Acuite

Impact Analysis: Archive

16

Dec 21

Nov-21 Trade Deficit: Rises to record high

15

Dec 21

Nov-21 Inflation: The upward ascent

13

Dec 21

Oct-21 IIP: Slightly weaker headline, favourable internals

13

Dec 21

Q2 results reveal significant corporate recovery post second wave

09

Dec 21

RBI Monetary Policy: Omicron prompts ‘wait and watch

02

Dec 21

Q2 FY22 GDP: A strong sequential rebound

17

Nov 21

Oct-21 Trade Deficit: Slightly moderates, but remains elevated

16

Nov 21

Oct-21 Inflation: Concerns begin to brew

15

Nov 21

Sep-21 IIP: Slowdown visible as favourable base fades

01

Nov 21

Compact SUVs set to alter the landscape of the Indian PV sector

26

Oct 21

Acuité Insights – Banking Sector: Next phase of consolidation likely over FY22-24

16

Oct 21

Sep-21 Trade Deficit: At a record high

16

Oct 21

Sep-21 CPI Inflation: Uneasy comfort

14

Oct 21

Aug-21 IIP: Buoyed by favorable base

11

Oct 21

RBI Monetary Policy : A gradualist approach

11

Oct 21

Coal Shortages: Set to extend beyond power cuts

04

Oct 21

Q1 FY22 BOP: Swings into an ephemeral surplus

16

Sep 21

Aug-21 CPI Inflation: Comforting despite core risks

16

Sep 21

Aug-21 Trade Balance: En route to Normalization

13

Sep 21

Jul-21 IIP Sequentially Robust

09

Sep 21

Corporate Credit Quality: Apr-Aug’21

01

Sep 21

Q1 FY22 GDP: The statistical surge

17

Aug 21

Jul-21 Inflation: Provides marginal respite

16

Aug 21

Jul-21 Trade Balance: Moderate widening of deficit

16

Aug 21

Jun-21 IIP: A sequential turnaround

09

Aug 21

RBI Monetary Policy : Precursor for interest rate normalization

19

Jul 21

Jun-21 Trade Balance: A step towards normalization after Covid 2.0

15

Jul 21

JUN-21 CPI INFLATION: COMFORTING BUT RISKS REMAIN

14

Jul 21

MAY-21 IIP: SEQUENTIALLY DOWN

17

Jun 21

MAY-21 TRADE BALANCE: DEFICIT NARROWS ON SURGE IN COVID

05

Jun 21

RBI Monetary Policy: Unwaveringly accommodative

03

Jun 21

Q4FY21 GDP: Sprint before the storm

18

May 21

Apr-21 Trade Balance: Normalized deficit may narrow in the short term

14

May 21

Apr-21 CPI Inflation: Base factor provides relief

14

May 21

Mar-21 IIP: Base effect comes into play

10

May 21

RBI measures timely for the MFI sector

17

Apr 21

Mar-21 Trade Balance: Normalization process underway

15

Apr 21

Mar-21 CPI Inflation: Fuel plays spoilsport

14

Apr 21

Feb-21 IIP: Disappointments galore

08

Apr 21

RBI Monetary Policy: Steady on rates, salubrious on bonds

15

Mar 21

Feb-21 CPI Inflation: Quick rebound from the lows

15

Mar 21

Jan-21 IIP: Growing weary?

10

Mar 21

Spectrum Auction indicates further consolidation in telecom sector

01

Mar 21

Q3 FY21 GDP: Rising from the ashes

16

Feb 21

Jan-21 Trade Balance: Visible Normalization

15

Feb 21

Dec-20 IIP: Coming full circle

15

Feb 21

Jan-21 CPI Inflation: Finally at the 4.0% target!

09

Feb 21

RBI Monetary Policy : Status quo on rates; calibration on liquidity

18

Jan 21

Dec-20 Trade Balance: Nascent signs of a healing economy

14

Jan 21

Nov-20 IIP: Don’t miss the wood for the trees

14

Jan 21

Dec-20 CPI Inflation: A reset in the trajectory

29

Apr 20

Fiscal Stimulus equivalent to 4.8% of GDP desirable

11

Apr 20

Covid Crisis an opportunity for agriculture marketing reforms

07

Apr 20

High Systemic Liquidity in FY20 also a Function of Overwhelmed Reserve Money Offsets

07

Apr 20

COVID-19 intensifies headwinds for NBFCs

29

Mar 20

Impact of COVID-19 on GDP growth of FY21

28

Mar 20

Seventh Bi-Monthly Monetary Policy: Firing a bazooka and rearming for more

25

Mar 20

COVID-19 unlikely to put rupee under ventilator

16

Mar 20

COVID-19 to severely impact domestic airline operations

13

Mar 20

Lower global oil prices positive for India’s fiscal deficit

07

Mar 20

Yes Bank’s early revival critical for banking sector stability

02

Mar 20

Auto industry continues to remain under stress in Jan ‘20 owing to persistent weak buying sentiments

28

Feb 20

Donald Trump India Visit – How has the US – India Trade relations Evolved over the Years

18

Feb 20

An Assessment of Debt Obligations for FY21: Union Fiscal Deficit May Breach 3.8% mark next Fiscal

12

Feb 20

RBI 6th Policy Bi-Monthly Policy Statement Assessment

19

Jan 20

First Advanced GDP Estimate for FY20: Despite slowdown, output gap is narrow

17

Jan 20

Minor recovery in November IIP is a function of a favourable base effect

06

Dec 19

Fifth Bi-Monthly Monetary Policy Statement FY20: A Confusing Growth and Inflation Dynamic

02

Dec 19

Acuité slashes its FY20 GDP forecast to 5.2% from the erstwhile 6.1%

15

Nov 19

Q2 pegged at 5.1%. Change in unit production of higher value adding sectors impacting GVA

13

Nov 19

India’s Sovereign Rating Troubles: An Acuité Perspective

22

Oct 19

OEMs stare at a revenue decline of nearly 24% in Q2FY20

19

Oct 19

Impact of accommodative monetary policy maybe retarded but on core inflation it is inevitable

12

Oct 19

Persistently low prices behind low production estimates for food crops

03

Oct 19

Indian Automobile Sector is at the cusp of a transformation

24

Sep 19

By Using FRBM Act’s Escape Clause, GOI’s Recession Fighting Buffer May Reach Rs. 1.6 lakh crore

17

Sep 19

September second fortnight (Festive Offtake) indicates highest offtake in FY20 YTD

17

Sep 19

GDP Q1 Analysis: A persistent consumption slowdown may lead India into Stagflation

30

Aug 19

Economy Booster Package 2 has Focus on Banking Consolidation

27

Aug 19

Bimal Jalan Committee Recommendations on RBI Economic Capital Framework

23

Aug 19

Key Highlights: Finance Ministry’s First Economy Booster Package

22

Aug 19

Coal imports continue to surge in Q1 FY20 due to Insufficient Domestic Supply

09

Aug 19

Repercussions of Andhra's Move to Renegotiate Green Energy Tariffs

07

Aug 19

Federal Reserve Cuts Benchmark Interest Rates

31

Jul 19

Bihar & Assam Floods: A Case of Ineffective Fiscal Management Behind the Disaster

30

Jul 19

Monsoon Update: Area Under Sown July 2019

08

Jul 19

Union Budget 2019: Impact Analysis

27

Jun 19

Indian 10 Year Government Security yields may fall to 6.5% by end Q2 FY20

24

Jun 19

Among major states, highest proportion of rated entities have defaulted in Odisha and Chandigarh over a three-year period; Goa and Rajasthan record the lowest number in this regard

19

Jun 19

Average gross working capital (GWC) cycle for SMEs increased

14

Jun 19

The core and fuel baskets, may offset the rising food inflation in the near to medium terms

07

Jun 19

2nd MPC – FY 20: MPC cuts Repo further and changes stance to accommodative

27

Apr 19

Higher oil price and slowing global economy is expected to lower India’s export outlook

17

Apr 19

Food category pulls up the March inflation number marginally

10

Apr 19

Commentary: MPC – First Bi-Monthly Statement FY20

27

Mar 19

Indian 10 years forward yields have declined by 82 bps since September 2018; may decline further in a 6-month period despite upward pressures emanating from significant safe haven demand for US debt

22

Mar 19

RBI’s $5 Billion Currency Swap can meet three months of systemic shortfall; OMOs lose potency due to fast emerging collateral constraints

19

Mar 19

Improvement in trade deficit may help the CAD ratio to remains range bound. We peg the metric at 2.4% of GDP for FY19

12

Mar 19

Core inflation number for February, 2019 may lead to further accommodation in the monetary policy

07

Mar 19

Core sector January data indicates a slowing manufacturing activity despite robust growth in infrastructure related sectors. Electricity posts negative growth, first time in six years

01

Mar 19

India GDP grew by 6.6% in Q3 FY19; Overall financial year growth trimmed to 7%

28

Feb 19

Trade numbers hint improvement in CAD to GDP ratio

22

Feb 19

Impact of Budget FY20 on Government of India Fiscal Space

15

Feb 19

Industrial production to regain its momentum soon

14

Feb 19

Overweight food basket suppressing Indian Headline Inflation, which slips to an eighteen-month low of 2.06% in January 2019

13

Feb 19

MPC rate cut hints frontloading the system in order to stimulate the growth momentum but external realities deserve cognizance as well

05

Feb 19

Mild performance of energy sector leads core sector growth to 18 month low in December

01

Feb 19

Interim union budget analysis 2019-20

31

Jan 19

Cotton prices are expected to normalize on the back of slowing demand from China and the resultant supply glut. Related Indian exports may be therefore impacted

25

Jan 19

Indian Economy’s 1 Year Challenge: January FY18 Vs. January FY19

24

Jan 19

Cement price: We see cement prices to remain low in the foreseeable future due to lower capacity utilization levels as well as subsiding input cost pressures

19

Jan 19

Aluminium prices are softening both in the international as well as domestic market

16

Jan 19

Financial Stability Report & Report on Trend and Progress of Banking in India (NPA and Asset Classifications)

15

Jan 19

Fall in consumer inflation will translate into lower nominal growth and may therefore impact tax collections

11

Jan 19

Industrial growth slows in November 2018 but pockets of promising demand exist

10

Jan 19

Report on Trend and Progress of Banking in India (Schedule Commercial Bank Performance)

03

Jan 19

November Core Sector number driven by strong steel & coal growth; further growth expected in industrials due to lower fuel prices and rising disposable incomes impacting demand positively

28

Dec 18

Equity emerges as the most preferable option for manufacturing entities

22

Dec 18

Fed raises rates by 25 bps, 4th in 2018; dovish for 2019 but unemployment number hints inflationary tendencies

20

Dec 18

Food items continue to suppress inflation but categories such as healthcare and discretionary items show an upward trend signaling a strong core

17

Dec 18

Acuité Economic Outlook – January 2019

14

Dec 18

Higher value added manufacturing sector help IIP but base effect consideration remains

11

Dec 18

As input price pressures decline, PMI index hints further improvement in business sentiment

07

Dec 18

Indian economy likely to rebound strongly as negative factors waning

06

Dec 18

Commentary: RBI MPC 5th Bi-Monthly Meeting; Despite maintaining a hawkish stance, while the MPC sees some upside risk due to geo-political and commodity risks, the tone of its note is sterile and devoid of caution

30

Nov 18

New back series reveals that India grew slower than previously accepted

28

Nov 18

Slower growth in tax collection may translate into missing fiscal deficit target

23

Nov 18

Domestic liquidity may improve with the appreciation of Indian rupee against the USD

21

Nov 18

RBI November Board Meeting

16

Nov 18

Trade deficit likely to reduce with the fall in oil price

14

Nov 18

Profitability of firms will be healthy in second half of FY19

13

Nov 18

October Inflation number cools further as food continues to be a major deflator

02

Nov 18

PMI Index for October 2018 gives a sense of firms’ optimistic view on future demand

01

Nov 18

India Jumps to 77th Position in World Bank Ease of Doing Business Rankings 2019

31

Oct 18

Effective implementation of new Agro Export Policy imperative for increasing India’s global footprint

26

Oct 18

Growth driving sectors in Q2 FY19: Our assesment

22

Oct 18

Improvement in exports and tempered external consumption has helped lowering trade deficit

17

Oct 18

Poor performance of primary goods segment compensated by imports

15

Oct 18

Higher weightage to food items is artificially suppressing the inflationary trend

12

Oct 18

NRI deposits highest since FY14; May help stabilizing exchange rate and liquidity scenario

11

Oct 18

Net foreign inflows recover in FY19 YTD but remain susceptible to global volatility

10

Oct 18

OBICUS Survey on Manufacturing Sector sees finished goods inventories coming down substantially but raw material inventories are being shored up as risk of price increase looms

09

Oct 18

Global sector PMI index for September signifying strong global growth; India specific sectors such IT, Pharma, Chemicals and Banking record solid performance

05

Oct 18

MPC holds Repo rate at 6.50% but signals an end to its neutral stance

04

Oct 18

Infrastructure push help maintain consistent Core Industries expansion; Cement, electricity, steel and petro refinery record solid YoY and YTD growth

01

Oct 18

Manufacturing PMI maintains momentum on the back of new orders and robust inventory turnover; Rising input cost remains a concern though

28

Sep 18

Net LAF may soon turn positive along with RBI’s Open Market Operations as banks scramble for liquidity; WACR/Repo differential turns negative

26

Sep 18

At 69%, PSBs rapidly losing market share to Private Banks as well as RRBs; Incremental deposit mobilization for PSBs is currently recorded at only 12%

25

Sep 18

Increased domestic borrowings has put pressure on systemic liquidity; WACR/ Repo differential at 4 bps evokes liquidity pressures

24

Sep 18

Driven by high CV sales and consistent PV sales, demand for automobiles is growing faster than production over the past three years

21

Sep 18

Domestic steel makers unable to meet strong demand. Still lag in pricing and production efficiencies due to input cost escalations, poor logistics and slower technology upgrade

20

Sep 18

States facing tremendous pressure from Negative Carry, that now stands at 183 bps (Part 2/2)

19

Sep 18

Depreciating Rupee has successfully reduced India’s Non-Petroleum trade deficit by $500 million

17

Sep 18

Intermediate Goods data does not corroborate with solid Consumer Goods performance

14

Sep 18

Headline inflation deflated by healthy supply of seasonal vegetables

10

Sep 18

Contribution of lower duration debt among public maturity bucket, highest in three years

08

Sep 18

India’s economy becoming more energy efficient; Lower units of energy required for every incremental Rupee worth of GDP

08

Sep 18

A strengthened e-NAM critical for India’s farm income security & obviating the need for wasteful compensatory Government expenditure

07

Sep 18

Fertilizer imports increase by 64% in value terms and 27.5% in unit terms in YTD FY19

04

Sep 18

Trump led trade wars may be benefiting Indian manufacturing at the cost of China

03

Sep 18

Favorable base effect drives Core industry July, FY19 results; Steel and Electricity an exception

31

Aug 18

Q1 FY19 GDP Numbers

29

Aug 18

Kharif Season Estimates of Agro Production

28

Aug 18

Bank asset size has significant influence on its financial performance

24

Aug 18

Rising coal import bill

22

Aug 18

July Trade Data

21

Aug 18

Impact Assessment of Kerala Floods 2018

20

Aug 18

July Inflation Number

13

Aug 18

IIP Data for June 2018

10

Aug 18

US Forex Reserves a Proxy of Dollar Strength

09

Aug 18

RBI Dividend Payout to the Government of India

07

Aug 18

Impact Assessment of 14th Finance Commission on States (Part 1/2)

06

Aug 18

RBI’s Forward Looking Surveys

03

Aug 18

June 2018 Core Industry and July PMI Data

02

Aug 18

RBI MPC raises REPO by 25 bps

01

Aug 18

Rupee’s value shedding has been third worst among peers

31

Jul 18

Double digit growth in select sectors driven by strong consumption in Q1 FY19

30

Jul 18

Manufacturing MSME export share increases

26

Jul 18

Reduction of GST on over 50 items

25

Jul 18

Impact of MSP on agro industry and realizable prices

24

Jul 18

Indian 10 Year Government Debt Yields

23

Jul 18

India Trade Data, June, 2018 and YTD FY19

11

Jun 18

Acuité Ratings & Research Note: Capital Goods drives Q4 GDP Growth, which stands at 7.7%

11

Jun 18

Rs. 4.5 lakh Cr. lending opportunity for NBFCs and private sector banks

08

Jun 18

Acuite Rating & Research Note: RBI MPC’s second bi-monthly monetary policy statement

01

Jun 18

Modicare - a big leap towards universal health coverage

09

Feb 18

MSME’s Financing Landscape Set to Undergo a Transformation

06

Feb 18

Budget strong on intent - Implementation is the key to growth sustainability

31

Jan 18

SMERA Pre-Budget Commentary - FY 2018-19

08

Jan 18

SMERA CEO, Sankar Chakraborti comments on the CRA new regulations by SEBI

12

Dec 17

SMERA view on Fifth bi-monthly MPC meet

04

Dec 17

Q2 GDP growth signals economic revival

29

Nov 17

Credit offtake hints at recovery in business activities

20

Nov 17

Rating upgrade reinforces strength of Indian economy

16

Nov 17

Sept IIP nos reflect solid growth of manufacturing sector

13

Nov 17

Further steps on GST to boost consumption

25

Oct 17

Banks’ recapitalisation package positive for the economy

09

Oct 17

Significant relief for MSMEs in GST structure

04

Oct 17

Core sector marks recovery in industrial production

03

Oct 17

Key macro variables

28

Sep 17

Analysis: Stronger export growth to benefit MSMEs

25

Sep 17

Monsoon report: Food grain output growth looks positive

15

Sep 17

CPI likely to remain firm in H2, 2017

13

Sep 17

Tyre and automobile industry may face margin pressure

09

Sep 17

Cattle Feed industry likely to witness strong demand

07

Sep 17

Impact Analysis: Appreciation of rupee - impact on MSMEs

01

Sep 17

Commentary: Consumption to drive India’s GDP growth

28

Aug 17

Analysis: Corporate bond issuances by cos show growth

26

Aug 17

Monsoon Report June, 2017

23

Aug 17

Impact Analysis: Engineering sector may have a trade surplus by end of FY18

18

Aug 17

Impact Analysis: SAMPADA scheme will play a major role in shoring up Agricultural capacity utilization levels

17

Aug 17

SMERA Commentary: Economic Survey, Volume II, 2016-17

14

Aug 17

Impact Analysis: Industrial production index - June, 2017

10

Aug 17

Impact Analysis: World Economic Outlook

04

Aug 17

MONSOON REPORT JULY 2017

02

Aug 17

SMERA Commentary: Third RBI Bi-Monthly Policy Meeting

01

Aug 17

Impact Analysis: India’s coal production and import will fall due to bettering station heat rate

29

Jul 17

Impact Analysis: Anti-Dumping Duty

27

Jul 17

Impact Analysis: Cotton production sets record over the previous years.

23

Jul 17

FDI in India: Modi must address regional disparities for economic growth

21

Jul 17

Impact Analysis: Sports Industry and post GST scenario

17

Jul 17

Impact Analysis: India’s trade balance remains steady at -$12.9 bn

13

Jul 17

SMERA Commentary: Consumer Price Index & IIP: June, 2017

11

Jul 17

Impact Analysis: Industry Status to Agriculture Sector

08

Jul 17

Impact Analysis: Benefits of Indo-Israel Partnership to be pan-industry

04

Jul 17

SMERA Commentary: Cement Industry recovers post demonetisation with a 1.5% production growth in May ‘17

24

Jun 17

Impact Analysis: In FY15/16, operating expenses grew much slower as compared to profits for Indian corporate

21

Jun 17

Impact Analysis: Performance of Non-Government Non-Financial Private Companies in the previous two financial years remained uneventful

19

Jun 17

SMERA Commentary: India's Insolvency and Bankruptcy Framework

16

Jun 17

Impact Analysis: Fed rate hike unlikely to impact capital flows and exchange rate over the medium term

14

Jun 17

Impact Analysis: IIP numbers suffer due to persistently high inventory levels in the system

09

Jun 17

SMERA Commentary: RBI’s second bi-monthly monetary policy statement

05

Jun 17

Impact Analysis: A larger WPI deflator responsible for lower than expected Q4 growth.

29

May 17

Impact Analysis: Government's New Procurement Policy

26

May 17

Impact Analysis: China’s current capacity cut downs and lower inventories helping Indian exports

23

May 17

Impact Analysis: GST & Select Sectors (Part 1)

19

May 17

Cotton spot to breach Rs, 45,000 per candy threshold

17

May 17

Impact Analysis: Appreciating Rupee may be encouraging imports; India’s trade deficit reaches a 28 month high

15

May 17

Impact Analysis: Capital Goods category's ‘Work in Progress’ perspective will change the way we look at this category

13

May 17

Impact Analysis: Expansion of Core inflation a cause of concern because its build-up can be relentless, as indicated by a low standard deviation.

11

May 17

SMERA Commentary: Credit Offtake marginally improves in April 2017 after bottoming out in February

10

May 17

SMERA Ratings finds positive impact of the new Banking Regulation Act - Indian Tiny Star

09

May 17

Impact Analysis: French Election results point towards ECB raising rates in the near term

05

May 17

SMERA Commentary: Banking Regulation Act amendment will help break the Twin Balance Sheet deadlock currently faced by the economy

04

May 17

SMERA Commentary: FY17 may end with a solid industrial growth in Q4

02

May 17

Sector Alert: Cement Industry contracts first time in 12 years.

29

Apr 17

Impact Analysis: India’s Defense capital expenditure is set to increase by over 80% by 2020

28

Apr 17

Impact Analysis: Profitability of food processing industry has been improving as Indian FPI declines compared to Global averageImpact Analysis: Profitability of food processing industry has been improving as Indian FPI declines compared to Global average

25

Apr 17

Impact Analysis: Consumer Durables category expected to grow by 10% in FY18 and beyond

24

Apr 17

Sector Alerts: Sugar price unlikely to fall significantly in FY18, despite duty free imports

21

Apr 17

Impact Analysis: Corporate top lines may be positively impacted by rising inflation