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ICRA

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GDP
GDP growth projected to spike to four-quarter high 13.0% in Q1 FY2023: ICRA
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Indian-Currency
AT1 bond issuances likely to fall to around Rs 200 billion in FY2023: ICRA
IANS -
"Public sector banks are expected to raise Rs 201 billion in AT-I bonds during FY2023, but private sector issuances are expected to remain modest depending on market opportunities. Unlike in FY2022, when issuances were mostly driven by rollover requirements, issuances by public banks in FY2023 are primarily driven by growth requirements," said Anil Gupta, Vice President, ICRA.
net-profit-rises
ICRA net profit rises 22.7% to Rs 31.9 cr in Q1FY23
IANS -
The Company's EPS increased by 22.7 per cent to Rs 33.2 in Q1 FY2023 against Rs 27.0 in Q1 FY2022. The quarter saw an increase in global inflation; this coupled with the upward revision of the repo rate during the quarter, has translated into increasing bond yields. The employee benefit expenses registered a decline of 2.1 per cent to Rs 28.4 crore in Q1 FY2023, accounting for 35.4 per cent of the company's total income.
Life-insurance
Indian non-life insurance sector to grow by 10-12% in FY23: ICRA
IANS -
According to ICRA, the growth will be led by health and commercial business segments owing to increased awareness of medical insurance and uptick in economic activity. The gross domestic premium income (GDPI) of government-owned insurers is expected to grow moderately at 4-6 per cent, while private insurers are expected to capture market share by growing at a higher rate of 13-15 per cent in FY23, ICRA said.
NBFC-growth
Rising demand, waning Covid impact to accelerate NBFC's growth
IANS -
Accordingly, the expected trend came to light via a survey of entities constituting over 50% of the industry's AUM. In the ICRA's survey, entities expect asset quality to improve in FY2023 from current levels. Besides, large entities are expecting to consume some of the excess liquidity for business growth while smaller ones intend to maintain liquidity amid expectations of funding constraints to support their liquidity profile in event of any uncertainties and to provide comfort to various stakeholders.
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Natural-gas
Natural gas business of PSU upstream companies to turn profitable: ICRA
IANS -
Accordingly, the armed conflict between Russia and Ukraine has led to a reduction in offtake of Russian crude and a consequent increase in crude oil and gas prices. The ratings agency noted that increasing oil prices add to the fiscal burden for the country, but it is a positive for upstream oil companies. "Additionally, domestic gas prices notified at $2.9 per mmBtu (GCV basis) for H2 FY2022 remain low".
Firm demand, low global inventory to keep aluminium prices elevated: ICRA
Firm demand, low global inventory to keep aluminium prices elevated: ICRA
IANS -
A low inventory level of aluminium globally amid tight demand-supply situation in addition to any potential sanction on Russian aluminium exports are expected to aggravate the availability of the commodity in the rest of the world, and thereby keeping its prices at an elevated levels till normalcy is restored, rating agency ICRA said in a report.
ICRA-OEM
Strong demand outlook for domestic solar OEMs aided by policy measures: ICRA
IANS -
As per the ratings agency, the trend has led many domestic OEMs to announce sizeable capital expenditure to augment the cell and module capacity, including the capex for integrated facilities under PLI scheme by the winning bidders. However, timely commissioning and ramp-up of ongoing capex in the module manufacturing value chain remains critical in the near to medium term.
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