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The Latest Breaking News from ICRA

CMR Green Tech’s Rs 630 cr IPO opens for bidding: Check GMP, brokerages review and other details

CMR Green's IPO is generating significant buzz, with a strong grey market premium suggesting robust investor interest. The company, a leader in non-ferrous metal recycling, is poised to benefit from the growing demand for sustainable manufacturing. While analysts note its strong market position, concerns about the offer structure and margins…

The Economic Times

Vedanta shares fall after media reports of ED searches at Mumbai, Delhi office

Vedanta shares dipped over 1% following reports of Enforcement Directorate searches at its offices concerning royalty payments to its parent company. This comes after a significant corporate restructuring involving the demerger of several business units. Despite recent rating upgrades, the stock remains under scrutiny.

The Economic Times

A ₹3 lakh crore rain check? India’s monsoon now comes with a Hormuz fine print

India’s fertiliser supply chain is under strain as the West Asia conflict disrupts shipping through the Strait of Hormuz, a critical route for imports. The crisis comes just as India faces a below-normal monsoon forecast, with the IMD projecting rainfall at 90% of the long-term average and a 92% probability…

The Economic Times

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Vedanta secures highest credit rating in over decade following ICRA Upgrade

Vedanta Group achieved its highest domestic credit rating in over a decade. ICRA upgraded key group entities, Vedanta Ltd and Vedanta Aluminium Metal Ltd, to AA+ with a stable outlook. This upgrade reflects strong operational performance and a robust financial profile. The rating signifies high safety for financial obligations and…

The Economic Times

The billionaire shakedown: How India changed its 'default' settings

India's decade-old Insolvency and Bankruptcy Code has revolutionized corporate finance, ending a 'defaulter's paradise' and recovering trillions. While significantly boosting financial stability and economic growth, the law now faces challenges from judicial delays. Recent amendments aim to address these bottlenecks, ensuring the code's continued effectiveness in safeguarding India's economic progress.

The Economic Times

Vedanta shares jump 2% to hit fresh 52-week high. What’s behind the surge?

Vedanta shares hit a fresh record high after ICRA upgraded the company’s long-term credit rating to AA+ with a stable outlook, marking its highest domestic rating in over a decade. The upgrade reflects stronger profitability, improving leverage metrics and expectations of continued healthy cash flow generation following the group’s ongoing…

The Economic Times

Insolvency recoveries nearly halve in FY26 due to rising delays: Report

Recoveries under India's Insolvency and Bankruptcy Code (IBC) saw a sharp decline in FY 2025-26. Admitted claims yielded only 23 percent, a significant drop from the previous year. This downturn is attributed to increasing delays in resolution processes. The number of corporate insolvency cases admitted also decreased.

The Economic Times

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RBI unlikely to hike rates soon despite inflation risk, rate action only in Dec if needed: Icra's Aditi Nayar

The Reserve Bank of India is expected to hold off on interest rate hikes. Inflation risks are rising due to fuel prices and monsoon uncertainty. A rate increase is only likely by year-end if price pressures continue. The central bank will monitor for broader inflationary effects before acting. This cautious…

The Economic Times

Elevated energy prices to weigh on near-term credit conditions of Indian cos: Moody's

Indian companies face near-term credit challenges due to high energy prices. Geopolitical risks and trade developments also shape the corporate landscape. While some sectors like capital goods and defence show strength, others like aviation and fertilisers face headwinds. Weather patterns could impact rural demand for sectors such as tractors and…

The Economic Times

Cement companies' profitability to moderate in FY27 on rising fuel, logistics costs: ICRA

In FY27, Indian cement manufacturers are anticipated to experience a notable dip in profits, ranging from 10-15%. The escalating prices of power and fuel, fueled by geopolitical tensions in West Asia, are set to exert a financial pinch. Although cement prices are likely to rise, they will not fully bridge…

The Economic Times

ICRA lowers India's FY27 GDP growth estimate to 6.2%

Rating agency ICRA has revised India's FY27 GDP growth forecast down to 6.2% from 6.5% due to elevated crude oil prices stemming from the West Asia crisis. For FY26, growth is estimated at 7.5%. Q4 FY26 GDP growth is expected to slow to 7% amid moderating industrial and services sectors,…

The Economic Times

Ola Electric infuses Rs 2000 crore in EV and cell manufacturing

Ola Electric Mobility has approved a Rs 2,000 crore investment into its EV and battery manufacturing subsidiaries to boost localisation and vertical integration. This capital infusion aims to strengthen its core EV business and scale up battery operations amid rising competition and profitability concerns.

The Economic Times

The Rs 3 relief that wasn't: Why investors are dumping oil stocks after long-awaited petrol, diesel price hike

Shares of HPCL and BPCL fell up to 3% despite the first fuel price hike since 2022, as investors worried the increase would not offset mounting losses. Analysts estimate OMCs could still lose nearly Rs 500 crore daily at current crude prices. With Brent crude above $100 and West Asia…

The Economic Times

'Nobody will fly': India's plane versus train battle gets a twist

India's Railway Minister said upcoming bullet trains will dominate short-haul routes like Mumbai-Pune and Bengaluru-Chennai, mirroring global trends. This strategic shift prioritises high-speed rail for premium intercity travel, potentially reshaping India's transport landscape and economic integration by compressing travel times and fostering regional growth.

The Economic Times

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Dynamite News

India's GDP growth to pick up in third quarter compared to first half of FY25: ICRA report

The report stated that this optimism is based on improving economic indicators and robust activity levels in various sectors. Read further on Dynamite News:

International Business Times

India Growth Slows To 6.7% On Lower Consumer Spending

India's economic growth slowed to 6.7 percent on-year in the April-June quarter, official data showed Friday, as lower government outlays and lacklustre consumer spending weighed on the world's fifth-largest economy.

The Hindu

T.N. emerges top borrower in 2024 for the fourth successive year, says ICRA report

Tamil Nadu emerges as top borrowing state with ₹1,13,000 crore gross market borrowings in fiscal 2023-24.

Dynamite News

Domestic Air Passenger Traffic Rises By 3 PC In November

The domestic air passenger volume registered 3 per cent growth in November 2022 at 117 lakh compared to 114 lakh registered in the previous month, rating agency ICRA said on Monday. Read on for details:

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The Times of India

Domestic passenger traffic touched 93 % of pre-Covid levels in November, international at 81%

MUMBAI: The Indian airline industry is yet to cross the pre-pandemic passenger traffic numbers, but it's well on its way to recovery what with domestic passenger volumes reaching 93% of pre-Covid levels though international passenger traffic continues to struggle, touching only 81 % in November 2022, according to credit rating…

The Hindu

International air passenger traffic robust: ICRA

NEW DELHI

The Hindu

India’s current account deficit to widen to 5% in Q2, 3.5% in FY23: ICRA

The trade deficit has doubled to $28.7 billion for August due to a 36.8% expansion in imports and a 1.2% decline in export earnings.

The Hindu

To boost spending, Centre releases ₹1.16 lakh crore to States

Two months’ tax dues remitted in one go to ease States’ fiscal constraints after GST compensation sunset

The Hindu

Wholesale price rise eases to three-month low at 15.2% in June

Food inflation surges; no change in overall price levels month-on-month

The Hindu

International air passenger traffic at 79% of pre-COVID levels: ICRA

Domestic passenger traffic, though, declined in June

The Hindu

No hike in small savings rates

Belies hopes of a hike amid surge in inflation and government bond yields

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