IT firms stare at revenue, margin blows of the decade
Revenue pressures in the ~USD 97 billion Indian information technology (IT) service industry, will intensify in fiscal 2021, due to the impact of the Covid-19 pandemic world-wide, crimping growth to a decadal low of 0-2%, surpassing even the earlier low of ~4% registered in fiscal 2018.
Diamantaires, cut by pandemic, stare at decadal-low revenue
Revenue of India’s diamond polishing industry is set to plunge in fiscal 2021 to a decadal low of $13-15 billion, compared with the $24 billion in fiscal 2019, and an estimated ~$19 billion in fiscal 2020.
Moratorium can give Rs 2.1 lakh crore liquidity breather to corporates
The moratorium announced by the Reserve Bank of India (RBI) on interest and principal obligations due between March 1 and May 31, 2020, would tantamount to a liquidity breather of Rs 2.10 lakh crore1 if all companies opt for it.
For oil refiners, the Covid-19 pandemic is delivering two blows: inventory loss of over Rs 25,000 crore in the January-March quarter because of a 70% fall in crude oil prices, and a likely plunge in gross refining margins (GRMs) in the first quarter (April-June) of fiscal 2021 because of demand destruction.