Data will be updated when it becomes available.
Invest wise with Expert advice
Get better recommendations Make better investments.
Get better recommendations Make better investments.
By continuing, I accept the Terms & Conditions and agree to receive communication on Whatsapp
The grade also took into account the parent company Vedanta Resources Limited's (VRL) upcoming debt refinancing risk and the company's recent decision to demerge its operations into distinct listed standalone entities.
All three rating agencies saw rating revenue growth moderation in Q2FY24 after witnessing mid-teens growth in preceding quarters.
Analysts at IIFL Securities have reiterated ICRA as their top pick, while CARE is the dark horse.
Securities having a "AA" grade are thought to have a high level of safety when it comes to prompt payment of debts. Credit risk is incredibly low with these products.
ICRA has assigned a long-term rating of AA+.
Recommendation: Add; Target price: Rs 3,711
According to Crisil, the improvement in the high-value corporate loan books, where the gross NPAs are expected to fall below 2%, is a significant factor influencing the bank NPAs.
Capex cycle recovery in India could be delayed, considering its linkage to global capex cycle and the subdued near-term global growth outlook. Hence, analysts at IIFL Securities assume a moderation in rating revenue growth in FY24 versus FY23, with ICRA and CARE reversing some of their under-performance versus CRISIL, between FY19-22.
Capex cycle recovery appears imminent, with corporate leverage at its lowest in recent years and PAT-to-GDP set to improve, notwithstanding the high interest rates. All three rating agencies should fare well, with ICRA and CARE likely to recover some lost ground after underperforming CRISIL between FY19-22.
Crisil Ratings' analysis indicates that the new requirements for ARCs, which were announced by the Reserve Bank last Tuesday, will require them to increase their net-owned funds by three times, to Rs300 crore from Rs100 crore, in a phased manner by March 2026. This could be difficult for smaller ARCs.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.