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Preference for personal mobility and demand across urban and rural markets will be positive for PVs and 2Ws.
Auto volumes to grow in double digits: Ind-Ra ANI | Updated: Mar 12, 2021 13:52 IST
Mumbai (Maharashtra) [India], March 12 (ANI): India Ratings and Research (Ind-Ra) on Friday revised its outlook for the auto sector to improving for FY22 from negative on account of a likely revival across segments aided by positive consumer sentiments amid macroeconomic tailwinds as the economy recovers from Covid pandemic.
Ind-Ra expects auto volumes to rebound at 16 to 20 per cent year-on-year in FY22 after recording an estimated decline of 14 to 18 per cent in FY21.
Brighter days ahead for grade 1 real estate players: Ind-Ra ANI | Updated: Mar 10, 2021 18:09 IST
Mumbai (Maharashtra) [India], Mar 10 (ANI): India Ratings and Research (Ind-Ra) said on Wednesday that performance of residential real estate sector is expected to improve in FY22 from a weak base currently.
Grade I players are likely to see a surge in growth from a moderately strong base while non-grade I players are likely to see a reversal of sharp decline experienced in FY21.
Ind-Ra emphasised that overall sales in FY22 can still be around 14 per cent below FY20 level. It expects residential real estate sector to stage a sharp K-shaped recovery in FY22.
Higher budgetary allocations to accelerate recovery in construction sector: Ind-Ra ANI | Updated: Mar 09, 2021 11:59 IST
Mumbai (Maharashtra) [India], March 9 (ANI): India Ratings and Research (Ind-Ra) on Tuesday revised its outlook for the construction sector outlook to improving in the next financial year (FY2021-22) from negative in FY21.
Increased focus on infrastructure spending in the recently announced Budget for FY22 where healthcare, water (including irrigation), roads and railways have seen strong allocations will result in higher order inflows to the sector.
Ind-Ra thus said that sector revenue will grow by 15 to 20 per cent year-on-year in FY22.
The agency also revised the rating outlook on its rated construction companies to stable from negative on account of likely recovery trajectory of engineering, procurement and construction (EPC) players after registering two consecutive years of revenue decline.
Telecom spectrum auctions credit neutral for Reliance Jio, Bharti Airtel: Ind-Ra ANI | Updated: Mar 05, 2021 16:48 IST
Ind-Ra rates RJio at AAA with stable outlook and Bharti s debt at A1-plus. The agency believes both RJio and Bharti have strong financial flexibility to make immediate upfront payment (RJio Rs 19,900 crore and Bharti Rs 7,000 crore) and adequate cash flow buffers to cover yearly spectrum payments FY24 onwards.
Bharti s spectrum acquisition strategy is to focus on increasing its spectrum footprint (especially in the 1,800MHz band) and create additional capacities (especially in B and C circles by acquiring the 2,300MHz band), possibly to make its network ready for higher data usage or for improving service quality.
Vehicle price hikes to limit impact of rising costs for auto OEMs: Ind-Ra ANI | Updated: Feb 20, 2021 16:47 IST
Mumbai (Maharashtra) [India], February 20 (ANI): Although increasing input prices will impinge on near-term profitability of auto original equipment manufacturers (OEMs), they are likely to benefit from recent price hikes over the medium term as input prices normalise, according to India Ratings and Research (Ind-Ra).
The reduction in steel import duty under the Union Budget 2021-22 proposal will not have any material impact on commodity prices as domestic steel prices, despite being at peak levels, are still below the landed import prices.
In terms of value, metals cost directly account for 8 to 16 per cent of revenues on parts like body, chassis, powertrain, engine components and wheel rims. Additionally, metals are used in certain other components, child parts and sub-assemblies, which is difficult to quantify.