Ind-Ra revises FY22 GDP growth forecast to 10.1 pc ANI | Updated: Apr 23, 2021 17:17 IST
The revision assumes the second wave of pandemic to start subsiding by mid-May.
Ind-Ra said the impact of second wave will not be as disruptive as the administrative response is likely to be confined to regional/local lockdowns and containment zones.
Moreover, unlike the first wave, the administrative response is not abrupt and is unfolding gradually in a graded manner.
Besides, households, businesses and other economic agents are better prepared and there is a significant amount of learning by doing, which can help them withstand and navigate through the second wave of crisis.
Demand recovery across media & entertainment value chain to drive growth: Ind-Ra ANI | Updated: Apr 02, 2021 16:08 IST
The agency maintained a negative outlook for the multiplex sector given the delayed recovery curve and continued low attendances hampering cinema operators.
In contrast, broadcaster, print media and MSO companies have seen improved prospects in FY22 underpinned by a strong return to advertising revenues in 2H FY21.
Ind-Ra anticipates a weak demand recovery for movie exhibitors primarily driven by a smooth pick-up in advertising revenues for broadcasters as shooting for movies and general entertainment content resumed in 2QFY21.
Print media will continue to face challenges from digital initiatives cannibalising circulation which will necessitate companies investing in online ventures themselves. However, the improvement in ad revenue growth in 2H FY21 bolsters the near-term outlook.
Ind-Ra revises outlook for steel sector to stable in FY22 ANI | Updated: Mar 16, 2021 12:45 IST
The agency expects FY22 steel volumes to improve year-on-year and compensate for a likely moderation in per tonne margins as steel prices gradually moderate from high levels witnessed over 2H FY21. Both demand and supply are likely to be strong and recover from the slowdown in FY20 and the Covid-19 led demand and supply disruptions in FY21.
However, spreads are likely to moderate over FY22 as steel prices face headwinds with limited correction in raw material prices. Ind-Ra said it expects domestic iron ore prices to gradually correct in FY22 as iron ore supply improves, although remaining elevated till domestic iron ore output increases to FY20 levels.
Ind-Ra revises outlook on JSW Steel, NCDs to stable ANI | Updated: Mar 13, 2021 11:44 IST
The agency also revised its outlook on both to stable from negative due to close operational and strategic linkages between JSWL and its subsidiaries.
The outlook revision reflects an improvement in the steel sector s demand-supply situation over 2Q FY21 to 3Q FY21 and its likelihood over the medium term because of rising end-consumer demand.
This is likely to improve the credit metrics by FYE22, said Ind-Ra. The affirmation reflects continued comfort from JSWL s strong business profile on the back of its low-cost position, improving backward integration and adequate liquidity management in the prevailing challenging environment.
Auto ancillaries revenue, profitability to improve in FY22: Ind-Ra ANI | Updated: Mar 13, 2021 17:11 IST
Mumbai (Maharashtra) [India], Mar 13 (ANI): India Ratings and Research (Ind-Ra) has revised its outlook for the auto ancillary sector to improving for FY22 from negative.
It has also revised the outlook on its rated portfolio to stable from negative. The agency previously expected the sector revenues to record a 16 to 20 per cent year-on-year decline in FY21 followed by a recovery of 12 to 15 per cent in FY22.
However, with a strong 3Q FY21 and likelihood of sustained demand in coming quarters, Ind-Ra now expects the revenue decline to be limited to 10 to 12 per cent in FY21 followed by a recovery of 18 to 20 per cent in FY22.