protect MSMEs from unfair competition and help cut the import of sub-standard goods, Commerce and Industry Minister Piyush Goyal said on Saturday. He said that through these orders, the government is supporting the MSMEs (micro, small and medium enterprises). "We are giving time to MSMEs to meet the QCO requirements," he said, adding that MSMEs will benefit from these orders as "it stops substandard goods imported at strange rates from outside the country and thus helps the MSME sector by protecting it from unfair competition". MSMEs should not be looked upon as merely a small enterprise, he added. The entire ecosystem around big industries and enterprises comprises thousands of MSMEs, without whom they cannot succeed, he said, adding that MSMEs act both as suppliers and customers of big industries. The sector also plays an important role in the tourism and infrastructure development of the coun

Business Standard

CRISIL reaffirms ratings of DCM Shriram at 'A1+'

DCM Shriram said that CRISIL Ratings has reaffirmed its 'CRISIL A1+' rating on the commercial paper of the company.

The Economic Times

Indian cement makers to invest Rs 1.25 lakh cr in 2 years to meet growing demand

The Indian cement industry is planning a capital expenditure of around Rs 1.25 lakh crore for FY25 to FY27 to meet increasing demand, according to a report by CRISIL. This will add 130 million tonnes of cement grinding capacity. The sector’s credit profiles are expected to remain stable due to low capex intensity and strong balance sheets. Major players such as UltraTech and Adani Group are leading the expansion. The top five cement manufacturers held around 54 per cent of the market share in FY24, indicating significant consolidation in the industry.

The Economic Times

Gold loan demand rises despite cash based disbursement curbs & price fluctuation

A Crisil analysis revealed that gold loans grew over 20% in June 2024 from the previous month. Banks and NBFCs maintained an LTV ratio of 60-65%. Disbursements for June were 12% higher than the previous quarter. The shift to digital channels for disbursements had only a minor impact on growth.

The Economic Times

Gold-loan NBFCs poised for growth despite regulatory changes and gold price fluctuations: CRISIL

Gold-loan NBFCs experienced reasonable growth in disbursements due to robust credit demand and operational resilience. The May 2024 RBI advisory limited cash disbursements over Rs 20,000, prompting a shift to digital channels. Despite a minor increase in turnaround time, gold-loan NBFCs saw a 12% rise in June disbursements.

Mint

5 stocks and key lessons learnt from the Big Bull - Rakesh Jhunjhunwala

Rakesh Jhunjhunwala's legacy in the Indian stock market highlights his unique blend of vision, patience, thorough research, and calculated risks. On his second death anniversary, key lessons from his investments in Titan, Lupin, CRISIL, Viceroy Hotels, and Aptech are being remembered.

The Economic Times

Renewable energy storage capacity to rise from 1 GW to 6 GW by 2027-28: Crisil

India's renewable energy storage capacity is projected to increase significantly to 6 GW by fiscal 2028, up from under 1 GW as of March 2024, according to Crisil Ratings. This surge is essential for managing the growing share of renewable energy in the power mix, which includes intermittent sources like solar and wind that require effective storage solutions.

The Economic Times

Aditya Birla Sun Life Mutual Fund launches CRISIL 10 Year Gilt ETF

The investment objective of the scheme is to generate returns corresponding to the total returns of the securities as represented by the CRISIL 10 Year Gilt Index before expenses, subject to tracking errors. The creation unit size for the scheme shall be 25,000 units and in multiples thereof.

The Economic Times

Tariff hikes to push telcos' ARPU to decadal high of Rs 225 in FY26: Crisil

The ARPU -- one of the most keenly tracked metric influencing the financial health of an entity -- will increase 25 per cent in FY26 when compared to FY24, it said.

The Economic Times

Rating firms monitoring MTNL as telco misses escrow transfer for bond payments

India Ratings & Research (Ind-Ra) is closely monitoring the financial situation of state-owned Mahanagar Telecom Nigam Limited (MTNL) after it failed to transfer sufficient funds to an escrow account for bond interest payments. This breach is deemed a default event, triggering a possible government guarantee invocation. MTNL issued bonds in July 2023, raising Rs 2,480 crore at 7.59% interest. Due to insufficient funds, MTNL couldn't fund the escrow account as required. Ind-Ra and CRISIL Ratings have downgraded MTNL’s unsupported ratings due to its deteriorating financial performance and delayed debt servicing.

The Economic Times

Crude prices to average at $83-88 in FY25, may increase govt fiscal burden: CRISIL

Crisil reports average crude oil prices are expected to rise to $83-$88 per barrel in fiscal 2025 from $83 in the previous year. This increase may strain India’s fiscal budget, given its reliance on crude imports. The report also projects India's real GDP growth at 6.8% for FY 2024-25 and anticipates a softened consumer price inflation at 4.5%. Despite challenges, a positive rural economic outlook is forecasted, buoyed by an expected above-normal monsoon.

Business Standard

FMCG sector to see 7-9% revenue growth this fiscal: CRISIL Ratings

The fast-moving consumer goods (FMCG) sector is expected to see revenue growth of 7-9 per cent this fiscal, according to a report released by CRISIL Ratings on Saturday. The expected revenue increase this financial year (2024-25) will be supported by higher volume growth on the back of a revival in rural and steady urban demand. The estimated growth of the FMCG sector in 2023-24 was 5-7 per cent. The report said product realisation is expected to grow in single digits with a marginal rise in prices of key raw materials for the food and beverage (F&B) segment. However, the prices of key raw materials for the personal care and home care segments are likely to be stable. CRISIL Ratings Director Rabindra Verma said, "Revenue growth will vary across product segments and firms. The F&B segment is expected to grow 8-9 per cent this fiscal, aided by improving rural demand. The personal care segment is likely to grow by 6-7 per cent, and the home care by 8-9 per cent." The FMCG players

Business Standard

FMCG sector may see 7-9% revenue growth in FY25 on rural recovery: CRISIL

The fast-moving consumer goods (FMCG) sector is expected to see a revenue growth of 7 to 9 per cent this fiscal, helped by higher sales volume and a revival of rural markets, Crisil Ratings said in a report. Volume growth from urban consumers will also remain steady at 7 to 8 per cent supported by rising disposable incomes and continued focus on premium offerings by the industry players, especially in the personal care and home care segments, it said. Moreover, the premiumisation trend and growth in volume will expand the operating margin of FMCG companies "by 50-75 basis points to 20-21 per cent", it said. "The margin expansion would have been higher but for rising selling and marketing expenses amid heightened competition among organised and unorganised players alike," the report added. The product realisations in FY25 are "expected to grow in low single digits with a marginal rise in prices of key raw materials for the food and beverages (F&B) segment", however, key raw ...

Hindustan Times

Revenues of top 18 states to grow 8 to 10% this fiscal: CRISIL

The growth will be primarily driven by robust GST collections and devolution of finances from the Centre, CRISIL said.

The Economic Times

Asian Paints doubles production capacity at Mysuru plant for Rs 1,3o5 crore investment

Asian Paints is investing heavily to expand production capacity at various plants. The company is doubling capacity at the Mysuru plant and increasing capacities at Ankleshwar, Kasna, and Khandala. Additionally, a new water-based manufacturing facility in Madhya Pradesh is underway. CRISIL Ratings forecasts a significant growth in the organized paints sector. Aditya Birla Group's new brand, Birla Opus, targets to secure the position of the second-largest player in the market.

The Economic Times

Viability gap funding set to boost offshore wind energy space: Crisil

The government's outlay, announced on June 19, includes Rs 6,853 crore for the installation and commissioning of 1 GW of offshore wind energy projects of 500 MW each off the coast of Gujarat and Tamil Nadu. It also has Rs 600 crore for augmentation of two ports to meet the logistics requirements for offshore wind energy projects farms and encourage developers to enter this space.

The Economic Times

Aditya Birla Sun Life Mutual Fund launches Crisil Broad Based Gilt ETF

Aditya Birla Sun Life Crisil Broad Based Gilt ETF NFO, managed by Kaustubh Gupta, offers income through gilt securities with moderate risk. Subscription open until July 1, suitable for investors seeking exposure to CRISIL Broad Based Gilt Index.