Apprehensions of bidding intensity in hybrid annuity model (HAM) projects offered by the National Highways Authority of India (NHAI), and consequent fear that many of these projects will not achieve debt tie-up, have been put to rest with 90% of all awarded HAM projects – worth over Rs 1 lakh crore – achieving debt funding, a CRISIL analysis shows.
CRISIL expects prices of pesticide inputs (technicals1 or intermediates1) to decline 20-25% in fiscal 2020, because of improving supplies from China. That will help domestic pesticide manufacturers, who import over two-thirds of their input requirements, to improve operating margins by ~150-200 basis points (bps) to ~11-12% this fiscal.
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