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India’s retail inflation surged to 14-month high of 3.99% in September from 3.21% in August, but core inflation eased for the month mainly due to rise in food prices. The WPI inflation rate, on the other hand, fell to a 39-month low of 0.33% from 1.08% over the same period. The International Monetary Fund cut its estimate for India’s growth this year to 6.1% from 7% projected in July, calling on the country to use monetary policy and broad-based structural reforms to address cyclical weakness and strengthen confidence.

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The IMF said India’s economy is set to grow at 6.1% in 2019 and then will pick up to 7% in 2020. The IMF said in its latest World Economic Outlook that the downward revision reflected a weaker-than-expected outlook for domestic demand. Earlier, the World Bank slashed its economic growth forecast for India to 6% for the current fiscal year from its April projection of 7.5%, citing cyclical slowdown. Gross NPA ratio declined to 8.86% as on June 30, 2021 against 9.39% as on June 30, 2020. Recovery and upgrades increased to Rs 4,435 crore in Q1FY22 as against Rs 818 crore in Q1FY22. Bank’s NNPA ratio increased to 3.03% as on June 30, 2021 as against 2.83% as on June 30, 2020.

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Bank reported RoA and RoE of 0.42% and 8.63% respectively in Q1FY22. Capital adequacy on standalone basis stands at 15.40% with CET-1 at 11.25% as on June 30, 2021 as against 12.84% and 9.08% respectively as on June 30, 2020. For the consolidated entity, CRAR and CET-1 stand at 16.38% and 12.35% respectively. Global NIM increased to 3.04% in Q1FY22 compared with 2.52% in Q1FY21 led by domestic margins which have now increased to 3.12% in Q1FY22 from 2.59% in Q1FY21. NII increased to Rs 7,892 crore in Q1FY22 compared with Rs 6,816 crore in Q1FY21, an increase of 15.8% YoY.

Insurance Australia Group will sell its 26% stake in India’s SBI General Insurance for about $432.38 million to Premji Investment and a Warburg Pincus affiliate, as it trims overseas holdings to focus on its domestic market. Finance Minister NirmalaSitharaman said in an interview on Tuesday India wants to comply with global sanctions, including US sanctions on Venezuela and Russia, but also needs to maintain its own strength and strategic interests. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Please note Brokerage would not exceed the SEBI prescribed limit. Despite challenging demand environment, Trent continues to remain insulated with industry best growth rates.

We have also instituted several innovations in https://1investing.in/ in the rating business, including ratings for municipal bonds, partially guaranteed instruments and infrastructure investment trusts . This disclaimer is part of and applies to each credit rating report and/or credit rating rationale (‘report’) that is provided by CRISIL Ratings Limited (‘CRISIL Ratings’). To avoid doubt, the term ‘report’ includes the information, ratings and other content forming part of the report.

Return on assets for 9MFY23 improves by 31 bps YoY to 0.93%; RoA for Q3FY23 improves by 39 bps YoY to 1.13%. Net interest margins stand at 3.37% in Q3FY23 and 3.23% for 9MFY23, an increase of 24 bps YoY for the quarter and 22 bps for 9M. By using this site, you are agreeing to security monitoring and auditing. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes.

PI Industries acquires TRM, Archimica to strengthen its CDMO business

The report is intended for the jurisdiction of India only. Access or use of this report does not create a client relationship between CRISIL Ratings and the user. Domestic advances fell by 2.3% YoY due to run-off of low yielding corporate loans.

Also, conducting the home loan business through a housing finance company allows more efficient use of capital. Goldman Sachs Group Inc missed Wall Street estimates for quarterly profit as it took heavy losses from high-profile investments in WeWork and Uber Technologies and faced up to a weakening global economy, a Reuters report said. The bank’s net earnings applicable to common shareholders fell 27% to $1.79 billion in the quarter ended Sep 30 from $2.45 billion a year ago. Earnings per share fell to $4.79 from $6.28 a year earlier.

Trent reports mixed operational performance; remains fastest growing apparel retailer

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China’s producer price index , considered a key barometer of corporate profitability, dropped 1.2% year-on-year in September, National Bureau of Statistics data showed on Tuesday. In contrast, China’s consumer prices rose at their fastest pace in almost six years; However, core retail inflation pressures remain modest, giving policymakers room to introduce measures to prop up demand. Features such as Advanced Charts, Watchlists, F&O Insights @ Fingertips, Payoff Analyzer, Basket Order, Cloud Order, Option Express, e-ATM, Systematic Equity Plan , i-Track, i-Lens, Price Improvement Order, Flash Trade, Strategy Builder etc., are offered by ICICI Securities. The securities quoted are exemplary and are not recommendatory.

comex Advances of the Bank increased to INR 6,54,315 crore, up by 4.96% on a QoQ basis, YoY growth stands at 3.36%. Net profit of the Bank doubled for the quarter and stands at INR 2,197 crore in Q3FY22 against INR 1,061 crore in Q3FY21. Net profit increased to INR 5,494 crore in 9MFY22 from INR 1,875 crore in 9MFY21. Bank reported a standalone Net Profit of Rs 1,779 crore in Q4FY22 as against a loss of Rs 1,047 crore in Q4FY21.The Net Profit for FY22 increased to Rs 7,272 crore in Mar’22 (777%) from Rs 829 crore in FY21. Operating Income for FY22 registered a growth of 5.7% YoY at Rs 44,106 crore.

Considering segment wise, its Home Care sector revenue surged 9.4% to Rs 3,371 crore on year as against Rs 3,080 crore in the same quarter last year. Beauty and Personal Care revenue grew 5.3% to Rs 4,543 crore in quarter ended September 2019 as compared to Rs 4,316 crore in the same quarter previous year. CRISIL Ratings will disclose complexity level for all securities – including those that are yet to be placed – based on available information. The complexity level for instruments may be updated, where required, in the rating rationale published subsequent to the issuance of the instrument when details on such features are available. Adding scale and granularity into its already retail oriented lending book.

For further information on CRISIL’s privacy policy please visit Further, support from the parent SFL both on an ongoing basis and in the event of distress is expected to continue. CRISIL Ratings believes that SHFL will raise the required equity to manage capitalisation levels for future growth. Given majority ownership, shared name, increasing strategic importance, management oversight, common branding and operational synergies, CRISIL Ratings believes SCUF will continue to provide the required support to SHFL.

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It has delivered independent opinions, actionable insights, and efficient solutions to over 100,000 customers through businesses that operate from India, the US, the UK, Argentina, Poland, China, Hong Kong and Singapore. This Annexure has been updated on 12-Jan-23 in line with the lender-wise facility details as on 30-Mar-22 received from the rated entity. CRISIL Ratings` complexity levels are assigned to various types of financial instruments and are included in the ‘Annexure – Details of Instrument’ in this Rating Rationale. Construction or purchase of residential property and loans against property.

• The Bank also brought down its Cost of deposits significantly by 103 bps to 3.92%.
• We have rated over 33,000 large and mid-scale corporates and financial institutions.
• Recovery and upgrades increased to Rs 4,435 crore in Q1FY22 as against Rs 818 crore in Q1FY22.
• CRISIL Ratings Limited (‘CRISIL Ratings’) is a wholly-owned subsidiary of CRISIL Limited (‘CRISIL’).
• This rating rationale is transmitted to you for the sole purpose of dissemination through your newspaper/magazine/agency.

Domestic CASA ratio increased to 43.21%, an increase of 372 bps YoY. Domestic cost of deposits declined by 103 bps YoY to 3.92% in Q1FY22. Also, payments to investors are not fixed and are linked to external variables such as government yield, commodity prices, equity indices, foreign exchange rates, or equity valuation of the company. Citigroup reported third-quarter earnings and revenue that topped projections as stronger-than-expected trading results made up for weaker lending margins.

Within retail loans, auto loans increased by 25.0% YoY and personal loans grew by 19.5% YoY. The Bank also brought down its Cost of deposits significantly by 103 bps to 3.92%. CASA Deposits increased by 12.7% YoY with the domestic CASA ratio increasing to 43.21% from 39.49% last year, an increase of 372 bps YoY.

Passenger vehicle sales dropped to 223,317 units in September, SIAM data showed, while passenger car sales dived 33.4% to 131,281 units. India’s coal minister Pralhad Joshi said the government will formulated policy to attract overseas investors in next two weeks. India’s exports contracted by 6.57% to US $26 billion in September mainly due to significant dip in shipments from key sectors such as petroleum, engineering, leather, chemicals, and gems & jewellery. Imports too declined by 13.85% to US $36.89 billion, narrowing trade deficit to US $10.86 billion in September, according to official data this week.

The Bank reported a Net profit at Rs 1,209 crore on the back of a robust 15.8% YOY growth in Net Interest Income to Rs 7,892 crore. Resultantly, there has been a significant rise in RoA at 0.42% and RoE of 8.63%. Operating profit increases by a robust 41.2% to Rs 5,707 crore. Cost to income ratio fell to 47.45%, a decline of 574 bps over the previous year. Gross NPA position improved to 8.86% from 9.39% in the same period last year.

India reported 7,533 new Covid-19 cases in the last 24 hours. The corresponding offer share prices of Rs 385 for Ambuja Cement and Rs 2,300 for ACC translate into cash proceeds of 6.4 billion Swiss Franc for Holcim. The European Union publishes its economic forecasts later in the session, and the market will be looking to see the impact of the Ukraine war and soaring inflation on growth expectations. This report should not be reproduced or redistributed to any other person or in any form without prior written consent from CRISIL Ratings.

Bank reported a standalone Net Profit of Rs 2,168 crore in Q1 FY23 as against a profit of Rs 1,209 crore in Q1FY22. Global advances registered a strong YoY growth of 19.7% in Q3FY23. The IT major’s consolidated net profit rose 10% to Rs 1,505.70 crore and net sales rose 5.8% to Rs 12,116.30 crore in Q4 FY22 over Q3 FY22. European stocks declined across the board while Asian markets traded mixed on Monday as global markets struggled to gain positive momentum and recover from last week’s volatility. On the BSE, 1,995 shares rose while 1,301 shares fell. CRISIL Ratings Limited (‘CRISIL Ratings’) is a wholly-owned subsidiary of CRISIL Limited (‘CRISIL’).

Trade deficit in September last year stood at US $14.95 billion. In 1992, more than half of 16-to-19 year olds were working. That fell to just over 30% in 2012 and will be near a quarter in 2022.