Rating agency ICRA reported a subdued outlook for oil refiners in the near term due to global capacity additions outstripping demand growth. The agency expects oil marketing companies to close the current fiscal year with high gross under-recoveries on account of high crude prices and a weakness in the rupee against dollar in the earlier part of FY14.
Tag: Icra
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Cargo throughput up by 2.59% to 277 mt
In India's major ports the cargo throughput grew 2.59 per cent to 277 million tonne (mt) in first half of the present financial thanks to the growth at Ennore, Paradip and New Mangalore, said the agency Icra on December 11. Coal imports, petroleum oil and lubricants (POL), and fertilisers drove the volume growth, while iron ore and container volume dragged the overall growth, Icra said.
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Cargo demands to persist in ports: ICRA
Due to sluggish progress in iron ore and container volumes, cargo pressure will persist at major ports, said rating agency ICRA. Iron ore has been the main laggard in the first 5 months (April-August) of this fiscal year, ICRA said.
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Icra optimistic on cargo growth outlook at Indian ports
A report by rating agency Icra said cargo growth outlook for ports in India continues to be strong over the medium- to long-term driven by the rising coal requirement. But the report warned that major ports would continue to suffer from issues on capacity and efficiency because slow pace of project
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Icra expects rise in output and demand for natural gas
By 2015-16, domestic production of natural gas may rise to around 125 MMSCMD from 111 MMSCMD in 2012-13, rating agency ICRA feels. By 2019-20, domestic output could increase further to around 183 MMSCMD, a study conducted by ICRA show
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Report indicates decline in market share of major ports
A report by ICRA shows the market share of non-major ports rose to 42 per cent in 2012-13 from 39 per cent in the previous year because of their efficient operation.
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Port projects face implementation hurdles
Owing to factors hurdles in land acquisition, environmental and other statutory clearances and financial closure, several projects in major and non-major ports are held up. According to a study conducted by Icra, there are about 30-40 greenfield non-major ports that have high promise and potential but low implementation. These proje
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ICRA report points to decline in mkt share of major ports
A report by ratings agency ICRA shows the market share of non-major ports rose to 42 per cent in 2012-13 from 39 percent in the previous year because of their efficient operation. Thus, in 2012-13, market share of major ports declined to 58 per cent of the total throughput, compared to 61
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Icra revises down economic growth forecast for FY14
The Indian economy may grow 0.40 percentage points lower at 5.4-5.6 per cent during 2013-14 compared to the earlier forecast, ratings agency Icra said. The agency revised down the economic growth estimate citing weak economic environment and rupee
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Ratings of 3 MFIs upgraded by ICRA
Noting the resilience in the financial position of three microfinance institutions (MFIs), rating agency ICRA upgraded their ratings. The three MFIs are Grameen Financial Services Private GFSPL), Ujjivan Financial Services (Ujjivan) and Utkarsh Microfinance Private (Utkarsh). According to the agency, the upgrade reflects likely improvement in the resilience of their earnings, superior ability to scale up as well as strengthened capacity to cont