Latest news with #IndiaRatings&Research
Business Standard
28-05-2025
- Business
- Business Standard
Prism Johnson receives affirmation in credit ratings
From India Ratings & Research Prism Johnson announced that India Ratings & Research has affirmed its ratings/outlook for the existing Non convertible Debentures, term loans and fund based working capital limits of the Company as 'IND A+/Positive'. Further, the ratings for non-fund based working capital limits, unsecured short-term loans and commercial paper program of the Company has been affirmed as 'IND A1+'. The ratings of unallocated fund based / non-fund based limits of Rs 1.1 crore have been withdrawn in line with India Ratings' policy on Withdrawal of Ratings given that the facility rating is no longer required to be maintained as this debt is not expected to be by Capital Market - Live News
The Hindu
26-05-2025
- Business
- The Hindu
Tamil Nadu's capital expenditure grew over 16% in fiscal 2025
Tamil Nadu's capital expenditure grew over 16% to ₹46,076.54 crore in fiscal 2025, when compared to ₹39,540.90 crore in fiscal 2024, according to the preliminary un-audited provisional figures from the Comptroller and Auditor General of India (CAG). Capital expenditure (capex) goes towards creation of fixed assets, such as roads and bridges, irrigation structures, schools, hospitals, along with investments made in Public Sector Undertakings. It helps in improving economic activity and generating employment. The capital expenditure for fiscal 2025 is also in line with the projection made in the revised estimates. The overall Capital Expenditure in the Revised Estimates was projected at ₹46,766 crore, as compared to ₹47,681 crore in the initial Budget Estimates for 2024-25, as per the State Budget for 2025-2026. 'The 16% growth in fiscal 2025 indicates a sustained focus on capex by the State government. The capex growth achieved in fiscal 25 provisional is much better than the compounded annual growth rate (CAGR) of 12.3% during fiscal 2018-2024,' Paras Jasrai, associate director, India Ratings & Research, said. He said this is a positive development. 'In fact, a better way to look at it is comparing the actual overall capex (including loans and advances) as a proportion of the budgeted numbers. A closer look at the data reveals that Tamil Nadu has met 95.2% of the budgeted target in fiscal 2025, which is much better than fiscal 2024 number of 86.2% and 95.4% in fiscal 2023, as well as the average of 88.1% during FY18-FY24,' Mr. Jasrai said. According to him, the State has also fared better in terms of quality of expenditure. The quality of expenditure can be gauged by capital outlay to total expenditure (COTE). The COTE stood at 12.2% in fiscal 2025 provisional numbers and has hit a three-year high (it was 12.6% in fiscal 2022), Mr. Jasrai said. The metric for fiscal 2025 provisional is also better than the average of 11.4% during fiscal 2018-fiscal 2024. For fiscal 2026, the State government has estimated capital expenditure of ₹57,231 crore, which is a growth of 22.38% from the revised estimates for fiscal 2025. The total capital outlay of the State, including Net Loans and Advances, is estimated at ₹65,328 crore in the Budget Estimates 2025-26. 'Capex remains a sustained focus for the government, which is quite favourable for the continuing the economic momentum in the state. The State has been actively focusing on fiscal consolidation as evident even in the FY26 budget,' Mr. Jasrai said.
Business Recorder
13-05-2025
- Business
- Business Recorder
Indian benchmarks set for muted start; pharma stocks in focus
India's benchmark indexes are likely to open little changed on Tuesday, after logging their best day in more than four years following a fragile ceasefire with Pakistan over the weekend. The Gift Nifty futures were trading at 24,916 as of 8:17 a.m. IST, indicating that the Nifty 50 will open around Monday's close of 24,924.7. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Investor sentiment is upbeat after the U.S. and China agreed to temporarily slash harsh reciprocal tariffs and cooperate to avoid rupturing the global economy. MSCI's Asia ex Japan index traded 0.3% higher on Monday, following a 2% jump in the previous session amid trade optimism. Indian shares set to open higher on India-Pakistan ceasefire Back home, the Nifty 50 and Sensex soared nearly 4% in a broad-based relief rally on Monday after India and Pakistan reached and held a ceasefire following days of cross-border clashes. The gains were driven by both foreign and domestic investors. Foreign portfolio investors (FPIs) bought Indian shares worth 12.46 billion rupees ($146.9 million) on Monday, as per provisional data. With this, FPIs have bought Indian shares worth $1.7 billion so far in May on optimism over domestic growth prospects, a weaker dollar, and easing global trade tensions. Meanwhile, the spotlight is on pharmaceutical stocks after U.S. President Donald Trump signed a wide-reaching executive order on Monday, directing drugmakers to lower the prices of their medicines to align with what other countries pay. Trump's order will have limited near-term impact on Indian pharma companies, but it may have a bearing on their long-term capital allocation strategies, according to India Ratings & Research.
Yahoo
13-05-2025
- Business
- Yahoo
Indian benchmarks set for muted start; pharma stocks in focus
(Reuters) -India's benchmark indexes are likely to open little changed on Tuesday, after logging their best day in more than four years following a fragile ceasefire with Pakistan over the weekend. The Gift Nifty futures were trading at 24,916 as of 8:17 a.m. IST, indicating that the Nifty 50 will open around Monday's close of 24,924.7. Investor sentiment is upbeat after the U.S. and China agreed to temporarily slash harsh reciprocal tariffs and cooperate to avoid rupturing the global economy. MSCI's Asia ex Japan index traded 0.3% higher on Monday, following a 2% jump in the previous session amid trade optimism. [MKTS/GLOB] Back home, the Nifty 50 and Sensex soared nearly 4% in a broad-based relief rally on Monday after India and Pakistan reached and held a ceasefire following days of cross-border clashes. The gains were driven by both foreign and domestic investors. Foreign portfolio investors (FPIs) bought Indian shares worth 12.46 billion rupees ($146.9 million) on Monday, as per provisional data. With this, FPIs have bought Indian shares worth $1.7 billion so far in May on optimism over domestic growth prospects, a weaker dollar, and easing global trade tensions. Meanwhile, the spotlight is on pharmaceutical stocks after U.S. President Donald Trump signed a wide-reaching executive order on Monday, directing drugmakers to lower the prices of their medicines to align with what other countries pay. Trump's order will have limited near-term impact on Indian pharma companies, but it may have a bearing on their long-term capital allocation strategies, according to India Ratings & Research. STOCKS TO WATCH ** Tata Steel beats fourth-quarter earnings estimates on the back of lower input costs ** Hindalco Industries' U.S. subsidiary Novelis posts 6% quarter-on-quarter increase in volumes in January-March, along with a 22% jump in operating profit per ton ** China's Ant Group will sell a 4% stake in One 97 Communications at 809.75 rupees per share, a discount of 6.5% to Monday's closing price, Reuters reports Sign in to access your portfolio
