Auto Sales Volume Decline for Second Consecutive Month in January
CV sales volume grew at a marginal 2% yoy on account of a 1% yoy and a 3% yoy growth in MHCVs and LCVs sales volume, respectively. Delayed purchases owing to…
India Ratings and Research (Ind-Ra)
RBI Dispensation For MSMEs Could Improve Credit Flow, But Credit Culture Could Suffer
The Reserve Bank of India’s (RBI) restructuring scheme for MSMEs could provide some respite to banks and non-banking financial institutions (NBFCs) on non-performing asset recognition…
Farm Loan Waivers To Slow Down A Number Of States Capital Expenditure
During periods of fiscal adjustments, like the one that is bound to arise due to farm loan waivers, capex becomes a soft target for deficit control. This has already been witnessed in the case of Maharashtra, Rajasthan and Karnataka…
GST Transition to Disrupt Working Capital Cycle of India Inc
The transition to GST will disrupt the working capital cycle of businesses in the initial phase and thus easy liquidity in the system is essential…
Fall In Operating Performance Of Weak Entities To Drag Down Overall EBITDA Recovery In FY18
India Ratings and Research (Ind-Ra) does not expect a broad-based recovery in FY18, given decelerating EBITDA growth of corporates with weak operating performance. Corporates with…
Geopolitical Risk, Monsoon And Foreign Fund Flows On Investors Watch In FY17
Fixed-Income Investor Survey 2QFY17: Investors are concerned that geopolitical tension could upset credit markets globally. 29% of investors ranked this as a high risk in…
Resolving India’s Bad Debt Problem
The INR 6trillion bad debt in Indian banks currently would require asset reconstruction companies (ARCs) to re-orient themselves if they are to facilitate the resolution process, says India Ratings and Research (Ind-Ra).
Refinancing, Risk-balancing Could Steer Highway Sector Out of Troubles
India Ratings and Research (Ind-Ra) believes that although the highway sector is weighed down by concerns such as over leverage, lower-than-expected cash flows and land…
Online Retailers Exposed To Funding Risks?
India Ratings believes PE activity will remain muted in the foreseeable future, especially after a series of mark down in valuations of e-tailers by investors. Furthermore, the expected US Federal Reserve rate hike, a fragile global recovery and the recent amendment to the India-Mauritius tax treaty may keep global investors away from India, one of the fastest growing e-commerce industries in the world
RBI’s Large Borrower Framework Needs To Address Bond Investor Constraints
The Reserve Bank of India’s (RBI’s) proposed guideline to create an overarching ceiling on total bank borrowing by a corporate entity can address the concentration…