CP volume buoyant as NBFCs seek funding diversification
The Reserve Bank of India mandate to increase risk weights on bank loans given to higher-rated non-banking financial companies (NBFCs) is spurring funding diversification among the latter. Consequently, quarterly commercial paper (CP) issuances by NBFCs1 hit a ~four-and-a-half-year high of ~Rs 1.2 lakh crore in January-March 2024, a level last seen in July-September 2019. However, this is still lower than the highs of ~Rs 3.1 lakh crore seen in July-September 2018 (see chart in annexure for details).
Rising traffic to lift revenue of private airports by 30% this fiscal
An expected increase of 10% in passenger traffic on the high base of fiscal 2024, combined with capital expenditure (capex)-linked tariff hikes and rising non-aeronautical revenue per passenger, will help grow the revenue of leading private airport operators by around 30% this fiscal.
CRISIL ESG Ratings & Analytics Ltd gets SEBI nod to offer ESG ratings
The Securities and Exchange Board of India (SEBI) has approved CRISIL ESG Ratings & Analytics Ltd (CRISIL ESG Ratings), a wholly owned subsidiary of CRISIL Ratings Ltd (CRL), as a Category 1 provider of environmental, social and governance (ESG) ratings.
At ~5-7%, IT service cos stare at second successive year of muted revenue growth
The information technology (IT) services sector is likely to see a second consecutive year of sluggish growth in fiscal 2025, with revenue seen rising 5-7%1, as continuing global macroeconomic headwinds lead to modest increase in technology spends in the key markets of the US and Europe2.
Healthy occupancies, ARPOB to drive double-digit revenue growth for hospitals this fiscal
Revenue of private hospitals is seen growing at healthy 11-12% in fiscal 2025 after an estimated 14% growth in fiscal 2024. Good occupancy levels on enhanced capacities and steady uptick in average revenue per occupied bed (ARPOB) will be the tailwinds. Rising share of medical tourism and increasing health insurance coverage will be supportive as well, contributing to better bed-utilisation and ARPOBs.
Aveek Datta
Associate Director - Corporate Communications
+91 99204 93912
aveek.datta@crisil.com