17 April 2024

Financial Express

According to economists, while the war could push crude above $100 per barrel, managing within that price range is feasible. Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research, said, "Although crude oil prices are yet to rise sharply beyond $90 per barrel, there is a significant likelihood that it will breach the $100 levels if the conflict intensifies further over West Asia.”

14 April 2024

Financial Express

Meanwhile, Suman Chowdhury, Chief Economist & Head of Research, Acuité Ratings & Research, said, "While the sequential inflation has been quite benign for food and beverages at 0.2 per cent MoM in Mar’24, the concerns around food inflation remain given the prediction of an intense summer over the next 2-3 months. On an annualized basis, cereal inflation remains high at 8.4 per cent along with a significant increase in egg, fish, and meat category to 6.7 per cent in March. With reduced availability of animal feed in the summer months, there can be a further rise in the latter category.”

08 April 2024

Money Control

Even Suman Chowdhury, Chief Economist and Head, Research, Acuité Ratings & Research, says that a possibility of a rate cut by the RBI in August 2024 also depends on clarity on the risks from Red Sea disturbance (which has primarily led to the uptick in crude oil prices), and the timely onset of South-West monsoon.

06 April 2024

SME Futures

05 April 2024

Financial Express

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research

"RBI MPC has kept the status quo on the interest rates and the monetary stance in the first meeting of FY25 and for the seventh consecutive time. Not surprisingly, RBI has continued to reaffirm its commitment to disinflation and price stability without providing any guidance on the timing of the monetary policy pivot. The central bank would continue to be watchful about the increased crude oil prices and any upward risks in food inflation in the near term, given the forecast of an intense upcoming summer season. The governor highlighted the significance of keeping the "elephant in the forest” (metaphor for high inflation) for a durable period.

05 April 2024

News18

Suman Chowdhury, chief economist and head (research) at Acuité Ratings & Research, said, "The central bank would continue to be watchful about the increased crude oil prices and any upward risks in food inflation in the near term, given the forecast of an intense upcoming summer season. Given the tone of the MPC statement and the expectation of strong domestic growth, we believe that there is a low likelihood of any rate cut by RBI before October 2025.”

05 April 2024

Business World

Experts weighed in on the RBI's decision and its implications for the economy. Deepak Ramaraju, Senior Fund Manager at Shriram AMC, highlighted the uncertainty surrounding the timing of a potential rate cut, citing upward pressures from food prices and crude oil shocks. Suman Chowdhury, Chief Economist and Head of Research at Acuité Ratings & Research, underscored the RBI's optimistic GDP growth forecast for FY25 while maintaining a relatively moderate outlook on domestic growth prospects.

05 April 2024

Republic World

RBI MPC has kept the status quo on the interest rates and the monetary stance in the first meeting of FY25 and for the seventh consecutive time. Not surprisingly, RBI has continued to reaffirm its commitment to disinflation and price stability without providing any guidance on the timing of the monetary policy pivot. The central bank would continue to be watchful about the increased crude oil prices and any upward risks in food inflation in the near term, given the forecast of an intense upcoming summer season. The governor highlighted the significance of keeping the "elephant in the forest” (metaphor for high inflation) for a durable period.

The growth expectations for RBI continues to be strong with the GDP growth forecast for FY25 retained at 7.0%, reaffirming the strong momentum in domestic economic activity.

05 April 2024

Moneycontrol

05 April 2024

The Week

14 March 2024

Zee News

Suman Chowdhury, Chief Economist and Head -Research, Acuité Ratings & Research said, "The deflationary trend in manufacturing goods may reverse only gradually over the next few months. Overall WPI inflation print is expected will be shaped by the trend in the food category and in the absence of any major surprises, should remain range bound between 0%-1.0% over the next two quarters.”

13 March 2024

Financial Express

Suman Chowdhury, Chief Economist & Head of Research, Acuité Ratings & Research, meanwhile, said that going ahead in the summer months, hotter weather conditions can raise the upward risks for food and thereby, the overall inflation.

13 March 2024

SME Futures

According to Suman Chowdhury, Chief Economist and Head of Research at Acuité Ratings & Research, there has been a slight moderation in IIP growth in January 2024, standing at 3.8 per cent compared to 4.2 per cent in December 2023.

11 March 2024

Financial Express

The average readings for both PMI Manufacturing and Services in the first two months of the current quarter is well above the average witnessed in the previous quarter, reflecting the continuing buoyancy of the Indian economy, said Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research. "While there has been a slowdown in the agricultural sector induced by the El Nino factor, both the manufacturing and the services have continued to display their resilience,” he said. Accordingly, the firm has revised upwards its forecasts for FY24 GVA and GDP to 6.9 per cent and 7.6 per cent respectively in line with that of NSO.

06 March 2024

Financial Express

With NSO revising its GDP growth estimate to 7.6 per cent for FY24 and pegging Q3 growth at 8.4 per cent, RBI’s economic growth forecast at 7.0 per cent in FY25, headline inflation subsiding to around 5.0 per cent, core inflation dropping below 4.0 per cent, the optimism on the domestic economy seems to be improving by the month, said Acuité Ratings & Research in a report. Although GVA growth remained at 6.5 per cent in the previous quarter, GDP growth has been sharply higher due to higher tax collections net of subsidies.

05 March 2024

Financial Express

Even as the combined Index of Eight Core Industries (ICI) increased at a moderate 3.6 per cent on-year in January 2024 which is a 15 month low print on an annualised basis, Acuité Ratings & Research Ltd said that the core sector along with the manufacturing sector is expected to be one of the key drivers of the economy over the medium term.

05 March 2024

Business World

Security receipts are instruments issued by asset reconstruction companies for the purchase of stressed debt, showing interest in the underlying assets. Hithodi Infra is a company formed between Patel Engineering (PEL) and an Eight Capital Group entity. According to an Acuite Ratings and Research report, it was formed to reduce the debt burden of PEL.

01 March 2024

Investing.com
 
The higher-than-expected momentum in the economy may lead to a tight monetary policy from the RBI for a longer period, and any reversal in the current stance is unlikely over the next six months, said Suman Chowdhury, Chief Economist and Head of Research at Acuite Ratings.The second advance estimates of GDP for FY24 released by the National Statistics Office (NSO) has indeed sprung a major surprise in the markets. The GDP growth for Q3FY24 is pegged sharply higher at 8.4 per cent, as compared to the consensus estimate of 6.6 per cent, Chowdhury said.

01 March 2024

The Economic Times

Suman Chowdhury, chief economist at Acuité Ratings & Research, said, "Clearly, the higher-than-expected momentum in the economy may lead to a tight monetary policy from the RBI for a longer period and any reversal in the current stance is unlikely over the next six months.”

01 March 2024

Financial Express

Suman Chowdhury, Chief Economist & Head of Research, Acuité Ratings

The second advance estimates of GDP for FY24 released by NSO has indeed sprung a major surprise on the markets. One of the key reasons for the material shift in the GDP print is the revisions in the GDP data for some quarters of the previous fiscal.

26 February 2024

Reuters
 
"While a moderation is expected in government capital expenditure in FY25, at least in the first two quarters of the fiscal year, private investments are likely to pick up. But the pace of pickup may be gradual," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

26 February 2024

Business Standard
 
"While a moderation is expected in government capital expenditure in FY25, at least in the first two quarters of the fiscal year, private investments are likely to pick up. But the pace of pickup may be gradual," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

26 February 2024

The Print
 
"While a moderation is expected in government capital expenditure in FY25, at least in the first two quarters of the fiscal year, private investments are likely to pick up. But the pace of pickup may be gradual,” said Suman Chowdhury, chief economist at Acuite Ratings and Research.

14 February 2024

SME Futures
 
Suman Chowdhury, Chief Economist and Head of Research at Acuité Ratings & Research, commented on the WPI January data, noting that the trajectory was slightly more benign than anticipated, with the index slipping to 0.27% year-on-year from 0.73% year-on-year. Chowdhury highlighted the continued deflationary trend in wholesale food prices, contributing to a -0.33% sequential contraction in the index during January.

14 February 2024

Money Control
 
"In the near term, the deflationary trend in manufactured goods is likely to remain. Overall WPI inflation print is expected to be shaped by the trend in the food category and in the absence of any major surprises, should remain range bound between 0 percent-1.0 percent over the next two quarters," says Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research

13 February 2024

Financial Express
 
With India’s retail inflation moderated to a three-month low of 5.1 per cent in January due to easing food prices, economists and experts said that RBI may look at cutting interest rates during the second half of the fiscal year. Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research, said, "In the latest MPC meeting, RBI has already indicated its close watch on the ‘last mile of disinflation’. Any change in the monetary policy stance and any rate cut is unlikely before Aug’24. The rate decision by the Fed and other developed nations will also be a factor in the MPC stance in the current calendar year apart from the domestic inflation trajectory.”

13 February 2024

Live Mint
 
Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research said the upside risks from the continuing El Nino phenomenon and its impact on the rabi crop output can’t be discounted at this point. However, the retail core inflation is estimated to stand at 3.6 per cent in Jan'24, providing comfort to the central bank, as per Chowdhury.

12 February 2024

Reuters
 
"Core inflation has come down to a comfort zone below 4% and we believe it is likely to be stable in the near term despite pressures on food inflation, if any," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

12 February 2024

News18
 
"Core inflation has come down to a comfort zone below 4 per cent and we believe it is likely to be stable in the near term despite pressures on food inflation, if any,” said Suman Chowdhury, chief economist at Acuite Ratings and Research.

12 February 2024

Republic World
 
Suman Chowdhury, chief economist at Acuite Ratings and Research, commented "Core inflation has come down to a comfort zone below 4% and we believe it is likely to be stable in the near term despite pressures on food inflation, if any,"

09 February 2024

The Indian Express
 
GDP growth in the second quarter of the current financial year has been significantly higher than market and RBI’s forecasts at 7.6 per cent, translating to a robust growth of 7.7 per cent in the first half of FY24. "We expect a moderation in growth in the second half of the year given the impact of El Nino on rainfall in the current year and its consequent effect on agricultural output and rural demand. Some of the high frequency indicators such as two-wheeler and FMCG sales as well as higher demand for MGNREGS reflect a weakness in rural incomes,” Suman Chowdhury, Chief Economist and Head, Research, Acuité Ratings & Research.

09 February 2024

The Economic Times
 
"Core inflation has come down to a comfort zone below 4% and we believe it is likely to be stable in the near term despite pressures on food inflation, if any," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

09 February 2024

Live Mint
 
Suman Chowdhury, the chief economist at Acuite Ratings and Research, notes that core inflation has reached a comfortable level below 4 percent. Despite potential pressures on food inflation, stability is expected in the near term.

09 February 2024

Business Standard
 
"Core inflation has come down to a comfort zone below 4 per cent and we believe it is likely to be stable in the near term despite pressures on food inflation, if any," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

08 February 2024

Business Insider
 
"It was no surprise that RBI MPC decided to keep the status quo on the interest rates for the sixth consecutive time. However, RBI continued to sound hawkish as against the market expectations and has not provided any indication of the timing of the change in monetary stance from withdrawal of accommodation," said Suman Chowdhury, Chief Economist and Head - Research, Acuite Ratings & Research.

08 February 2024

The Week
 
"Given the tone of the MPC statement and the expectation of growth buoyancy, we believe that the likelihood of any rate cut by RBI has significantly reduced over the next six months," said Chowdhury.

08 February 2024

Zeebiz

Holding a similar view, Suman Chowdhury, Chief Economist and Head of Research, at Acuité Ratings & Research, anticipates the status quo at least until June 2024. Thereafter, a rate cut totalling 50–75 bps in the next six months is anticipated by the expert. The policy stance may, however, be changed to neutral by April 24, given the low likelihood of a further rise in interest rates, Chowdhury added.

08 February 2024

Investing.com
 
"Core inflation has come down to a comfort zone below 4% and we believe it is likely to be stable in the near term despite pressures on food inflation, if any," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

08 February 2024

SME Times
 
"It was no surprise that RBI MPC decided to keep the status quo on the interest rates for the sixth consecutive time. However, RBI continued to sound hawkish as against the market expectations and has not provided any indication of the timing of the change in monetary stance from withdrawal of accommodation,” said Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research.

07 February 2024

Zeebiz
 
Holding a similar view, Suman Chowdhury, Chief Economist and Head of Research, at Acuité Ratings & Research, anticipates the status quo at least until June 2024. Thereafter, a rate cut totalling 50–75 bps in the next six months is anticipated by the expert. The policy stance may, however, be changed to neutral by April 24, given the low likelihood of a further rise in interest rates, Chowdhury added.

06 February 2024

The Hindu Business Line
 
Stock Market Live Today: Acuité Ratings & Research on Jan’24 PMI Indices

02 February 2024

Outlook Planet

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research

02 February 2024

SME Futures


In the aftermath of the presentation of the Interim Budget 2024, Acuité Ratings & Research Limited delves into the nuanced policy landscape, shedding light on the four pivotal themes highlighted by the government. Chief Economist and Head of Research at Acuité, Suman Chowdhury, offers a comprehensive analysis, deeming the budget as far from a non-event, contrary to initial perceptions.

02 February 2024

Investing.com
 
Chennai, Feb 2 (IANS) The Central government may not offer any tax relief or concessions even in the post-election full budget owing to its financial constraints, said a top economist at credit rating agency Acuite Ratings & Research. On the absence of tax reliefs or concessions in the Interim Budget presented by Finance Minister Nirmala Sitharaman in the Parliament on Thursday, Acuite's Chief Economist and Head, Research, Suman Chowdhury said: "In our opinion, such concessions are unlikely even in the post-election full budget exercise given the fiscal constraints and the criticality of fiscal consolidation."

01 February 2024

The Economic Times

Suman Chowdhury, chief economist and head - Research, Acuite Ratings & Research, said, "Given the priority that is likely to be given for fiscal consolidation in the upcoming Budget, we don't expect any significant fiscal stimulus in it. However, the government may continue to earmark a significant quantum for capital expenditure with a growth of 15 per cent in its budgetary allocation; the latter will continue to be a primary driver of the domestic economy over the medium term".

01 February 2024

Deccan Herald

Suman Chowdhury, chief economist and head - Research, Acuite Ratings & Research, said, "Given the priority that is likely to be given for fiscal consolidation in the upcoming Budget, we don't expect any significant fiscal stimulus in it. However, the government may continue to earmark a significant quantum for capital expenditure with a growth of 15 per cent in its budgetary allocation; the latter will continue to be a primary driver of the domestic economy over the medium term"

31 January 2024

Financial Express

With the Finance Minister Nirmala Sitharaman all set to present the interim Budget for the fiscal year 2024-25 on February 1, 2024, economists said that despite it being a vote on account, the government will continue with thrust on fiscal consolidation, easements of business and taxation laws, infrastructure, MSMEs, and financial inclusion. Suman Chowdhury, Chief Economist and Head-Research, Acuité Ratings & Research, said, "Given the priority that is likely to be given for fiscal consolidation in the upcoming budget, we don’t expect any significant fiscal stimulus in it. However, the government may continue to earmark a significant quantum for capital expenditure with a growth of 15 per cent in its budgetary allocation; the latter will continue to be a primary driver of the domestic economy over the medium term.”

31 January 2024

Live Mint

Suman Chowdhury, chief economist and head - Research, Acuite Ratings & Research, said, "Given the priority that is likely to be given for fiscal consolidation in the upcoming Budget, we don't expect any significant fiscal stimulus in it. However, the government may continue to earmark a significant quantum for capital expenditure with a growth of 15 per cent in its budgetary allocation; the latter will continue to be a primary driver of the domestic economy over the medium term".

31 January 2024

NDTV Profit 

Given the unfavourable base of December 2022, there was an expectation of a significant moderation in core sector growth in December 2023, said Suman Chowdhury, chief economist at Acuite Ratings. Nevertheless, the sequential growth has been healthy at 5.9%.

29 January 2024

Business Today

"Given the priority that is likely to be given for fiscal consolidation in the upcoming Budget, we don’t expect any significant fiscal stimulus in it. However, the government may continue to earmark a significant quantum for capital expenditure with a growth of 15 per cent in its budgetary allocation; the latter will continue to be a primary driver of the domestic economy over the medium term," said Suman Chowdhury, Chief Economist and Head-Research Acuité Ratings & Research.

29 January 2024

Business Today

"The government may continue to earmark a significant quantum for capital expenditure with a growth of 15 per cent in its budgetary allocation," said Suman Chowdhury, Chief Economist and Head-Research Acuité Ratings & Research. Investors keenly await the Budget 2024 presentation, due on February 1.

24 January 2024

mint

"While the Indian economy is on a strong momentum...there are signs of a moderation on account of a weakness in private consumption demand," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

24 January 2024

Business Standard

"While the Indian economy is on a strong momentum...there are signs of a moderation on account of a weakness in private consumption demand," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

22 January 2024

News18

"While the Indian economy is on a strong momentum…there are signs of a moderation on account of a weakness in private consumption demand,” said Suman Chowdhury, chief economist at Acuite Ratings and Research.

24 January 2024

Business World

Suman Chowdhury, Chief Economist at Acuite Ratings and Research added that although the Indian economy is still growing quickly, there are signs that it is slowing down because of a decline in demand for private spending. He emphasised the reliance on government initiatives to create jobs and raise disposable incomes for a larger segment of society.

22 January 2024

ET Auto

India's merchandise trade deficit narrowed further to a 5-month low of USD 19.8 billion in December 2023 from USD 20.6 billion in November 2023. The sequential correction was entirely on account of exports, which posted a faster increase vis-a-vis imports, as per a report by Acuite Ratings and Research.

21 January 2024

investing.com

India’s merchandise trade deficit narrowed further to a 5-month low of $19.8 billion in December 2023 from $20.6 billion in November 2023. The sequential correction was entirely on account of exports, which posted a faster increase vis-a-vis imports, as per a report by Acuite Ratings and Research.

19 January 2024

Money control

"Global growth is expected to remain weak in 2024, especially in the first half, as the impact of higher interest rates would be realised in the period. Weak growth of developed economies and lower China demand would overall result in weak oil demand globally despite supply challenges. Currently, it is difficult to visualise crude oil prices going towards $85 or $90 per barrel,” said Suman Chowdhury, Chief Economist and Head of Research, Acuite Ratings and Research.

15 January 2024

Business Insider

Suman Chowdhury, Chief Economist and Head - Research, Acuite Ratings & Research said, "On expected lines, the WPI trajectory has continued to be benign at 0.73% YoY in Dec-23 from 0.26% YoY in Nov-23. While the slight annualised uptick is on account of the base factor, there is a sequential contraction by 0.9% which is seasonally driven due to the softness in food articles."

15 January 2024

Zeenews India

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research said, ""On expected lines, the WPI trajectory has continued to be benign at 0.73% YoY in Dec-23 from 0.26% YoY in Nov-23. While the slight annualised uptick is on account of the base factor, there is a sequential contraction by 0.9% which is seasonally driven due to the softness in food articles."

15 January 2024

investing.com

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research said, "On expected lines, the WPI trajectory has continued to be benign at 0.73 per cent YoY in Dec-23 from 0.26 per cent YoY in Nov-23. While the slight annualised uptick is on account of the base factor, there is a sequential contraction by 0.9 per cent which is seasonally driven due to the softness in food articles."

15 January 2024

NDTV Profit

While the slight annualised uptick is on account of the base factor, the sequential contraction was seasonally driven, due to the softness in food articles, said Suman Chowdhury, chief economist and head of research at Acuité Ratings & Research Ltd.

15 January 2024

The Hindu Business Line

Stock Market Live Today: Suman Chowdhury of Acuité Ratings & Research on IIP data

"Industrial output for Nov-23 has disappointed even factoring in the impact of the festival holidays during the month and the adverse base factor. IIP has recorded a modest growth of 2.4% YoY, the lowest print in eight months since Mar-23. The IIP figure has been pulled down by the manufacturing sector which posted the lowest annualized growth of 1.2% in 13 months after a solid momentum in the early part of the fiscal. While a moderation in industrial activity is typically seen in the post festive season, the extent has taken us by surprise.While the slight annualised uptick is on account of the base factor, the sequential contraction was seasonally driven, due to the softness in food articles, said Suman Chowdhury, chief economist and head of research at Acuité Ratings & Research Ltd.

12 January 2024

Republicworld

CPI inflation for Dec-23 has been largely in line with expectations at 5.7 per cent YoY slightly higher compared to 5.6 per cent in Nov-23. This has translated to a quarterly average of 5.4 per cent for the third quarter of the fiscal as compared to the RBI forecast of 5.6 per cent for the quarter," Suman Chowdhury, Chief Economist and Head- Research, Acuité Ratings & Research said. According to Chowdhury, retail core inflation is estimated to stand at 3.9 per cent in Dec-23, providing comfort to the central bank. Expectedly, food and beverages inflation stood high at 9.5 per cent due to the continuing firmness in the prices of pulses and cereals

12 January 2024

NDTV Profit

CPI inflation for December 2023 has been largely in line with expectations, translating into an average of 5.4% for the third quarter of the fiscal as compared with the RBI forecast of 5.6%, said Suman Chowdhury, chief economist and head of research at Acuité Ratings.

12 January 2024

Business Insider

"Industrial output for Nov-23 has disappointed even factoring in the impact of the festival holidays during the month and the adverse base factor. IIP has recorded a modest growth of 2.4% YoY, the lowest print in eight months since March 2023," said Suman Chowdhury, chief economist & head of research of Acuite Ratings & Research.

12 January 2024

investing.com

"Industrial output for Nov-23 has disappointed even factoring in the impact of the festival holidays during the month and the adverse base factor. IIP has recorded a modest growth of 2.4 per cent YoY, the lowest print in eight months since Mar'23," Acuite Ratings & Research's Chief Economist & Head of Research Suman Chowdhury said

12 January 2024

SME Times

Industrial output for Nov-23 has disappointed even factoring in the impact of the festival holidays during the month and the adverse base factor. IIP has recorded a modest growth of 2.4 per cent YoY, the lowest print in eight months since Mar'23," Acuite Ratings & Research's Chief Economist & Head of Research Suman Chowdhury said

09 January 2024

Money Control

"Oil companies, such as IOCL and BPCL, have announced rights issues and the government was supposed to put in their funds. While the government would put in some funds, it is expected to be less than the budgeted amount. This would mainly be done to ensure that the fiscal deficit is under control. So, the oil PSUs may see lower budgetary support in the current year,” Suman Chowdhury, Chief Economist and Head of Research, Acuite Ratings & Research, said.

09 January 2024

Republic World

09 January 2024

Business Today

Suman Chowdhury, Chief Economist and Head–Research, Acuité Ratings & Research, said that the PMI Composite improved to 58.5 in December 2023 from 57.4 in November 2023 driven by the higher PMI services print. "On a quarterly basis, the moderation in the growth of economic activity is evident from the average PMI Composite, which slipped to 58.1 in the third quarter of the fiscal from 61.3 in the second quarter and 60.9 in the first quarter.”

09 January 2024

Money Control

08 January 2024

Financial Express

"The RBI has expanded the list of eligible CP issuers through these guidelines,” Suman Chowdhury, chief economist and head of research, Acuite Ratings & Research, told FE. "Some REITs and InvITs which raise funds from bond market may tap the CP market for funds. There will be some increase in issuances. To what extent, we need to see.”

08 January 2024

The Hindu Business Line

Stock market live updates: Here's what Suman Chowdhury, Chief Economist and Head –Research, Acuité Ratings & Research, said about Dec’23 PMI indices

08 January 2024

Money Control

Acuité Ratings & Research's Chief Economist Suman Chowdhury predicts the government to announce some framework for private exploration of critical minerals. "Since they are already in process of inviting bids, some framework is likely to be announced," he added.

03 January 2024

Business Today

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research said the agency has revised its GDP growth forecast to 6.% from the initial estimate of 6% for the fiscal after the second quarter data. "We have been a little cautious because of the expectation that there is a slowdown in rural economy,” he said, adding that manufacturing will continue to be a driver for growth while service sector could see some moderation in growth.

03 January 2024

Republic World

03 January 2024

The Hindu Business Line

03 January 2024

The Economic Times

03 January 2024

Republic World

02 January 2024

The Hindu Business Line

Stock Market Live Today: Acuité Macroeconomic Performance Index sees moderation in November

After reaching an all-time high in October 2023, Acuité Macroeconomic Performance Index (AMEP index) witnessed a moderation in November 2023 by dropping 9.1 %MoM. While this may be partly due to the typical seasonal moderation in economic activity post the peak festive season, this also reflects the likelihood of a slowdown in the robust pace of economic activity in the remaining fiscal period.

29 December 2023

Republic World

29 December 2023

NDTV

Expectedly, there has been a moderation in core sector growth in November to 7.8% year-on-year as compared to the double-digit print in October 2023, Suman Chowdhury, chief economist and head of research at Acuité Ratings, said. The differential in economic activity during these months can be attributed to the festival dates and the seasonality attached to it, he explained. On a cumulative basis,the eight core industries index has witnessed strong 8.6% annual growth in the April–November 2023 period, which continues to reflect the high public investments in infrastructure, he added.

29 December 2023

CNBC TV18

Suman Chowdhury, chief economist and head of research of Acuité Ratings & Research said, "Expectedly, there has been a moderation in core sector growth in Nov-23 to 7.8% YoY as compared to the double-digit 12.0% print in Oct-23. The differential in the economic activity during these months can be attributed to the festival dates and the seasonality attached to it."

19 December 2023

Money Control

"We don't expect a sustained impact (on oil prices) unless there is a larger escalation. This spike is triggered by a rebel attack and is unlikely to continue. We don't expect prices to go beyond $78 a barrel," said Suman Chowdhury, Chief Economist and Head, Research, Acuité Ratings & Research.

19 December 2023

Money Control

Suman Chowdhury, chief economist & head of research, Acuite Ratings & Research

One of the key policy measures in the last nine years has been the notification of the National Policy on Bio Fuels in 2018, which has been further amended in 2022. The policy primarily incentivises the production of ethanol not only from sugarcane but also from food grain waste and other agro-commodities. The country has already achieved 12 percent ethanol blending with petrol in the current fiscal and has advanced the target of 20 percent to FY26 instead of FY30. This will reduce the import dependence of crude oil to a moderate extent.

14 December 2023

Business Today

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research said WPI inflation is expected to inch up gradually over the next few months, given healthy industrial and consumer demand amidst the backdrop of steady food inflation. This is set to hold CPI inflation in the range of 5%-5.5% over the next two quarters.

14 December 2023

Money Control

We expect the Fed to act quicker than expected if the data points on the US economy in the current and next quarter show a significant decline in the growth signals. In our opinion, any rate cut before Mar-24 is unlikely but if there are signs of a recession, the Fed is likely to take an accelerated route to lower interest rates. This may also translate into a pivot in the repo rates in India earlier than envisaged in May-June’24 provided, however, the headline inflation stays within the 5% figure. Such an expectation may drive a rally in Indian bond markets. .

14 December 2023

Republic World

"Expectedly, India’s wholesale inflation (WPI) has moved from the deflationary to the inflationary zone, reporting a figure of 0.26 per cent YoY in Nov-03 vs -0.52 per cent YoY in Oct-23. After seven months since Mar-23, wholesale inflation has reverted to the positive domain. Sequentially, the WPI index has risen by 0.53 per cent, the highest since Jul-23 and has been driven by a jump in prices of onions and pulses in particular which has translated to a 2.62% MoM inflation in primary food articles. Wholesale food inflation has increased to 4.69 per cent YoY compared to 1.07 per cent YoY in Oct-23,” Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research

13 December 2023

Republic World

The retail inflation in November has quickened from 4.87 per cent in October to 5.55 per cent in November this fiscal. However, the overall inflation number at 5.5 per cent in November is lesser than 5.88 per cent in the same month last year. The retail inflation is the highest in the last three months since August, and the inflation print in November was lower than the estimated inflation by economists at 5.8 per cent. "CPI Inflation for November 23 at 5.55 per cent has been largely in line with our forecast which stood at 5.40 per cent YoY. While this has been significantly higher than the 4.87 per cent print of October 23, it is somewhat lower than the expectations of many economists. Clearly, the prime driver of the pickup in inflation is food inflation which rose to 8.7 per cent YoY,” Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research said.

11 December 2023

Investing.com

"Surely, this is a bullish period for the Indian stock markets. BSE Sensex and Nifty have given one year returns of 11.6% and 12.7% respectively. But the returns from mid and small cap stocks have been significantly higher with BSE MidCap and BSE SmallCap indices delivering annualized returns of 34.6% and 37.7% respectively as on December 8. Over the last one month, the BSE Sensex and Nifty have returned 7.7% and 8.1% respectively. These are indications of a strong bull market,” Suman Chowdhury, Chief Economist and Head - Research, Acuité Ratings & Research, told IANS.

11 December 2023

Zeebiz

"While the liquidity conditions are already tight, the reversal of liquidity under MSF and SDF will resolve the operational issue at the end of banks and money market participants, explains Suman Chowdhury, Chief Economist and Head-Research at Acuite Ratings & Research. "An operational issue for banks and money market participants has been resolved by permitting balance adjustments to the MSF and SDF during holidays and weekends. This will help in normalising the sharp swings in system liquidity and prevent excessive volatility in call money or other short-term rates,” according to Chowdhury.

11 December 2023

Zeebiz

Acuité Research expects GDP growth to moderate to 5.5 per cent in H2FY24 on account of lower agricultural output induced by the continuing El Nino phenomenon and its impact on rural demand.

08 December 2023

Republic World

08 December 2023

Indian Express

"The RBI is expected to maintain the system liquidity at a slightly deficit level to ensure better transmission of interest rates and this has been in evidence in the month of November. With higher govt. bond redemptions scheduled in the current month and also the likelihood of higher FPI flows, the RBI may consider the deployment of tools like OMO to suck up additional liquidity from the market,” said Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research.

08 December 2023

Zee News India

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research said, "Expectedly, RBI-MPC has persisted with the pause mode on the monetary policy with the repo rate at 6.50% and the stance unchanged at "withdrawal of accommodation”. However, the intensity of hawkishness in the policy statement has clearly subsided and a balance has been brought in. The governor has also highlighted that "over-tightening” can also pose growth risks to the economy which possibly provides a signal that the policy stance may be subject to review in the subsequent MPC meetings."

07 December 2023

Business Today

"Given the stronger growth momentum, there is a possibility that RBI revises its GDP forecast for the current year by 25-30 bps from the existing figure of 6.5%,” says Suman Chowdhury, Chief Economist, and Head of Research, Acuité Ratings & Research.

07 December 2023

Money control

"Given the stronger growth momentum, there is a possibility that RBI revises its GDP forecast for the current year by 25-30 bps from the existing figure of 6.5%,” says Suman Chowdhury, Chief Economist, and Head of Research, Acuité Ratings & Research.

07 December 2023

Outlook Planet

The summit represents an important moment for international cooperation, moving countries towards a more sustainable and resilient future in the face of the complex challenge of climate change.
(Suman Chowdhury, Chief Economist and Head of Research, Acuité Ratings & Research Limited.)

06 December 2023

Mint

"There is a strong likelihood that RBI-MPC will keep the benchmark repo rate unaltered at 6.50 per cent in the upcoming meeting and thereby continue with the pause mode for the fifth consecutive policy review. It’s also unlikely that there will be any revision in the monetary policy stance of withdrawal of accommodation," said Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research.

06 December 2023

Financial Express

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research

There is a strong likelihood that RBI-MPC will keep the benchmark repo rate unaltered at 6.50 per cent in the upcoming meeting and thereby continue with the pause mode for the fifth consecutive policy review. It’s also unlikely that there will be any revision in the monetary policy stance of "withdrawal of accommodation”. We will look forward to RBI’s assessment of growth and inflation in its statement. GDP growth in the second quarter of the year has been significantly higher than market and RBI’s forecasts at 7.6 per cent YoY, translating to a robust growth of 7.7 per cent YoY in H1FY24. Given the stronger growth momentum, there is a possibility that RBI revises its GDP forecast for the current year by 25-30 bps from the existing figure of 6.50 per cent. Acuité Research has already revised its growth forecast from 6.0 per cent to 6.5 per cent after the GDP data of the second quarter; nonetheless, we expect a moderation in growth in the second half of the year given the impact of El Nino on rainfall in the current year and its consequent effect on agricultural output and rural demand.

04 December 2023

The Times of India

Abhishek Upadhyay, an economist at ICICI Securities PD, highlights the robust growth momentum and well-behaved core inflation as factors supporting the anticipated pause. Suman Chowdhury, chief economist and head of research at Acuite Ratings & Research, foresees a sustained pause with potential inflationary pressures, especially if El Nino weather events impact food inflation.

04 December 2023

Financial Express

Finally after a long period of courtship of about 10-years, one of the global bond index providers (JP Morgan) has decided to include India in its family. While India allows foreign ownership of domestic bonds in a regulated manner, this act of global listing would clearly add a new dimension to India’s appeal as a destination for foreign investment.

01 December 2023

Livemint

Suman Chowdhury, Chief Economist and Head, Research, Acuité Ratings and Research

Given the exceptional growth print in Q2FY24 and the average 7.7 per cent YoY growth in the first half of the current financial year (H1FY24), there is a rationale for a review of our 6 per cent growth forecast for the full year. Nevertheless, we acknowledge that the base factor will not be in action in the second half of the year and there are material risks of lower agricultural output and weaker rural consumption.

01 December 2023

Reuters

"I think the RBI's focus is to keep it at around 5%... They will be comfortable with it because of the volatile nature of food inflation and the kind of weather and climate risk that we are seeing," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

01 December 2023

SME Futures

In a surprising turn of events, India’s Gross Domestic Product (GDP) witnessed a significant growth of 7.6 per cent YoY during the second quarter of the fiscal year 2023-24, following the robust 7.8 per cent YoY in the first quarter. Suman Chowdhury, Chief Economist at Acuité Ratings and Research, provided insights into the key drivers behind this unexpected surge.

01 December 2023

money control

Acuité Ratings and Research’s Suman Chowdhury and ICRA’s Aditi Nayar said that an acceleration in the manufacturing sector to 13.9 percent year-on-year in Q2 of FY24 led to the stronger GDP print for the period.

30 November 2023

Republic World

30 November 2023

Financial Express

Meanwhile, Suman Chowdhury, Chief Economist and Head of Research, Acuité Ratings & Research Limited, said, "The resilience in urban demand is clearly one of the primary drivers of the current momentum in the Indian economy. Urban demand has reportedly been strong as reflected by a step up in passenger vehicle sales, online food deliveries, airline traffic and hotel occupancies which has particularly translated into a stronger than anticipated momentum in the services sector. While India didn’t win the ICC Cricket World Cup, the event surely did its bit to also push up consumption demand in the months of Oct-Nov’23 along with the regular festivities.” Nevertheless, he maintained that the rural engine is running on a slightly different track. "There are indications of a weaker rural demand due to the El Nino phenomenon, the estimated shortfall in the kharif crop and the risks to the current rabi crop,” said Suman Chowdhury.

30 November 2023

The Economic Times | CNBCTV18 

"Although we don't expect any significant moderation in the intensity of public capital expenditure, persistent headwinds on the export front, higher interest rates along with a tighter funding environment for consumer loans and weaker agricultural output due to the El Nino phenomenon can pose risks to the overall growth trajectory in the second part of FY24,” said Suman Chowdhury, Chief Economist and Head of Research, Acuité Ratings & Research."We expect 5.0-5.5 per cent growth in H2FY24 and hold on to our base forecast of 6.0 per cent for FY24," reported IANS, citing Chowdhury.

29 November 2023

The Hindu Business Line
 
Key factors such as adverse spillover from the anticipated (albeit somewhat delayed) global slowdown, dilution of pent-up demand (especially in services), and lagged impact of domestic monetary tightening, among others, are expected to moderate India’s second half (H2 FY24) GDP growth to 5.0-5.5 per cent, according to Acuite Ratings and Research.

28 November 2023

News18
 
Acuité Ratings & Research in its report expects Q2 growth at 6.5 per cent. It said there are two important takeaways from our latest macro heat map. One, the economic report card for the first half of the current fiscal has been strong supported by the high investments in public infrastructure, largely steady consumption demand particularly in the services sector and the ramp up in core industrial activity.

28 November 2023

The Hindu Business Line
 
Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research,

The ICC World Cup has surely done its bit to push up consumption demand in the months of Oct-Nov’23 along with the regular festivities. Urban demand has reportedly been strong as reflected by a step up in passenger vehicle sales, online food deliveries, airline traffic, and hotel occupancies.

28 November 2023

The Hindu Business Line
 
Key factors such as adverse spillover from the anticipated (albeit somewhat delayed) global slowdown, dilution of pent-up demand (especially in services), and lagged impact of domestic monetary tightening, among others, are expected to moderate India’s second half (H2 FY24) GDP growth to 5.0-5.5 per cent, according to Acuite Ratings and Research.

23 November 2023

Outlook India
 
Suman Chowdhury, Chief Economist and Head of Research at Acuite Ratings and Research said closure of any large disinvestment will not be possible this financial year due to political reasons. "Valuation surely will remain a contentious issue for any PSU disinvestment. Currently the market scenario is conducive with a long queue of private sector IPOs and we believe that the markets are likely to remain firm over the next few months with expectation of a reversal of FII flows,” he added.

18 November 2023

Indian Express
 
Suman Chowdhury, Chief Economist and Head, Research, Acuité Ratings & Research, said the higher capital requirements are expected to moderate the growth of such loans and address spread of any such systemic risks.

17 November 2023

News18

Suman Chowdhury, chief economist and head (research) at Acuité Ratings & Research, said that apart from a moderation in the aggregate growth of unsecured loans, the impact of the measures can be seen through the following:

16 November 2023

The Hindu Business Line
 
Stock market live updates: Suman Chowdhury, Chief Economist and Head – Research Acuité Ratings & Research, onn trade deficit data

14 November 2023

Business Today

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research noted that wholesale food inflation stood at 1.33% MoM and carry upside risks, given the continuing inflation in cereals, pulses and onions.

13 November 2023

Reuters

SUMAN CHOWDHURY, CHIEF ECONOMIST AND HEAD – RESEARCH, ACUITE RATINGS & RESEARCH

"Given the concerns on the yield in the upcoming kharif crop and the El Nino phenomenon, the downside risks to food inflation remain."

13 November 2023

The Hindu Business Line

Suman Chowdhury, Chief Economist and Head -Research, Acuité Ratings & Research "Industrial activity has seen a healthy uptick in the first half of the current fiscal with IIP growth at 6.0%YoY which is one of the highest prints for H1 if one excludes the last 2 years after Covid. While there still was some moderate base support, steady implementation of infrastructure projects has continued to boost demand for cement and steel while rainfall deficiency in the monsoon season has driven the demand for power and coal. Without the base support and risks of weaker rural demand, we expect IIP growth to moderate in the second half of the fiscal. On an overall basis, IIP growth is likely to be lower than 5.3% recorded in the previous year.”

13 November 2023

Investing.com

New Delhi, Nov 13 (IANS) Growth in industrial production to moderate in FY24, from 5.2 per cent recorded in FY23, as per Acuite Ratings and Research.Growth in India’s IIP eased to 5.8 per cent YoY in Sep23 from 10.3 per cent YoY in Aug23. The outcome was lower than market consensus of 7.0 per cent, and also marked the first negative surprise in the last four months.

13 November 2023

BQ Prime

India CPI inflation expectedly has taken a further dip, however, food inflation still continues to be almost at the same level, said Suman Chowdhury, chief economist and head of research at Acuité Ratings and Research. 

08 November 2023

Reuters

"With a reversal of capital flows next year, the RBI's intervention in the currency market should reduce," said Suman Chowdhury, chief economist at Acuite Ratings and Research.

06 November 2023

Business Standard

06 November 2023

The Hindu Business Line

Here's What Suman Chowdhury, Chief Economist & Head of Research, Acuité Ratings & Research, Said on PMI

The drop from the high level of PMI indices in Aug-Sep’23 were expected but the extent of the drop has surprised us. Given that we are in the middle of the festive season, the intensity of activity in the services sectors such as transportation and hospitality should have led to a better reading of Services PMI.

These readings may be an early indicator of a moderation in economic activity in the second half of the current fiscal due to lower agricultural output and weak rural demand. The PMI survey also reports a build-up of cost pressures particularly in the services sectors which may not allow core inflation to drop further from the current levels. We continue to stick to our original growth forecast of 6.0% for FY24.

02 November 2023

The Hindu Business Line

"While the overall economy including the core sector has seen a solid momentum in the first half of FY24 partly supported by the base factor and the significant public expenditure in infrastructure, there are signs of a growth moderation in the second half of the year. Weaker rural demand may have an impact on core and industrial activity. In the short run, the Israel – Hamas conflict may also impact specific core industries such as petro-products and fertilizers.”

30 October 2023

The Hindu Business Line

27 October 2023

The Hindu Business Line

19 October 2023

Hindu Businessline

"Expectedly, the AMEP index has risen further in the Q2 quarter end after the healthy uptick in August, reflecting the optimism on consumption demand during the festive season. Further, economic activity in the core sector has continued to be boosted by steady public investments in the infrastructure sector. With persistent challenges on the export front, higher interest rates and a tighter funding environment along with risk of weaker agricultural output due to El Nino, there is a likelihood of a moderate slowdown in growth in the second half of the year. Accordingly, we hold on to our base forecast of 6.0% GDP growth in FY24,” Suman Chowdhury said.

16 October 2023

The Hindu Business Line

16 October 2023

news18

Suman Chowdhury, chief economist and head (research) at Acuité Ratings & Research, said, "India’s wholesale inflation print still continues to be negative at -0.26 per cent in September 2023 albeit it has tightened from -4.18 per cent in June 2023, respectively. A rapid drop in the increased vegetable prices and overall benign wholesale food inflation that declined by 4.5 per cent MoM, has helped to keep the WPI sequential trajectory at -0.6 per cent MoM.” ”

16 October 2023

Business today

"There is a structural and longer-term challenge with regards to food inflation in the cereal and the pulses category. Wholesale cereal inflation stands at 7.3 per cent year-on-year in September on the back of a high 11.9 per cent YoY in September 2022. Pulses wholesale inflation has sharply climbed to 17.7 per cent YoY in September 2023 and has been near double digits since June,” noted Suman Chowdhury, Chief Economist and Head–Research, Acuité Ratings and Research.

13 October 2023

The Hindu Business Line

Stock Market Live Updates: Sectoral Watch: Positive consumer sentiments and crop expectations boost India’s auto sector growth

Auto Sales - Sept’23, with a quote by the Chief Economist and Head of Research, Mr. Suman Chowdhury. Chief Economist & Head - Research, Acuité Ratings & Research Ltd.

13 October 2023

Money Control

On the consumption side, production of durables and non-durables rose by 5.7 percent and 9 percent, respectively, which Suman Chowdhury, Chief Economist at Acuité Ratings & Research, attributed to stocking requirements during the festive season.

13 October 2023

The Telegraph Online

Suman Chowdhury, chief economist and head – research, Acuite Ratings & Research, said: "The geo-political risks in the background and the upward pressure on oil prices, apart from the food output risks, will keep the RBI’s monetary policy committee (MPC) watchful and any reversal of the monetary policy stance is likely to happen only in the next fiscal (year).”

12 October 2023

The Print | The Telegraph | Business World | Republic

Commenting on the numbers, Suman Chowdhury, chief economist at Acuite Ratings & Research, said IIP is expected to maintain such a trend for FY24 as a whole, although, the base factor will not remain as favourable in the second half of the year.

12 October 2023

Business Today

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research, forecast headline inflation to average 5.6% in FY24 and remain in the range of 4.5-5.5% in the second half of the fiscal. "Nevertheless, we believe that the geo-political risks in the background and the upward pressure on oil prices, apart from the food output risks will keep the RBI Monetary Policy Committee watchful and any reversal of the monetary policy stance is likely to happen only in the next fiscal,” he said.

12 October 2023

Business Today

Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research, forecast headline inflation to average 5.6% in FY24 and remain in the range of 4.5-5.5% in the second half of the fiscal. "Nevertheless, we believe that the geo-political risks in the background and the upward pressure on oil prices, apart from the food output risks will keep the RBI Monetary Policy Committee watchful and any reversal of the monetary policy stance is likely to happen only in the next fiscal,” he said.

09 October 2023

The Hindu Business Line

Here’s what Suman Chowdhury, Chief Economist and Head of Research, Acuite Ratings & Research, said on outlook for Indian Economy

The elevated readings of the twin PMI indices continue to indicate the steady momentum in both the manufacturing and the services sector in the first half of the current fiscal.

The expectation of strong demand during the festive season (mostly Q3) has been an important driver of increased economic activity. The strength of rural demand in particular amidst a deficient monsoon and higher food prices will be a monitorable in the second half of the year. Nevertheless, high investment activity through government capital expenditure and a gradual rise in private sector capex will facilitate a healthy GDP growth in FY24, ours being pegged at 6.0% for now..

08 October 2023

Investing.com

"In the worst case, there is also a likelihood of the conflict spreading across West Asia and involving several nations. That may lead to further supply challenges in crude oil where supply cuts by OPEC+ (Organisation of Petroleum Exporting Countries and other oil producing countries) have already led to a rise in global prices,” Suman Chowdhury, the ChiefEconomist and Head of Research, Acuite Ratings & Research Ltd told IANS.

08 October 2023

Zeebiz.com

सुमन चौधरी, मुख्य अर्थशास्त्री और अनुसंधान प्रमुख, एक्यूइट रेटिंग्स एंड रिसर्च लिमिटेड ने बताया कि सबसे बुरी स्थिति में, इस संघर्ष के पूरे पश्चिम एशिया में फैलने और इसमें कई देशों के शामिल होने की भी संभावना है. इससे कच्चे तेल (Crude Oil) की आपूर्ति में और चुनौतियां पैदा हो सकती हैं, जहां ओपेक प्‍लस (पेट्रोलियम निर्यातक देशों और अन्य तेल उत्पादक देशों का संगठन) द्वारा आपूर्ति में कटौती के कारण पहले से ही वैश्विक कीमतों में बढ़ोतरी हुई है.

06 October 2023

The Economic Times

Suman Chowdhury, Chief Economist and Head- Research, Acuité Ratings & Research

RBI MPC has persisted with its "pause” on benchmark interest rates for the fourth consecutive time in October and also retained the stance on "withdrawal of accommodation”, on expected lines..

03 October 2023

BFSI

"In our opinion, there will be no divergence of views on the rate pause decision , 6-0. But as earlier, there is likely to be one dissent on continuing the existing monetary stance, 5-1," Suman Chowdhury, Chief Economist & Head - Research, Acuite Ratings told IANS.

03 October 2023

The Hindu Business Line

Strong growth in eight core industries

The output growth of eight core industries has witnessed a strong performance in August by rising to 12.1% YoY as compared to 8.4% YoY in July 2023. This is the highest growth print in the core sector in 14 months since June 2022, albeit partly supported by a weaker base in the previous fiscal year. On a sequential basis, the eight core industries index also had a healthy rise of 2.5% MoM, which had actually dropped in July and June 2023 by 1.8% MoM and by 1.0% MoM respectively. The core sector or infrastructure output, which comprises eight sectors including coal and electricity, accounts for nearly 40 per cent of industrial output.”

30 September 2023

The Economic Times

Acuite Ratings and Research expects the sector to grow to Rs 4 lakh crore by March 2024 from around Rs 3.50 lakh at the end of March this year.

29 September 2023

Business World

Commenting on the development, Suman Chowdhury, Chief Economist, and Head- Research, Acuité Ratings & Research said, "Core sector in India has reported a strong growth in Aug-23 with the latest ECI index rising by 12.1% YoY, the highest print since Jun-22. The core sector print continues to reap the benefits of a relatively weaker base in the previous fiscal year. On a sequential basis, the index has witnessed a healthy growth of 2.5 per cent, as compared to a contraction in the previous two months."

28 September 2023

Outlook India

Suman Chowdhury, Chief Economist and Head of Research at Acuite Ratings and Research said they expect growth outcomes to moderate due to unfavourable statistical base along with several factors that play a role in pace of economic growth.

27 September 2023

Moneycontrol

"The buoyancy in crude oil prices is not going to sustain for a longer time as it is not fundamentally driven by demand but by supply cuts from Saudi and Russia. Demand is still not very strong. Though stimulus measures have been announced in China, data points are not strong,” said Suman Chowdhury, Chief Economist and Head – Research, Acuité Ratings & Research.

26 September 2023

The Economic Times
 
According to Acuite Ratings & Research, pure-play microfinance lenders in India will need to raise fresh capital in FY25 to sustain their growth momentum. Acuite projects the country's microfinance portfolio to reach Rs 4 lakh crore by March 2024. The non-banking finance company-microfinance institutions (NBFC-MFIs) experienced a compounded annual growth rate of 24.6% in FY21-23 and increased their market share to 39.7%.

26 September 2023

Zee Business
 
Suman Chowdhury, Chief Economist & Head - Research, Acuite Ratings told IANS that RBI will continue to hold on to the pause button on the interest rates in the current scenario.

19 September 2023

The Times of India
 
"The optimism on the current account deficit (CAD) and the balance of payments have started to decline, particularly after the unexpected rise in crude oil prices since August 23. Going ahead, merchandise trade deficits are likely to remain elevated and will lead to higher CAD in Q2 and Q3 unless there is a strong growth in services exports,” said Suman Chowdhury, chief economist, Acuite Ratings.

14 September 2023

The Hindu
 
Economists expect wholesale inflation to rebound from the deflationary trend in coming months, which would also feed into pressures on inflation in consumer prices, which remained elevated at 6.83% in August. "Prices of crude oil, cereals and pulses are rising and industrial as well as consumer demand is holding up. This would keep CPI inflation in the range of 5.5%-6.5% over the next two quarters and not allow it to come down sharply,” said Suman Chowdhury, chief economist and head-research at Acuité Ratings & Research.

14 September 2023

The Hindu Business Line

13 September 2023

The Hindu Business Line
 
With the moderation in the vegetable prices, the headline CPI inflation has moderated to 6.83% in Aug-23 compared to 7.44% in July:

Suman Chowdhury, Chief Economist, and Head- Research, Acuité Ratings & Research "With the moderation in the vegetable prices, the headline CPI inflation has moderated to 6.83% in Aug-23 compared to 7.44% in July. This is a relief to the central bank and also reflects the steps being taken by the Government to cool down food prices.

07 September 2023

Outlook India
 
"The current increase in sugar prices is not significant enough to move the needle on the overall CPI inflation on its own. However, the collective impact of higher prices across several categories such as cereals, pulses, milk and sugar can hold food inflation firm for a longer period despite the moderation in vegetable prices,” said Suman Chowdhury, Chief Economist, Acuite’ Ratings & Research.

07 September 2023

The Hindu Business Line

31 August 2023

CNBC TV18

29 August 2023

Business Outlook

27 August 2023

Investing.com | Bhaskar Live | SME Times | Suryaa.com | News Room Odisha | Prokerala | Hi India | The Hawk | The News Men | Greater Kashmir | Vishva Times | Can India | Always First | Sakshi Post | Weekly Voice | Social News XYZ | Siasat | AP7AM
 
(RBI) believes that the current surge in inflation, driven by food prices, is transient and it should moderate by the third quarter with the arrival of the kharif crop.However, with the inflation risk persisting, the RBI will continue to maintain a hawkish stance in the near future, Suman Chowdhury, Chief Economist and Head of Research, Acuite Ratings & Research, told IANS in an interview.

23 August 2023

Business Today
 
According to Suman Chowdhury, Chief Economist and Head - Research, Acuité Ratings & Research GDP growth in the first quarter is set to be strong at around 7.5 per cent YoY, partly driven by the favourable base but the growth print is likely to be 150-200 bps lower in the subsequent quarters. "We hold to our forecast of 6 per cent for FY24 for now,” he said.

23 August 2023

Money Control
 
"Uptick in prices due to the Australia issue is a short-term supply disruption-driven price surge but we are not expecting much of an increase going forward. Once the issue is resolved, prices will tend to moderate,” said Suman Chowdhury, chief economist and head of research, Acuite Ratings & Research.

22 August 2023

The Hindu BusinessLine
 
Acuité’s AMEP Index signals Indian economic slowdown amid global uncertainty

"Acuité Macroeconomic Performance Index (AMEP index) provides some signals of a slowdown in the Indian economy from the month of July. While a sequential drop in the index can be largely attributed to the seasonality factor in Q2 of the fiscal, the uptick YoY has turned moderate. The slowdown in China and the overall global uncertainty have started to impact the growth momentum despite the overall domestic demand resilience. GDP growth in the first quarter (Q1FY24) is set to be strong at around 7.5% YoY, partly driven by the favourable base but the growth print is likely to be 150-200 bps lower in the subsequent quarters. We hold to our forecast of 6.0% for FY24 for now.”

- Suman Chowdhury, Chief Economist & Head - Research, Acuité Ratings & Research Ltd

21 August 2023

www.businesstoday.in/news-reel/video/how-has-india-helped-to-set-agenda-as-g20-president-394910-2023-08-21

19 August 2023

News18
 
According to the latest official data, India’s retail inflation jumped to 15-month high of 7.44 per cent in July on account of costlier food items. In its report, Acuité Ratings & Research said, "Although tomato prices have begun to correct, CPI inflation in Aug-23 may continue to remain above 7 per cent.

18 August 2023

Outlook India
 
Suman Chowdhury, chief economist and head of research at Acuite Ratings, said that the supply chain issues have not entirely gone away. "There are still concerns due to the erratic monsoon pattern and high prices of fodder.” He opined that dairy inflation could remain in the 7-8 per cent range and also increase from the current levels if companies hike milk prices.

16 August 2023

The Times of India | The Economic Tines | BFSI | Business Journal 
 
"Experience during demonetisation shows that cash that has been returned to a bank account because of currency withdrawal will soon be withdrawn,” said a senior banker with a public sector bank. According to Suman Chowdhury, chief economist at Acuite Ratings, liquidity will be tighter than expected due to the iCRR, and this may lead to an increase in short-term rates.

14 August 2023

The Hindu Business Line 
 
Chief Economist at Acuite on IIP growth

IIP growth print in June-23 has disappointed at 3.7% YoY. Clearly, the manufacturing sector has not been able to sustain the growth trend that had been seen in the first two months of the last quarter. The manufacturing output grew only by 3.1% YoY and actually saw a sequential contraction of almost 1.0%. While mining and power have seen better annualised growth rates compared to Apr-May, their weightage in the overall IIP is only 22%. Nevertheless, on a quarterly basis, the IIP growth in Q1FY24 is 4.5% which is 1% higher than the average of the first quarter IIP growth in the last ten years excluding the last 3 yrs which had some anomaly due to Covid.

14 August 2023

Aaj Tak 
 
कब तक कम होगी महंंगाई?

बिजनेस टुडे के अनुसार, Acuité Ratings & Research के रिसर्च प्रमुख सुमन कुमार चौधरी ने कहा कि हमारी राय में सब्जियों की खेती के छोटे चक्र और सरकार की ओर से कीमतों को कम करने के लिए कुछ कदमों के साथ सब्जियों के भाव का इतना उच्च स्तर नवंबर-दिसंबर 2023 से आगे कायम रहने की संभावना नहीं है. इसलिए, मुद्रास्फीति दो से तीन महीनों के बाद कम होने की संभावना है.

10 August 2023

To read the full article, click on the below link:
https://www.cnbctv18.com/views/monetary-policy-why-it-is-important-to-decipher-rbis-liquidity-strategy-17487061.htm

11 August 2023

Bizz Buzz

Given such uncertainty on the inflation front, the likelihood of an extended pause on interest rates has been reinforced, says Suman Chowdhury, Chief Economist, and Head- Research, Acuite Ratings & Research.

10 August 2023

The Economic Times

Furthermore, Suman Chowdhury, Chief Economist and Head- Research, Acuité Ratings & Research, attributed RBI's hawkish stance to the unexpected announcement of an incremental CRR (ICRR).

10 August 2023

Zeebiz

Suman Chowdhury, Chief Economist, Head, Research, Acuité Ratings & Research

"The governor sounded hawkish, highlighting that headline inflation needs to subside sustainably below 4 per cent and any surge in the inflation print if continued for a longer period, may necessitate fresh action. The hawkish stance is also reinforced by the unexpected announcement of an incremental CRR (ICRR) of 10 per cent on the incremental NDTL over the last 3 months, which will help in absorbing a large part of the excess liquidity created through the return of the Rs 2,000 notes and the large dividend to the government from RBI. Nevertheless, it has been stated that the need for the ICRR will be reviewed next month and may be done away with depending on the credit requirements during the festive season.

MPC has again revised its average inflation forecast to 5.4 per cent in FY24 from 5.1 per cent earlier. Given such uncertainty on the inflation front, the likelihood of an extended pause on interest rates has been reinforced. In our opinion, any possible rate cut may not materialise before the last quarter of FY24. The liquidity will be slightly tighter than expected in the near term due to the ICRR imposition, and this may lead to some increase in short-term rates. Another encouraging development is the decision of the bank to come out with new steps to facilitate better access of funds to the infrastructure NBFCs (NBFC-IDFs) and the announcement of an open architecture for access to credit in India in the lines of ONDC."

10 August 2023

Investing.com | Hi India | Prokerala | New Room Odisha | Weekly Voice | Sakshi Post | Always First | Insight Online News | Social News XYZ | The News Men | Maeeshat

Given such uncertainty on the inflation front, the likelihood of an extended pause on interest rates has been reinforced, says Suman Chowdhury, Chief Economist, and Head- Research, Acuite Ratings & Research.

"In our opinion, any possible rate cut may not materialize before the last quarter of FY24. The liquidity will be slightly tighter than expected in the near term due to the ICRR imposition and this may lead to some increase in short-term rates," Chowdhury said.

07 August 2023

As per Mr. Chowdhury, India’s low employment and per capita income issues can’t be solved overnight.
To read the full article, click on the below link:

https://www.indiaweekly.biz/exclusive-indias-low-employment-per-capita-income-problems-cant-be-solved-overnight-says-acuite-ratings-chief-economist/

05 August 2023

Financial Express

India’s total forex reserves have reclaimed USD 600 bn mark (as on Jul 14, 2023) after a gap of almost thirteen months. The sequential increase of USD 31 bn in forex reserves in FY24 so far appears impressive. Going by the current trend, the reserves can scale a new record high of USD 650 bn before the end of FY24.

05 August 2023

Zeebiz | The Freedom Press | Odisha TV | Prokerala | Canindia | Always First | Social News XYZ

Suman Chowdhury, Chief Economist and Head of Research, Acuite Ratings & Research in a report on the Purchasing Managers' Index (PMI) for July said as per the respondents' feedback there has been a resumption of rise in input prices and this could gain further strength if food and oil prices are to rise further in the next few months.

01 August 2023

India Today

"They are not going to be very decisive in cutting rates and that is why we believe this pause ... may remain for a longer period unless there are clear signs of a slight weakness in growth or core inflation coming down," said Suman Chowdhuri, chief economist at Acuite Ratings and Research, told the news agency.

01 August 2023

Reuters | Samachar Central | Republic World | News18 | Samachar Central | The Local Report

"They are not going to be very decisive in cutting rates and that is why we believe this pause ... may remain for a longer period unless there are clear signs of a slight weakness in growth or core inflation coming down," said Suman Chowdhuri, chief economist at Acuite Ratings and Research.

31 July 2023

Outlook India

Suman Chowdhury, chief economist and head of research at Acuite Ratings, says that one of the key reasons behind it has been inconsistent growth of Indian economy in the last few years which led to low confidence in firms to expand capacity. "Even before the pandemic started, the pace of growth had slowed down. The pandemic shock as well dealt a blow to the economy. The focus has been on recovering from the dip seen in growth.”

31 July 2023

Investing.com | SME Times | Weekly Voice | The Freedom Press | Prokerala | News Room Odisha | Suryaa | Hi India | Social News XYZ | Maeeshat | The Siasat Daily | Alwaysfirst

"The August meeting of the MPC will be the third successive one since April 2023 when the benchmark interest rate will be on hold at 6.5 per cent,” Suman Chowdhury, Chief Economist and Head -- Research, Acuite Ratings & Research, told IANS.

31 July 2023

Business World

Suman Chowdhury, Chief Economist, and Head- Research, Acuité Ratings & Research commented on the core sector growth. ""The momentum in the core sector continued to be strong as indicated by the latest ECI index growth at 8.2 per cent YoY in Jun-23. The core sector print will continue to reap the benefits of a relatively weaker base in the previous fiscal year. In Q1FY24, the sector has seen a healthy growth of 5.8 per cent YoY. Nevertheless, on a sequential basis, the index has contracted slightly by 0.9 per cent which is partly a seasonal factor due to the impact of the monsoons on mining activities and power demand. The current growth engines of the core sector are the steel and cement production which has grown at 21.9 per cent and 9.4 per cent in Jun-23 on an annualised basis. The output in these industries have also risen on a sequential basis by 1.2 per cent and 1.7 per cent respectively, reflecting the strength of domestic demand from the infrastructure sector. The other segments in the core sector such as coal, fertilisers and power had a relatively weaker performance which was largely due to the seasonal factor. As in the earlier months, the output in the oil and gas sector continues to pull down the overall core index.”

He added, "The healthy print in the core sector is likely to translate into a steady IIP growth figure for June-23 at around 5 per cent and is a reflection of an improved industrial activity so far in the current fiscal.”

30 July 2023

Investing.com | Daily Hunt | International Business Times | The Freedom Press | The Shillong Times | Hi India | Prokerala | Vishva Times | News Room Odisha | Can India | Greater Kashmir

Over the next few months, the chances of the Indian equity market undergoing a correction are high, said a senior official of credit rating agency Acuite Ratings & Research.

24 July 2023

The Economic Times | ET CFO.com | BFSI | Financial Express | Business Standard | Indian Express | Firstpost

"Manufacturing needs to see strong growth and that is possible only when we … iron out the issues that are preventing fresh investments in the sector,” said Suman Chowdhury, chief economist at Acuite Ratings and Research.

19 July 2023

Financial Express
 
There was an unmistakable conviction in the way Prime Minister Narendra Modi presented India’s growth story during his visit to the US. As he highlighted India’s economic transformation over the years, drawing investors to join the country’s development journey, there were mixed reactions ranging from open criticism, and shades of doubt to belief and excitement about the seismic shifts that are yielding visible outcomes.

18 July 2023

BQ Prime
 
The rise with regards to electronic goods is primarily on account of higher exports of mobile phones from India, given the PLI incentives that are being provided, said Suman Chowdhury, chief economist and head of research at Acuité Ratings & Research.

17 July 2023

Money Control
 
"The global economy is still in the midst of a slowdown, and China’s growth has been lower than expected. Despite the supply cuts, we don’t see a reason for prices to rise in a sustainable way. Moreover, the US is one of the major producers, and their production is quite steady. US production may increase further if prices increase. These are reasons why prices increased to over $80 per barrel in recent weeks but immediately corrected and are now around $79," said Suman Chowdhury, Chief Economist & Head of Research, Acuite Ratings & Research.

16 July 2023

Bhaskar Live | hi India | Prokerala | Can India | The Freedom Press | Weekly Voice | Social News XYZ
 
"We believe that the RBI will continue with its pause stance for an extended period possibly till December to watch for such risks while also assessing the impact of the 250 bps rate hike on the economy,” said Suman Chowdhury, Chief Economist and Head-Research, Acuite Ratings & Research.

12 July 2023

Business World
 
Suman Chowdhury, Chief Economist at Acuité Ratings & Research said that the government have been taking steps from time to time to cool down the prices of cereals, edible oil and pulses and similar steps are likely to be taken going forward.

07 July 2023

Outlook India
 
Similarly, Acuite Ratings mentioned in its report that for FY23, the CAD was exactly in line with the expectation of 2 per cent of the GDP. The report mentioned that going forward, there could be further compression in it towards 1.4 per cent of the GDP in FY24, led by lower commodity prices in FY24 over FY23.The increased Russian imports of crude would further act as an additional support.

01 July 2023

Outlook India
 
While announcing the deal in April 2022, HDFC had said in a statement that the transaction would create a large balance sheet and net-worth which would allow "greater flow of credit into the economy”. Suman Chowdhury, Chief Economist and Head of Research at Acuité Ratings & Research, claims that the merger will strengthen HDFC’s position in the market. "The funding position of the whole group would improve as banks have an inherent advantage when it comes to raising funds compared to NBFCs. With a large balance sheet, the merger will surely boost the standing of HDFC Bank in the sector,” Chowdhury says.

26 June 2023

Outlook India
 
Suman Chowdhury, Chief Economist and Head of Research at Acuité Ratings & Research, says that working capital requirement of enterprises increased in the last one year due to recovery in consumer demand. "Along with this, another reason for increase in working capital requirement was a rise in the prices of commodities due to inflation.”

23 June 2023

Reuters | Economic Times | Business Standard | The Indian Express | Livemint 
 
"Services exports (are) doing well, but in manufacturing, there is a slowdown. Petroleum, textiles, and two-wheeler exports have come down, and it's very unlikely they will reverse that in a big way," said Suman Chowdhury, chief economist at Acuité Ratings.

20 June 2023

Outlook India
 
"Better tax collections in both direct and indirect segment may have diverted the government’s attention. That could be one of the reasons that divestment is not a theme attracting immediate attention of the government” Suman Chowdhury, chief economist and head of research, Acuite Ratings & Research, tells Outlook Business.

19 June 2023

Outlook India
 
Commenting on the impact on rural economy, Suman Chowdhury, Chief Economist and Head of Research at Acuite Ratings and Research, says, "Owing to El Nino, this year we are staring at a possibility of an unfavorable monsoon which is a downside risk to the recovery we are witnessing in rural India. Monsoon has been quite good in last two years.”

19 June 2023

Money Control
 
"There is a possibility of crude oil prices to go up due to cuts announced by Saudi Arabia and a slight uptick in economic activity,” said Suman Chowdhury, executive director of Acuite Ratings. "At this point, it does not look like we’ll see a very substantial upward movement but up to $80 per barrel is a possibility with the July Saudi cuts.”

15 June 2023

The Hindu Business Line
 
Suman Chowdhury, Chief Economist, and Head – Research, Acuité Ratings & Research, said, "In our opinion, the soft wholesale inflation trajectory is already factored in by the MPC in its latest macroeconomic assessment. "The pause in the benchmark interest rates by RBI MPC is likely to extend for another 2-3 quarters although the stance can change to "neutral” if the inflation print continues to be benign for another few months,” he said.

14 June 2023

BQ Prime
 
The RBI will continue with its pause stance for an extended period, possibly till December 2023, to watch for risks from El Nino and the monsoon performance in the current year while also assessing the impact of the 250 basis point rate hike on the economy, said. Suman Chowdhury, chief economist at Acuité Ratings & Research.

12 June 2023

BQ Prime
 
Headline inflation may touch 4% or go slightly below that for a brief period over the next few months if there are no risks from the monsoon or on the geopolitical front, said Suman Chowdhury, chief economist at Acuité Ratings & Research. However, it will be difficult to hold the figure below 4% for an extended period, given the healthy growth momentum in the domestic economy. "We have stuck to an inflation forecast of 5.3% in FY24 despite the current softness in the CPI trajectory."

08 June 2023

Zee News India | Bharat Times | The News Ocean | India07 | eFLIP
 
For the current year, Acuite Ratings continue to forecast a growth of 6.0 per cent given the expected impact of the global uncertainties and the lagged impact of the interest rate hikes in the domestic economy although RBI has pegged it at a more optimistic 6.5 per cent, Chowdhury said.

07 June 2023

Money Control
 
"Some LNG (liquefied natural gas) terminals in Europe have been shut down and gas pipeline in Turkey also closed which has led to supply-side issues; and therefore the price rise,” said Suman Chowdhury, Chief Economist and Head of Research, Acuite Ratings & Research.

06 June 2023

Business Today 
 
"The upcoming MPC meeting in early June is expected to focus on two important aspects that have emerged in the last few weeks - a sustained moderation of the headline retail inflation and a better than expected GDP growth print in Q4FY23," said Suman Chowdhury, Chief Economist and Head - Research, Acuite Ratings and Research on RBI's Monetary Policy Committee meet

05 June 2023

The Economic Times
 
A May 2023 Acuite research study (shorturl.at/qLOPZ) analysed the impact of the pandemic specifically on animal protein inflation. These food items constitute a significant 10.65% of the overall consumption basket - egg (0.43%), meat (2.35%), fish (1.26%) and milk (6.61%).

02 June 2023

Economic Times | The Siasat Daily
 
"The upcoming MPC meeting in early June is expected to focus on two important aspects that have emerged in the last few weeks — a sustained moderation of the headline retail inflation and a better than expected GDP growth print in Q4FY23,” Suman Chowdhury, Chief Economist and Head – Research, Acuite Ratings and Research told IANS.

31 May 2023

BQ Prime
 
Acuite Ratings & Research predicts that India’s economic growth for FY23 will be around 7.0%. Looking aheConcern remains on the demand side amid modest private consumption growth in the fourth quarter, said Suman Chowdhury, chief economist and head of research at Acuite Ratings. 

29 May 2023

Current Affairs 2023
 
Acuite Ratings & Research predicts that India’s economic growth for FY23 will be around 7.0%. Looking ahead to FY24, they consider factors such as the impact of higher interest rates on urban demand, stability of the monsoon, and absence of base factors. For now, Acuite Ratings & Research maintains a GDP growth forecast of 6% for FY24, without factoring in additional risks from monsoons and external factors.

17 May 2023

BFSI | Business Standard | Investing.com | Investment Guru India | SME Times | Weekly Voice | Can India | Daiji World | Quick Telecast | Social News XYZ | Shafaqna | Sakshi Post | Nachedeu 
 
In a report, Acuite Ratings said India's current account deficit for FY24 is expected to narrow to $53 billion in FY24 bn (1.4 per cent of gross domestic product-GDP) -- compared to a level of about 2 per cent of GDP in FY23.

09 May 2023

IANS | Investing.com | Bhaskar Live | Hi India | Nagaland Post | Prokerala | Can India | News Room Odisha | Forever News | Daijiworld | Social News XYZ

So, what will Russia do with the Indian Rupees? Some of the oil imports from Russia are being settled in some Middle East currencies, Suman Chowdhury Chief Economist and Head-Research, Acuite Ratings & Research told IANS.

03 May 2023

The Indian Express | UNI News | Hindi BQ Prime

On January 19, 2023, rating agency Acuite downgraded the company’s rating on Rs 5,600 crore bank loans from A- to BBB in the wake of its deteriorating financial position. "The rating downgrade factors the consistent losses incurred in the past three years which has also continued in the first half of FY23 leading to higher dependence on external borrowings and group support,” the rating firm said. According to the IPO prospectus, Central Bank had an exposure of Rs 424 crore and Bank of Baroda Rs 85.79 crore as of March 2020.

02 May 2023

The Print

Go First has 56 billion rupees ($685 million) in rated Indian bank debt, according to a January report by Acuite Ratings. Central Bank of India and Bank of Baroda have the largest share.

01 May 2023

Financial Express

"CPI data shows that month-on-month milk prices have been rising after December 2020,” said Suman Chowdhury, chief economist and head-research, Acuité Ratings & Research, adding that the domestic supply cannot be increased within a short period and hence, milk inflation may remain firm at high single digit in the near to medium term.

29 April 2023

Financial Express

Cumulatively, the growth in core sector output stands at 7.6% for FY23 which is fairly healthy considering the dilution of the base factor after the pandemic,” said Suman Chowdhury, Chief Economist and Head-Research, Acuité Ratings & Research. "With the weakening global and domestic demand, Ind-Ra believes that the growth in infrastructure industries would be under pressure in the ongoing fiscal year. As a result, the agency expects the core sector annual growth in FY24 at around 5%,” said India Ratings economists Paras Jasrai and Sunil K Sinha.

26 April 2023

Times of India | Business Standard | Times on News | Bhaskar Live | Investing.com | The Newsmen | The Daily Hunt | Can India | The Freedom Press | New Kerala | Orissa Post | Prokerala | Greater Kashmir | Telangana Tribune | Nagaland Post | News Room Odisha | The Hans India | Maeeshat | Jantaserishta | Investment Guru India | Bizz Buzz | DT Next | hi INDiA | Sarkaritel | Quick Telecast | Social News XYZ

"Looking ahead, challenges for domestic growth are expected to intensify in FY24 owing to — 1) a Slowdown in global growth, with the added dimension of tightness in credit conditions post the banking sector turmoil 2) Climate risks especially a warmer summer along with El Nino risks 3) Private capex remaining uneven and sluggish and 4) downside in urban leveraged consumption owing to pass-through of higher borrowing costs,” Acuite said. .

21 April 2023

Money control

India’s inflation dynamic has turned favourable due to lower commodity costs, statistical base effects and government interventions, Acuite Ratings has said, adding it expects the Reserve Bank of India (RBI) to maintain a prolonged pause on rates and gradually scale back liquidity to push monetary policy transmission.

20 April 2023

The Economic Times | News Next

"While the overall GDP growth for FY23 is estimated to be close to 7.0%, that in Q4FY23 is estimated to be around 4.0%-4.5%. Notwithstanding the heightened global risks and the impact of increased interest rates, we believe that India can post a 6.0% growth print in FY24 on the back of a buoyancy in the services sector, moderation in inflation and the consistency in public sector capital expenditure,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings. Additionally, power generation has dipped by 3.1% YoY in March 2023 which can be attributed to the lower residential demand amidst relatively moderate weather in the previous month as compared to the heat wave experienced in corresponding period of previous year. .

17 April 2023

SME Futures

"The collapse of a few regional banks in the US and the merger of Credit Suisse with UBS have weakened investor sentiments further, particularly as SVB was largely into the funding of start-ups. With the support received on deposit insurance and an orderly takeover by another bank, the start-up ecosystem is unlikely to incur any immediate losses,” explains Chowdhury from Acuité Ratings and Research.   .

13 April 2023

Banking Frontiers

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research: RBI’s pause on the interest rates has been primarily induced by the turbulence in the global banking sector brought about by the failures of a few regional banks in the US and the potential contagion risks in other parts of the world. In other words, it is a "wait and watch” policy being adopted for now not only on the global environment but also on the domestic inflation print. What has also helped in taking a pause decision, for now, is the moderation in the hawkish stance from Fed, weakness in the US dollar and the recent improvement in India’s current account position. In our opinion, the likelihood of a continued pause and a pivot to lower rates in the current year is still uncertain. The pause in the rate cycle, however, will be positive for the bond markets and government borrowings. Despite a higher issuance of G-secs in H1FY24, we don’t expect the 10 yearr G-sec yields to move appreciably above the current levels. RBI will also ensure that the liquidity in the system remains either neutral or slightly in surplus.

13 April 2023

The Economic Times

"If there are no surprises on the weather and the oil front, one can expect the headline inflation to moderate further and settle in the band of 5.0%-5.5% over the next few months. Such a trend is likely to support the continuation of the pause although a pivot on rates is still some distance away,” said Suman Chowdhury, chief analytical officer at Acuite Ratings & Research.

13 April 2023

News18

Suman Chowdhury, chief analytical officer of Acuité Ratings & Research, said, "If there are no surprises on the weather and the oil front, one can expect the headline inflation to moderate further and settle in the band of 5-5.5 per cent over the next few months. Such a trend is likely to support the continuation of the pause although a pivot on rates is still some distance away."

13 April 2023

Business Journal 

"If there are no surprises on the climate and the oil entrance, one can anticipate the headline inflation to reasonable additional and settle within the band of 5.0%-5.5% over the following few months. Such a development is prone to assist the continuation of the pause though a pivot on rates continues to be a long way away,” stated Suman Chowdhury, chief analytical officer at Acuite Ratings & Research.

07 April 2023

The Print

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, said the pause has been primarily induced by the turbulence in the global banking sector brought about by the failures of a few regional banks in the US and the potential contagion risks in other parts of the world.

07 April 2023

Hindi Moneycontrol

06 April 2023

CNBCTV18

The pause in the rate cycle, however, will be positive for the bond markets and government borrowings. Despite a higher issuance of Government Securities (gsecs) in H1FY24, we don’t expect the 10 yr g-sec yields to move appreciably above the current levels. RBI will also ensure that the liquidity in the system remains either neutral or slightly in surplus. —The author, Suman Chowdhury, is Chief Analytical Officer, Acuité Ratings

06 April 2023

CNBCTV18

RBI has not made any significant modifications to its existing forecasts on growth (6.5%) and retail inflation (5.2%) for FY24. In our opinion, the likelihood of a continued pause and a pivot to lower rates in the current year is still uncertain" says Mr. Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.

06 April 2023

Investing.com

According to Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research, the MPC's decision is primarily induced by the turbulence in the global banking sector brought about by the failures of a few regional banks in the US and the potential contagion risks in other parts of the world.

03 April 2023

Moneycontrol

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, explained that smaller cement companies are likely to face higher headwinds due to a lack of scale and cost efficiencies which will bring down their EBITDA per tonne to a larger extent.

03 April 2023

Business Standard

In a research report, Acuite Ratings said India's current account deficit narrowed significantly to $18.2 billion (2.2 per cent of gross domestic product-GDP) in Q3 FY23 from $30.9 billion in Q2 FY23 (3.7 per cent of GDP).

01 April 2023

Financial Express

Retail securitisation volumes had fell sharply from Rs 2 trillion in FY20 to Rs 90,000 crore in FY21 due to the lack of activity on account of Covid-19 pandemic. During FY22, the volumes stood at Rs 1.3 trillion, Suman Chowdhury, chief analytical officer at Acuite Ratings, said.

21 March 2023

Financial Express

The Indian banking sector is adequately capitalised, said Suman Chowdhury, Director & Chief Analytical Officer, Acuité Ratings & Research. With increased credit growth and an expected pickup in private sector capex, the lending opportunities are set to increase. Given increased competition for deposits, however, the net margins may be under pressure, he added. On the other hand, Sunil Damania is bearish on the banking sector, stating that while Credit Suisse may not have an impact, the rising interest rates will harm banks’ NIM and increase NPA levels, affecting their quarterly earnings. As a result, he predicts the sector will underperform.

13 March 2023

Financial Express | BQ Prime

"The core inflation continues to remain above 6% with a steady increase in the prices of services. Further, the average headline inflation figure for Q4 FY23, in all likelihood, is set to be higher than the RBI forecast at around 6.2–6.4%," said Suman Chowdhury, chief analytical officer at Acuité Ratings & Research.

13 March 2023

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According to Acuite, the government’s strong capex disbursals, recovery in auto sales, and improving capacity utilization at a macro level ought to have played a supportive role.

04 March 2023

Business Standard | IANS Live | Bhaskar Live | Vishva Times | Hindi Vishva Times  | New Kerala | Forevernews | The Freedom Press | Can India | Orissa Post | News Room Odisha | TripuraIndia | Tripura Times | Daily World | City Air News | Maeeshat | The Newsmen | Quick Telecast | Daiji World | hi INDiA | Social News XYZ | Absolute India News | Forever News

According to Acuite Ratings & Research’s Chief Analytical Officer Suman Chowdhury, India’s economic growth in FY23 will be close to 7.0 per cent.

"Going ahead into the next fiscal however, the factors that will play an important role are the impact of higher interest rates on urban demand, the stability of the monsoon, and the absence of the base factor; we have kept our GDP growth forecast for FY24 at 6 per cent for now without factoring in any additional risks from monsoon and external factors,” Chowdhury said.

04 March 2023

Business Standard | IANS Live | Investing.com | CanIndia | hi INDiA  | Prokerala | New Kerala | Orissa Post | News Room Odisha | The Freedom Press | Social News XYZ | Daily World | Daijiworld | SME Times | Vishva Times | The NewsMen | News4 social | Small News | Shafaqna | Quick Telecast

 According to Acuite Ratings, over the last three months, inflation has begun to descend from peak levels across most economies in the world. The upshot from this development has been a step down in monetary policy aggression by most central banks despite the persistence of monetary tightening.

01 March 2023

The Economic Times

Overall, the Q3 GDP print has been largely in line with the trend that we have observed in our proprietary Acuite Macro Economic Performance (AMEP) index which has held on to the same levels since Nov-22 after the festive activity. While there is a lack of momentum in rural demand and weakness in exports, it is partly offset by the steady demand for goods and services in the urban economy. With some support from the base factor, this will help the economy to notch up a print close to 7% in FY23. 

01 March 2023

The Financial Express

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research said that going ahead into the next fiscal, the factors that will play an important role are the impact of higher interest rates on urban demand, the stability of the monsoon, and the absence of the base factor. The agency has kept its GDP growth forecast for FY24 at 6% for now without factoring in any additional risks from monsoon and external factors and at about 7% for FY23. 

23 February 2023

The Hindu Businessline

"While we await the Q3 FY23 GDP figures, the index trajectory till January 23 indicates that the momentum in the domestic economy is adequate to notch a growth print close to 7 per cent in FY23 with some base factor support,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research

28 February 2023

Money Control | Business Breaking News

28 February 2023

Bhaskar Live | investing.com | New Kerala | Prokerala | Can India | Forever News | The Freedom Press | Odisha TV | Newsroom Odisha | English Madhyamam | Maeeshat | NetIndia23 | WebIndia 123 | Windowtonews | Socialnews XYZ | hi INDia | SME Times | Ummid | The Siasat Daily

According to Acuite Ratings & Research’s Chief Analytical Officer Suman Chowdhury, while there is a lack of momentum in rural demand and weakness in exports, it is partly offset by the steady demand for goods and services in the urban economy. 

28 February 2023

The Week | MSN| Ummid| Devdiscourse

"Going ahead into the next fiscal however, the factors that will play an important role are the impact of higher interest rates on urban demand, the stability of the monsoon, and the absence of the base factor; we have kept our GDP growth forecast for FY24 at 6 per cent for now without factoring in any additional risks from monsoon and external factors," Chowdhury said. 

23 February 2023

Livemint
 
A protracted hawkish stance by the Federal Reserve could potentially lead to the Reserve Bank of India (RBI) also keeping interest rates high. According to Acuité Ratings & Research, RBI is likely to continue with monetary tightening due to the stubbornly high levels of core inflation. As a result, there could be another 25-basis-point hike in April 2023, and RBI may adopt a data-dependent approach to its stance.

23 February 2023

Exim India
 
India’s gross domestic product (GDP) growth is estimated in FY23 at 7 per cent, according to credit rating agency Acuite Ratings and Research. It also anticipates the economic growth trajectory in FY24 to slip to 6 per cent, which would still make India one of the highest growth economies in the world. The Indian economy has managed to withstand the headwinds rather well over the last several months amidst a tough global environment. Domestic growth impulses have gained strength, as urban consumption continues to push demand for both goods and services with derivative support accruing from the government capex cycle which has got a further boost from the Union Budget 2023. Private investments remain somewhat confined, although the higher credit growth reflects the start of a trickle, it said, as per a report.

22 February 2023

IANS  | Business Standard | Business Insider | Bhaskar Live | Orissa Post | Newsroom Odisha | Sarkaritel | hi INDiA | Can India | Shafqna | HT Syndication | The Freedom Press | Dainik Savera Times | News Kerala | Daily World | Bharat Times | Socialnews XYZ
 
In a report, Acuite Ratings expects the RBI to persist with monetary tightening to guard against generalisation of core inflation pressures into a wage-price spiral.

"After a hike of 25 bps in Apr-23, MPC (Monetary Policy Committee) could opt for a pause for impact assessment. The stance may change to 'neutral' only after core inflation witnesses a sustained decline to below 5 per cent," Acuite Ratings said.

20 February 2023

Business Standard | Investing | Investment Guru India | Prokerala | New Room Odisha | Can India | Vishva Times | Apeksha Sandesh | Meeshat | Shafaqna | Dajjiworld | Socialnews XYZ | Quick Telecast | Small News

"As per Global Trade Research Initiative Yarns, Dyes, and Gems & Jewellery could see negative export growth in Feb-Mar 2023 (Turkey accounted for 2.2 per cent share in India's export basket in CY22)," Acuite Ratings said

20 February 2023

The Economic Times | IANS Live | Business Standard | Business Journal | Investing | Bhaskar Live | SME Times | New Kerala  Prokerala | Orissa Post | News Room Odisha | Nagaland Post | Can India | Forever News | Socialnews XYZ | The Siasat Daily | Bizzbuzz | The Newsmen | Window To News | Maeeshat | HT Syndication | Quick Telecast | News Next | Apeksha Sandesh | The Freedom Press | TechiLive | Shafaqna | Sarkaritel | City Air News

"Domestic growth impulses have gained strength, as urban consumption continues to push demand for both goods and services with derivative support accruing from the government capex cycle which has got a further boost from the Union Budget 2023," Acuite Ratings said.

15 February 2023

Livemint | Business Journal

While wholesale core inflation has dipped further, positive sequential print in manufacturing reveals that producers will attempt to pass on cost pressures wherever feasible, said Suman Chowdhury, chief analytics officer, Acuité Ratings and Research. The MPC is expected to take into account headline and core retail inflation to decide on a rate hike in its next meeting, Chowdhury said there is a strong likelihood of a further rate hike in April unless we witness a significant drop in CPI inflation.

14 February 2023

BQ Prime

14 February 2023

Financial Express | MSN

14 February 2023

News18 | Bharat Times | PrimeTimes | Online Wiki

13 February 2023

The BQ Prime

09 February 2023

IANS Live | Times Now | SME Times | Prokerala | The Newsmen | Social News XYZ | CanIndia | Dailyworld

09 February 2023

The Telegraph

09 February 2023

The Economic Times

09 February 2023

Zee News

09 February 2023

The Economic Times | ET BFSI | BQ Prime | The Print | Daily Pioneer | Devdiscourse | Banking Frontiers | NagalandPost | The Hills Times | Eastern Mirror

06 February 2023

Business Standard

06 February 2023

The Economic Times

03 February 2023

Economic Times | ET Infra | BQ Prime | Udayavani | Latestly | NewsDrum

02 February 2023

The Week

02 February 2023

International Business Times

02 February 2023

Mint

02 February 2023

Business Standard

02 February 2023

Moneylife

02 February 2023

Business Insider

02 February 2023

Investing.com

02 February 2023

The Times of India

30 January 2023

investment.com

Reached out for comments on their rating of Adani group entities, Acuite Ratings & Research's Chief Analytical Officer Suman Chowdhury told IANS: "As a credit rating agency, Acuite Ratings & Research keeps all its outstanding ratings under continuous surveillance and evaluates the impact of any economic, industry or company specific event on the credit profile of a rated entity through a process of 'Material Event Review (MER)'."

16 January 2023

Investing.com

13 January 2023

The Week

13 January 2023

Financial Express | MSN

Suman Chowdhury, chief analytical officer, Acuité Ratings & Research said: "While RBI is expected to review its inflation forecast in the next MPC meet, we believe that the likelihood of a lower average inflation for FY23 as a whole vis-à-vis our forecast of 6.7% has increased,” he said.

07 January 2023

Business Insider

05 January 2023

Business Standard | Free Press Journal | Zeenews

29 December 2022

bqprime

19 December 2022

Free Press Journal | The Hans India | MSN

In a report, Acuite said India's annualised GDP growth in Q2 FY23 expectedly, expanded at a slower pace of 6.3 per cent year-on-year (YoY) as against 13.5 per cent in Q1 FY23, the latter led by the easing of favourable base impact created by the second Covid wave in the previous year.

19 December 2022

Bloomberg Prime.

Suman Chowdhury, executive director and chief analytical officer at AcuitéRatings and Research, said margin pressures are easing in the ongoing quarter aided by lower commodity prices, after having persisted across the board up to the previous quarter

19 December 2022

Moneycontrol

"It already had a significant impact on the trade deficit in H1FY23. During the April-October period, the cumulative trade deficit shot up to $175 billion as compared to $94 billion in the corresponding period of the previous year. This has aggravated the pressure on the INR. However, we expect the trade deficit to moderate in H2FY23 due to the ongoing reduction in crude oil prices,” said Suman Chowdhury, Executive Director & Chief Analytical Officer, Acuité Ratings & Research Limited.

13 December 2022

Business Standard

With core inflation continuing to be high, credit rating agencies like Acuite Ratings & Research and CARE Ratings do not expect any significant downtrend in the retail inflation for the next few months. 

07 December 2022

Financial Express

Since the RBI hasn’t changed its stance from ‘withdrawal of accommodation’ to ‘neutral’, experts have come to the consensus that the RBI’s outlook remains hawkish. "We believe that RBI’s stance has remained moderately hawkish with the continuation of its stance of ‘withdrawal of accommodation’,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.

07 December 2022

The Economic Times

07 December 2022

The Print

"Acuite expects a further rise in bank deposit rates over the next two quarters to the extent of 50-100 bps, given the narrative from MPC and the continuing momentum in credit growth. The pass-through of higher rates to home loans may start to impact the demand for housing, particularly in the mid- to high-ticket segment.”

05 December 2022

The Week

Suman Chowdhury, chief analytical officer at Acuite Ratings and Research, is also expecting a "moderate” repo rate hike of 30-35 basis points this week. He said "downside risks” to Acuite’s 7 per cent GDP growth forecast for 2022-23 had "increased due to the intense global headwinds.” 

04 December 2022

Financial Express 

"While we continue to peg GDP growth at 7.0% given the reasonably healthy domestic demand, downside risks to the forecast have increased due to the intense global headwinds. We continue with our expectations of a moderate hike of 30-35 bps in the repo rate in Dec-22 as the growth data has been in line with RBI’s forecasts,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.

30 December 2022

Financial Express 

"India’s GDP growth in Q2FY23 at 6.3% YoY has been slightly lower than our forecast and expectedly, has been driven by a strong pickup in the services sector as compared to the previous year which had been impacted by the pandemic fears. We believe that the manufacturing sector will continue to see a lack of momentum due to the decline in exports and may impact the overall growth print for FY23,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.

30 November 2022

The Economic Times

26 November 2022

Financial Express 

"We expect GDP growth at 6.5% in the second quarter of the fiscal. This will be significantly lower compared to the first quarter which was primarily driven by the favourable base effect,” said Suman Chowdhury, Chief analytical officer at Acuité Ratings & Research Ltd.

24 November 2022

Business Standard | IIFL | Fortune India

Acuite said that the rating continues to take into account improvement in profitability metrics, capital position and credit growth. The bank’s net interest margin (NIM) improved from 2.42 per cent as on H1FY22 to 3.04 per cent as on H1FY23.

21 November 2022

Livemint | Business Journal

"Credit bureau reports said some unrated loan accounts of EPDPL are not regular. High debt levels raises concerns on liquidity. Refinancing debt has not happened in a seamless manner. The proposed merger with Indiabulls Real Estate, could be value accretive, but may not translate into sizeable cash flows for the near term. That said, its financial flexibility in the form of asset monetization via REIT will remain," said Suman Chowdhury, chief analytical officer, Acuité Ratings.

15 November 2022

Business Today

Suman Chowdhury, Chief Analytical Officer of Acuité Ratings & Research: "Despite the unfavourable global backdrop marred by geopolitical uncertainty and an increasingly tight financial environment, India’s economy has remained broadly resilient with high frequency indicators witnessing a buoyancy, primarily supported by festivity-induced pent-up demand.” Chowdhury further points out that the Acuité Macroeconomic Performance (AMEP) index recorded a peak of 132.1 in September 2022 as against 120.7 in August 2022, which translates into a double-digit expansion of 14.1 per cent YoY in September 2022 compared to 12.4 per cent in August 2022; sequentially, the index expanded by 9.4 per cent month-on-month (MoM) from two consecutive negative months in July-August 2022.

15 November 2022

The Economic Times | Zeebiz | Financial Express | Indian Express | The New Indian Express | ET Auto | ET Infra

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research said raw material prices that increased due to supply constraints are set to moderate in the second half of the current fiscal while steel prices are expected to witness a firmness due to a seasonal pickup in demand.

10 November 2022

The Telegraph Online

"It has been estimated that India will need green funds to the extent of $170 bn every year. Even if the government is expected to fund 20 per cent of such requirements through, this will amount to issue of $34bn (Rs 2.72 lakh crore) on an annualised basis,” Suman Chowdhury, chief analytical officer, Acuité Ratings & Research said. "Given the limited size of the issuance for this fiscal at Rs 16,000 crore, we, however, don’t foresee any challenges in the mobilisation.”

28 October 2022

The Indian Express

16 October 2022

Trade Brains

"Apollo Micro Systems operates in niche segment of high entry barrier defence and aerospace industry, and the client profile comprises of mostly government organizations, with repeat orders received over the years, which mitigates the counter party credit risk to a large extent,” said rating agency Acuité as it reaffirmed its long-term and short term rating of the bank facilities Apollo Micro Systems with ‘stable’ outlook in September this year.

15 October 2022

Daily Pioneer | DT Next | The Print | The Week | Devdiscourse | The Hills Times

Acuité Ratings & Research, Chief Analytical Officer, Suman Chowdhury said the share of food on a consolidated basis in WPI stands much lower at 24.3 per cent, as compared to 45.9 per cent weightage in the Consumer Price Index (CPI) construct.

14 October 2022

13 October 2022

Financial Express

"In our opinion, the likelihood of a moderate hike of 35-40 bps in the repo rate in Dec-22 is high given not only the inflation print but also the pressure on the currency. The systemic liquidity will also get tighter and will start getting reflected through a rise in bank deposit rates to the extent of 100-150 bps over the next few months,” said Suman Chowdhary, Chief Analytics Officer, Acuite Ratings & Research. However, Chowdhary expects the average inflation in the second half of this fiscal to gradually moderate due to softening commodity prices and slowdown in global economic activity.

13 October 2022

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research said: "While the market was expecting the headline CPI inflation print to remain over 7.0 per cent in Sep-22, the actual figure has come higher at 7.4 per cent vs 7.0 per cent in Aug-22. As expected, the key factor has been food inflation which has increased sequentially by 0.9 per cent, leading to the overall inflation to go up by 0.6 per cent over the index in the previous month."

13 October 2022

Moneylife

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research said: "While the market was expectin g the headline CPI inflation print to remain over 7.0 per cent in Sep-22, the actual figure has come higher at 7.4 per cent vs 7.0 per cent in Aug-22. As expected, the key factor has been food inflation which has increased sequentially by 0.9 per cent, leading to the overall inflation to go up by 0.6 per cent over the index in the previous month."

07 October 2022

The Economic Times

Global currencies such as euro, pound and yen depreciated against dollar by as much as 13.2%, 18.2% and 18.2% in this fiscal so far, Acuite Ratings said in a report.

30 September 2022

Suman Chowdhury of Acuite Ratings said the fact that the central bank reiterated its resolve to be in the "withdrawal of accommodation" mode, has clearly increased the possibility of a further rate hike in December.

30 September 2022

Meanwhile, the government raised rates on certain small savings schemes on Thursday by up to 30 basis points (bps) for the December quarter. Experts said the reduction in surplus liquidity has ensured better monetary transmission and believe that deposit rate hikes are in the offing. "We believe that the large over 6% differential between the increased credit and deposit growth is clearly unsustainable and hence, we expect a hike in deposit rates by banks up to 50-150 bps in the second half of FY23," said Suman Chowdhury, chief analytical officer, Acuité Ratings & Research. Governor Das said the temporary moderation of surplus liquidity has to be seen in the context of the potential liquidity in the system arising from the expected pick-up in government spending in the second half of the year.

30 September 2022

30 September 2022

30 September 2022

30 September 2022

27 September 2022

The Indian Express

An improvement in banks’ overall asset quality and a reduction in the systemic risk aversion is also expected to aid the buoyancy in bank credit growth, said Suman Chowdhury, chief analytical officer, Acuité Ratings & Research.

26 September 2022

The Financial Express

The US Federal Reserve raised interest rates by 75 bps for the third consecutive time taking the policy rate to 3.0-3.25% with a view to combat the 40-year high inflation. From the domestic perspective, the overall economy continues to remain resilient with high-frequency indicators displaying incremental strength. "On the other hand, the uptrend in inflation has propelled the RBI to hike rates by 140 bps in 2022 so far, taking the repo rate to the pre-pandemic level of 5.40% currently. Acuité expects one more rate hike of 50 bps in the upcoming policy review,” said Suman Chowdhury, Acuité Ratings & Research, Chief Analytical Officer.

15 September 2022

The Financial Express

Scope for further easing in WPI inflation: Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research

12 Sep 2022

Bloomberg Quint Prime

10 Sep 2022

International Business Times | IANS

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research, said: "Along with the expanded trade and current account deficit, such an environment has kept the pressure on the rupee which continues to hover around 80. While the FII outflows have been arrested, the uncertainty on capital flows and the volatility in rupee are likely to persist in the short term."

10 Sep 2022

India TV

05 Sep 2022

The Hindu Businessline

"While the double-digit annualised growth is impressive prima facie, the actual print is around two per cent lower than market expectations and is also accompanied by weak sequential momentum," said Acuité.

01 Sep 2022

The Hindu Businessline | India Today

Acuité, said it remains cautiously optimistic about the domestic growth scenario as the dip in the external demand due to slowing global growth and rising interest rates could offset these gains. Considering the lower than expected GDP print in Q1 FY23, Acuité sees a downside risk of 30-40 basis points to the agency’s full-year GDP growth projection of 7.5 per cent.

31 Aug 2022

Financial Express

Acuité Ratings & Research expects India’s GDP growth in Q1 FY23 to register at 15%-16% on an annualised basis amidst support from a favourable statistical base due to the adverse impact of the disruptive Delta Covid wave in the previous year along with continued recovery in the services sector aided by pent-up demand, especially in sectors such as tourism, hospitality. Normalised personal mobility and an expansive vaccination coverage is also expected to aid growth. The GDP data is due for release post market hours today.

31 Aug 2022

Financial Express

Our AMEP index provides mixed signals on economic growth in the current fiscal; beyond the base factor, the double digit annualized growth numbers for most macro indicators reflects resilience and a gradual pickup in services sector as well as domestic private consumption despite inflationary headwinds and the global slowdown Suman Chowdhury, Chief Analytical Officer,  Acuité Ratings & Research

22 Aug 2022

Zeebiz| Weeklyvoice| The Hans India | News Today | NewsDeal

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research, said: "MPC minutes indicate that another 50-60 bps of a rate hike should be expected in the forthcoming policy announcements irrespective of the moderation in the inflation trajectory. The likelihood of the Q2FY23 CPI inflation print dropping to less than 6 per cent is low, particularly given the pickup in the services sector. What is encouraging to note is the declining inflationary expectations of households which reflects the effectiveness of both the monetary and the fiscal policy actions till now; it will also help in strengthening medium-term growth prospects.”

17 Aug 2022

IANS Live

The trade deficit figures in the coming months is expected to moderate in the coming months due to lower commodity prices and easing pressure on global supply chains, increasing risks to exports and relatively robust demand for imports is now likely to provide an upside risk to our FY23 current account deficit projection of $105 billion. Acuite ratings said in a report.

10 Aug 2022

The Week

"While there is a scope of another 50-60 bps of rate hike in the coming year, the pace of the residual hike will depend on the inflation print over the next few months. The rate hike implies further and higher rate increases in consumer loans as well as deposit rates,” said Suman Chowdhury, chief analytical officer at Acuite Ratings and Research.

05 Aug 2022

NDTV | The Print

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, said the deposit and lending rate hikes are expected by banks, given the improved credit demand in the economy.

29 July 2022

Economic Times

With the likely moderation in commodity prices and a potential reversal of the large capital outflows, any sharp decline from the current levels of 80/Uis unlikely, said a report by Acuite ratings.

26 July 2022

Business Standard

Acuite believes that the INR may stabilise in the band Rs 79-81 by March 2023 with the expected moderation in commodity and crude oil prices and the prospects of some reversal of the sharp capital outflows seen over the last six months.

22 July 2022

Moneycontrol

Suman Chowdhury, chief analytical officer at Acuite said they are identifying "relatively vulnerable issuers who are net importers or have significant foreign currency debt obligations”. They will assess if the rupee slump would impact these companies’ profits and balance sheets in FY23.

21 July 2022

The Economic Times

"As a rating agency, we have started to identify relatively vulnerable issuers who are net importers or have significant foreign currency debt obligations,” said Suman Chowdhury, chief analytical officer at Acuité Ratings & Research. "We will assess if there is any material impact of the depreciation on their profitability and balance sheet in FY23,” he said.

18 July 2022

The Hindu Businessline

"We revise our expectation of India’s FY23 current account deficit to $105 billion from $90 billion earlier,” said Acuite Ratings in its Market Pulse report. "We continue to expect therupeeto depreciate moderately, but extend our USD-INR call higher to 80.5-81.0 levels by Mar-23 vs. our earlier expectation of 79,” it added.

14 July 2022

The Market Times

Acuité expects the pace of IIP recovery to come under pressure given the prolonged headwinds from ongoing Russia-Ukraine, elevated price pressures and slowing global growth.

13 July 2022

The Week

"The current picture of inflation raises hopes of a gradual moderation going forward with Q1 average CPI inflation already lower than RBI’s forecast by 20 bps. This has the potential to slow down the pace of rate hikes in the current year,” said Suman Chowdhury, chief analytical officer at Acuite Ratings and Research.

12 July 2022

Business Standard | Outlook India | The Print | The Week | Quick Telecast

Suman Chowdhury, chief analytical officer at Acuite Ratings & Research, said with a pick-up in monsoon, food inflation should be range-bound in the current fiscal.

06 July 2022

India Today

In a research note published in May, ratings firm Acuite pointed out a few areas of concern, which include the geopolitical crisis that is keeping global commodity prices elevated and dampening world trade volume, the high cost of commodities due to the war and the supply disruptions, higher domestic demand post Covid which will lead to higher imports, and pressure on exports due to the export restrictions by the government in case of select commodities. In May, the Centre hiked duty on exports of iron ore up to 50 per cent, and a few steel intermediaries to 15 per cent to make them more available in the domestic market.

02 July 2022

Bloomberg Prime

Suman Chowdhury, chief analytical officer at Acuité Ratings and Research, said that it is too early to expect the decline in commodity prices to reflect in SME margins. If anything, because of the rise in logistics costs, pressure on margins is expected to rise, he said.

02 July 2022

The Economic Times | BFSI | ET Auto | ET CFO | News Insure | Business Tantra

The credit rating ratio, or upgrades over downgrades, dropped 83 basis points in the June quarter. The gauge is at 2.73 per cent versus 3.56 per cent in the March quarter, according to Prime Acuite Database

23 June 2022

The Week

Suman Chowdhury, chief analytical officer at Acuite Ratings, too now sees the rupee touching 79 to a dollar this year, versus 78 expected earlier.

The combination of elevated global commodity prices and sequential improvement in domestic growth among other things is resulting in widening of trade and current account deficit for India, said Chowdhury. 

22 June 2022

Moneycontrol | E Flip

"Currently, Air India has a relatively older fleet as compared to some of its peers and the induction of new aircraft in the fleet will help to reinvigorate the brand,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.

22 June 2022

Livemint

"We expect India’s CAD to widen to more than $90 billion in FY23, from an estimated level of $47 billion in FY22 amid persistent rise in crude oil price which has again risen to more than $120 per barrel," Acuite said.

20 June 2022

The Week

For central banks, it is like being between a rock and a hard place. "You cannot bring down food prices only by monetary policy action,” said Suman Chowdhury, chief analytical officer at Acuite Ratings and Research. "So, there has to be steps taken by the government.”

19 June 2022

The Free Press Journal | IANS| Investing.com | New Kerala | Prokerala | News Room Odisha | Nagaland Post | Suryaa | Vishvatimes | The Freedompress | Can India | Siasat | Daijiworld | Andhram | Telugustop | Forevernews | Fresherslive | hi INDiA | Socialnews | News4social | Digit News

Acuite Rankings said that what, even so, is of greater problem at this phase is the significant volatility in the worldwide capital marketplaces, triggered by a sharp tightening in the financial policies of state-of-the-art economies. This proceeds to guide to large and sustained FII money outflows, adding to the rupee depreciation pressures that have currently been made by a greater trade and current account deficit.

16 June 2022

Financial Express | News Deal | Paperdabba

The distinguishing element of corporate performance was profitability. Both operating profit (PBDIT) and net profit consistently grew at 26.6% and 34.8%, respectively, annually during the period, which were the highest in any two-year block over the last couple of decades, according to a report by Acuite Ratings & Research, which surveyed the financial performance of 1,370 listed non-financial companies over FY21 and FY22, said.

13 June 2022

The Hindubusinessline | Live Newshot

"General, the spurt in costs of key commodities and importantly the contemporary provide chain bottlenecks triggered by the persevering with Russia-Ukraine battle are prone to decelerate the revival within the industrial output within the near-term,” Acuité stated whereas retaining GDP development for FY23 at 7.5 per cent with average draw back threat.

08 June 2022

The Hindu | The Hindu Businessline | NDTV | Dailypioneer | Republicworld | The Print | Bharattimes | Telangana Today | Orissapost | Nagalandpost | Devdiscourse | The Hansindia | The Kashmirimages | Namma Karnataka News | Dailyexcelsior | Metrovaartha | Newsdeal | h10news | Tradebrains | Dellyranks | ApDirect | Quicktelecast | Jobsvacancy | Moneycontrol

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, said, "We believe that more rate hikes are likely in the next 2-3 policy meetings given that RBI has revised its headline inflation forecast sharply upwards.” "However, the extent of the subsequent hikes will depend on the inflation print over the next few months, the performance of the monsoon and its impact on the food prices as also on the effectiveness of the price control measures taken by the government.” Dhiraj Relli, MD & CEO, HDFC Securities, said while a revisit of the pre-COVID repo rate of 5.15% over the next 1-2 meets is a given, most economists expect this to go above that level.

06 June 2022

Business Standard | Dailyhunt | Dailypioneer | Mumbaipress | Investment Guru India | The Freedompress | SME Times | Weeklyvoice | Socialnews XYZ | Bizzbuzz News | Investing | Journeyline | Windowtonews | Dailyworld | The Hans India | Quicktelecast | Can India | Fresherslive | Telugustop | Prokerala | Newsroomodisha | Easternmirrornagaland | Shafaqna

The expectation of the expansion of the current account deficit is not just driven by elevated global commodity prices, but is also linked to the unlocking of the economy reviving pent-up demand and improved vaccination cover aiding an organic recovery in the economy, ratings and research firm Acuite Ratings & Research said in a report.

02 Jun 2022

Mintgenie

"Going forward in the current year, despite buffers from the recently concluded LIC IPO (garnering ₹20,500 crore on revised valuation) along with the likelihood of higher than budgeted tax revenue collections, we now see the possibility of fiscal slippage risks, aggregating to 0.3-0.4 percent of GDP from the budgeted 6.4 percent of GDP for FY23," said Acuité Ratings & Research in a note.

31 May 2022

The India Today

Overall, it is estimated that the RBI would raise repo rates by a total of 100 basis points in 2022-23. "Any continued pressure on headline inflation (based on consumer price index or CPI) could potentially tilt the balance in favour of additional hikes, thereby taking the repo rates to the pre-pandemic level of 5.15 per cent or higher,” says a report by Acuite Ratings & Research. Similarly, the RBI is expected to hike the cash reserve ratio (CRR) by another 50 basis points. The RBI had raised CRR by 50 basis points in May, taking it to 4.50 per cent. "Cumulatively, this would impound Rs 1.8 lakh crore of durable liquidity from the banking system and help amplify the monetary policy stance,” Acuite Rating said.

26 May 2022

BFSI

In the beginning of 2022, Omicron led to the fresh dent in economic activities. However, according to a report by Acuite Ratings and Research, the magnitude of the adverse impact was much lower as compared to the previous pandemic waves given less severity of infections amidst robust vaccination coverage, prevailing level of seroprevalence, improvement in medical and healthcare facilities and better management of supply chain logistics, all this was reflective in the all-time high GST collections in FY 2021-22

25 May 2022

The Wire

Of course, all of these measures will come at an economic and fiscal cost which puts the Indian economy on the fast lane to an assured destination of higher borrowings, widened gross fiscal deficit and a steeper yield curve. With the petrol and diesel excise duty rate cuts, the government coffers will be absorbing an annualised revenue loss of Rs 1 lakh crore, whereas the LPG subsidy, as per finance minister Nirmala Sitharaman, will cost the exchequer Rs 6,100 crore per year. Besides this, there are other import custom duty cuts on coking coal, ferronickel and coke ranging from 2.5%-5% to nil. According to Acuité Ratings & Research, the total cost of these fiscal slippages will chalk up to a hefty Rs 2 lakh crore.

23 May 2022

Financialexpress | Business Khabar | Aaj Ki Taaza News | Devdiscourse | Live-New Shot | Paperdabba | Anyfeed | Dellyranks

Acuité Ratings and Research Chief Analytical Officer Suman Chowdhury said the excise duty cut and rate revision on import and export of certain commodities including steel products will have adverse implications on the fiscal position for FY’23 which may deteriorate over the budgeted 6.4 per cent, leading to higher borrowings, reported by PTI.

17 May 2022

NDTV | Today News Network | AP Direct | Sarkari

That widening trade deficit trend will weigh further on the rupee, which hit new record lows repeatedly last week, according to Acuité Ratings.

17 May 2022

The Economic Times | Techilive | Nasiknews

The Russia-Ukraine conflict is not showing any signs of abating that could put further pressure on CPI inflation. "The Russia-Ukraine conflict is not showing any signs of cooling down. In fact, on the margin, the geopolitical environment seems to have deteriorated amidst unrelenting posturing by the two sides. This has raised the pressure on commodity prices further” said a report by ratings firm Acuite Ratings and Research.

16 May 2022

Brand Equity | BFSI | Economictimes | Business Standard | Freepressjournal | IANS | Navhind Times | The Statesman | Investing | CanIndia | Opinionexpress | The Hillstimes | Orissapost | News Karnataka | Greaterkashmir | Prokerala | Fresherslive | Suryaa | Nationalherald India | Forevernews | Socialnews XYZ | Asia Insurance Post | Daijiworld | Vishvatimes | Alwaysfirst | Siasat | Sentinelassam | Journeyline | Quicktelecast | The Freedompress | Andhram | News4social | AP7AM | H10 News

Sounding a red alert on India's CPI inflation at an 8-year high print of 7.79% YoY in April, Acuite Ratings has said it may trigger quicker rate hikes. "If inflation pressures continue to mount there is a likelihood of additional hikes thereby taking the rate to its pre- pandemic level of 5.15 per cent or even higher in FY23. Additionally, we also expect CRR to be hiked by another 50 bps by H1FY23," Acuite Ratings said.

13 May 2022

Times of India | Economictimes | Business Standard | Financial Express | Zeenews | CNBC TV | Telegraph India | Businesstoday | Deccanherald | Aajkitaazanews | Devdiscourse | Latestly | News Sarkari Job | Quicktelecast | Tradebrains | The Sen Times

The jump in inflation is dangerous and a scary start for the new fiscal year, Acuite Ratings and Research said in a note, adding that it also expects rate hikes of 1 per cent in the remainder of the fiscal.

09 May 2022

BFSI

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings, believes that by making a commitment on the integration of ESG in the decision framework, global investors, lenders and rating agencies will support a greater linkage between ESG performance of businesses vs targets and their ability to access funds for future growth.

05 May 2022
 
Business Today

India historically runs a trade deficit. As trade is normalising in the post pandemic period, the trade deficit has been widening as imports have been higher than exports. According to Acuité Ratings the cumulative trade deficit for 2021-22 has widened to more than a decade high at $192 billion. It was in 2012-13 when the trade deficit peaked at $190 billion. Given the higher crude prices , Acuité Ratings expects the trade deficit to widen further. A higher trade deficit will put pressure on the current account deficit (CAD), which in turn will increase demand for foreign currency, especially dollars, to finance the deficit.

05 May 2022

Economic Times | BFSI

"We expect a further rise in the CPI print over the next two-three months which will reflect the impact of retail fuel prices and also the increase in food inflation from categories such as edible oil,” said Suman Chowdhury, chief analytical officer at Acuite Ratings & Research,

05 May 2022

The Economic Times | The Week

The weakening economic impact of the pandemic, progressive normalisation of growth impulses, sharp upside risks to inflation and the need to be in sync with global interest rate cycle, warranted the commencement of withdrawal of the pandemic era monetary policy accommodation, said Suman Chowdhury, chief analytical officer at Acuite Ratings.

02 May 2022

26 Apr 2022

Financial Express | Rashtranews | The Spuzz

According to a November 26, 2021, report by Acuité Ratings, Future Brands has bank loans worth Rs 806.25 crore. Future Brands was incorporated in 2006 and is 98.06% owned by Future Ideas Company and Surplus Finvest as on March 31, 2019.

19 Apr 2022

The Hindu Businessline | Free Press Journal | Nav Hindtimes | News Karnataka | Business Insider | Investing | News Roomodisha | Orissapost | Prokerala | The Hillstimes | SME Times | The Kashmir Images | Nagalandpost | Vishvatimes | CanIndia | Latestly | Devdiscourse | Fresherslive | Daijiworld | Sarkaritel | Socialnews XYZ | Tradebrains | Windowtonews | Nyoooz | Absoluteindianews | Andhram | The Federal

''Amidst increasing pressures on the profit margins of manufacturing companies and a pickup in consumption demand, Acuité expects a further pass through of input costs. We expect persistent supply side bottlenecks and high commodity prices to hold the core inflation at double-digit levels in the near-term,'' Chowdhury said.

18 Apr 2022

BFSI

A reduction of 50-100 basis points in comparison to similar tenure vanilla g-secs may be necessary for the government to consider raising funds through this platform, said Mr. Sankar Chakraborti, Chairman, ESGRisk.ai & Group CEO, Acuité.

16 Apr 2022

Business Standard | IANS | CanIndia | Prokerala | The Shillong Times | The Hills Times | Fresherslive | SME Times | The Freedompress | Sentinelassam | Ommcom News | Journeyline | Daijiworld | Asiainsurancepost | Suryaa | Socialnews XYZ | Windowtonews | Alwaysfirst | Forevernews | Absolute Indianews

"If the predictions come true for this year, this will be the fourth successive year of a favourable monsoon and healthy agricultural prospects. A regular monsoon with healthy rainfall in the initial period of June-July'22 will help to moderate the prices of fruits and vegetables which have a significant weightage in the food basket," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

08 Apr 2022

The Economic Times | The Hindu Businessline | Livemint | Moneycontrol | Navhindtimes | The Week | Businessbreakingnews | Nyoooz | Dailyexcelsior

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research, said the announcements indicate the impending rise in repo rate over the next 1-2 policy meetings and may start to get reflected in a hike in banks’ deposit rates in the near term.
"Acuite believes that RBI has finally bitten the bullet and provided increased clarity on its monetary stance going forward. The increase in the repo rate and the change in the stance from accommodative to neutral can happen as early as June, depending on the inflation and the growth data. In our opinion, the market can brace for a 50 bps repo rate hike for the current financial year,” Chowdhury said. Stating that the economic activity is barely above pre-pandemic levels but continues to steadily recover, Das said the central bank will engage in a gradual withdrawal of liquidity over a multi-year timeframe beginning this year.

07 Apr 2022

Bloomberg Quint

Acuite Ratings & Research Ltd. expects Brent crude to stay at $97 a barrel in FY23, while Crisil forecasts an average of $85-90 for the fiscal.

07 Apr 2022

The Week

Suman Chowdhury, chief analytical officer at Acuite Ratings & Research says that given the deteriorating global growth outlook and its cascading impact on India’s growth recovery, there is limited scope for the RBI to tighten monetary policy at this juncture.

07 Apr 2022

Economictimes | Mintgenie

06 Apr 2022

The Hindu | Business Standard | News Indian Express | Money Control | CNBC TV | Zeebiz| TV9Hindi| Outlook India | Devdiscourse| The Federal | Trade Brains | Daily Excelsior | AP Direct

"Acuite believes that the demand for PVs will witness a moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas," it said.

06 Apr 2022

Bloomberg Quint

According to a report by Acuité Ratings & Research, The ECLGS has certainly helped in alleviating the financial stress in the MSME segment during the pandemic

05 Apr 2022

Money Control | MSN

Bajoria is not alone in forecasting such a sharp deterioration in the current account. Using an average price of Brent oil of $97 per barrel – the average of monthly future prices for the next 12 contracts – Acuite Ratings and Research has projected a CAD of $85 billion for FY23 as a base case. This would be just short of the record deficit of $88 billion, posted in FY13.

05 Apr 2022

BFSI

Acuite Research expects crude oil price to moderate with increased supplies. However, it may remain higher than the pre-conflict levels, and average in the range of $95-97 per barrel in FY23.

04 Apr 2022

Times of India | The Economic Times | ET Auto | NDTV | The Hindu businessline | Financial Express | Deccan Herald | Free Press Journal | Daily Pioneer | Outlook India | MSN | Gaga India | Swarajya | Business Today | BW Businessworld | Rediff | The Print | The Week | Udayavani | Telangana Today | Rashtra News | The Hills Times | Digi Hunt | DT Next | News Logic | Nyoooz | The Federal | Tradebrains | The Spuzz | ApDirect

Given the current uncertainties, Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, opined that RBI "has limited scope to tighten monetary policy".

02 Apr 2022

The Economic Times

The industry credit ratio, a gauge for financial health measured as a proportion of upgrades vis-à-vis downgrades, surged 172 basis points year-on-year to 2.81, data from Prime Acuite Rating Database showed. Prime Acuite compiled data from seven local rating companies.

30 Mar 2022

Inventiva

New findings from Acuité, a rating agency, point to India’s manufacturing industry replacing 25% of China’s imports. In a single year, the import bill would be reduced by over $8bn.

27 Mar 2022

India Today | MSN

With imports growing significantly compared to exports, analysts are seeing a widening of the current account deficit (CAD). Acuite Ratings, for instance, projects CAD in 2022-23 to widen to $85 billion. This will happen due to elevated global commodity prices, unlocking of the economy after the Omicron wave, improved vaccination cover limiting future Covid-led disruptions, and production-linked incentives by the Centre starting to contribute to export buoyancy in a gradual manner from FY23.

27 Mar 2022

The Freedompress | Sarkaritel | Socialnews | Forever News | Prokerala | CanIndia | Windowtonews | Andhram | Buzinessbytes | Newsroomodisha | Netindia123 | Webindia123 | India New England | Vishvatimes | New Kerala

"The resumption of regular international flights after a hiatus of 2 years is set to give a booster shot to the domestic airline companies who have seen a prolonged disruption to their operations,” said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

24 Mar 2022

Bloomberg Quint

24 Mar 2022

Bloomberg Quint

While Brent crude has retreated from 14-year-high of $139.13 a barrel on March 7, it’s still elevated at $117. Acuite Ratings & Research expects the Asian benchmark for oil to stay around $97 in FY23.

24 Mar 2022

Bloomberg Quint

17 Mar 2022

Business Standard | IANS Live | SME Times | News Karnataka | NewKerala| Prokerala| Fresherslive| Buzinessbytes| Window To News | Andhram| CanIndia| Socialnews XYZ

On the other hand, Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research said: "We don't see any immediate risk of stagflation in India as high infrastructure spending and recovery of the services sector should ensure healthy growth prospects for India in the near to medium term."

16 Mar 2022

The Economic Times | BFSI

16 Mar 2022

Forever News

Acuite Ratings & Research’s Chief Analytical Officer Suman Chowdhury said: "Clearly, this upward momentum is set to continue in March 2022 as the crude oil prices have shot up further and is currently hovering close to $110 per barrel (Brent).

15 Mar 2022

The Financial Express | NDTV | Bloombergquint | MSN | Aaj Ki Taaza News | Newzz

The retail inflation for the earlier month of January was at 6.01 per cent. Earlier, in its bimonthly financial coverage meet in February, the RBI had stated the CPI inflation is anticipated at 5.3 per cent for FY22 and 4.5 per cent for FY23. The February CPI print should still not improve the typical retail inflation past 5.5% for the present monetary yr 2021-22, Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, stated.

14 Mar 2022

The Hindu Businessline | Fresherslive | NetIndian | Sarkaritel | News Karnataka | The Freedom Press | SME Times | News Room Odisha | Daijiworld | Buzinessbytes | Andhram | CanIndia | Prokerala

Acuite Ratings & Research's Chief Analytical Officer Suman Chowdhury said: "Clearly, this upward momentum is set to continue in March 2022 as the crude oil prices have shot up further and is currently hovering close to $110 per barrel (Brent).

13 Mar 2022

IANS Live | Fresherslive | Socialnews XYZ | Forevernews | Can India | Prokerala | Newkerala | The Freedompress | Windowtonews | Vishvatimes | Daijiworld

According to Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research: "There is a significant likelihood of CPI averaging 6 per cent in FY23 if crude oil prices remain above $100 per barrel over an extended period."

09 Mar 2022

Lokmat Times | The Newsmen | New Kerala | The Freedompress | Webindia123 | Newsjani | Investing |  The Media Coffee | Asian Independent | MENAFN | Vishvatimes | Ommcom News | Buzinessbytes | CanIndia | Andhram | Prokerala | Daijiworld | Fresherslive | Window To News

"The cost of imported coal for Indian power plants has become virtually unviable given that many of these plants have a competitive bid fixed tariff structure. For plants with a pass through structure, the variable tariff is usually reset on an annual basis and will depend on the procurement costs from CIL sources, not directly linked with global coal prices," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

08 Mar 2022

ET Auto | Free Press Journal | Fresherslive | Daijiworld

"Except for a 2 year period between 2012-14, crude oil prices have never averaged over USD 100 pb in the last 10 years and have supported a relatively benign inflation trajectory," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

06 Mar 2022

The Hindu | The Journal Time | ApDirect

"Given her wealth of experience in the capital markets and financial services space, she understands the pulse of the markets and knows what the market regulator’s focus ought to be,” said Sankar Chakraborti, Group CEO, Acuité Ratings and Research.

05 Mar 2022

Livemint | Dhansutra

"Business confidence throughout producers and service suppliers nonetheless stay subdued led by the continued rise in inflationary pressures,” in line with Acuité Ratings & Research Ltd, While the score company believes the expansion outlook for India might not have a excessive linkage with the rising geopolitical dangers, growing sanctions on Russia can disrupt international commodity markets and provide chains of some merchandise, thereby having an oblique influence on the provision aspect and aggravating inflationary pressures.

02 Mar 2022

Moneylife

"Clearly, high crude oil prices that have breached the $110 pb mark due to the emerging geo political crisis in Ukraine, will create significant inflationary headwinds for the Indian economy," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

02 Mar 2022

Krishijagran| NewKerala

"High crude oil prices, which have exceeded the $110 per barrel level owing to the escalating geopolitical situation in Ukraine, would clearly generate major inflationary headwinds for the Indian economy," said Suman Chowdhury, Chief Analytics Officer, AcuiteRatings & Research.

01 Mar 2022

Moneycontrol| Hindi Moneycontrol | SME Times

Acuite Ratings & Research Chief Analytical Officer Suman Chowdhury said: "While the core sector has been largely resilient to the third wave of the pandemic witnessed in the month of Jan' 22, the weaker momentum in output growth can be attributed to the uncertainty created by the spread of Omicron.

28 Feb 2022

Energy News | New Indian Express | IANS Live | Zee5 | The Print | The Week | Devdiscourse | CanIndia| Investment Guru India | Daijiworld | Nyoooz | Siasat | Socialnews XYZ | Newsroomodisha | Buzinessbytes | Tradebrains | The Freedompress | Telugustop | Bollyinside | MENAFN | Andhravilas | Compsmag| Greendealnews

"While we continue to believe that government’s thrust on infrastructure segment and the progress in vaccinations will strengthen core sector activity over the next few quarters, higher commodity prices and fresh supply chain bottlenecks in the context of the emerging geo-political risks through the Russia- Ukraine conflict will remain a point of concern,” Suman Chowdhury, Chief Analytical Officer at Acuite Ratings & Research, said.

25 Feb 2022

Economic Times | The Hindu | New Indian Express | MSN | Goodreturns

" Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, said, "As the global economy witnesses a drop in headwinds from the Covid pandemic, new geopolitical risks emerge from the Russia-Ukraine conflict and if turns out to be a prolonged affair, crude oil prices are likely to stay above USD 100 over the near term." This will clearly have an impact on the domestic inflationary scenario where there are already significant undercurrents due to increasing pass-through of higher commodity prices with improving demand in manufactured products and even services, he said. "While the government can partly alleviate the pressures through a further cut in excise duties of retail fuels, input costs are set to increase further for sectors such as paints, chemicals, plastic products, transport and aviation in the near term.

24 Feb 2022

Business Standard | The Newsmen | IANS Live | Daijiworld | Fresherslive | Socialnews XYZ | Lokmat Times | Bhaskarlive | MENAFN | Bhaskarlive | The Freedompress | SME Times | Can India | Vishvatimes

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research, said international gold prices have remained mostly above $1,750 for most of the months in the last one year but despite that gold imports by India have remained high.

24 Feb 2022

22 Feb 2022

BFSI | News WWC | Livdose

India’s FY22 GDP growth remains to be seen at 9.5% as the third COVID-19 wave will have limited impact on the Indian economy, according to a report by Acuite Ratings and Research.

18 Feb 2022

IANS Live | Lokmattimes | CanIndia | Fresherslive | Business Bytes | News Room Odisha | India Tribune | Cityairnews | Social News XYZ | Sarkaritel | True Scoop News | Ommcom News | NP News24 | Telugu Bullet | Andhram | Andhravilas | Daijiworld | menafn | Latestly | Telugustop | Nav Hindtimes | The Newsmen | Tamil Tech Central | Reporterpost | Indiagreets

"Expectedly, Omicron has led to a fresh dent in domestic economic activities which was also reflected in our proprietary AMEP (Acuite Macroeconomic Performance) monthly index which eased to 112.2 in Jan-22 from 115.0 in Dec-21,” Chief Analytical Officer, Suman Chowdhury, said.

17 Feb 2022

The Economic Times | ET CFO | The News Men | Daijiworld| Precious Kashmir | Telugu Stop | Fresherslive| True Scoop News | socialnews| Buzinessbytes| Pehal News | Knowledia| Andhram| menafn| Andhravilas| PUBLIC| Verve times | CanIndia| The Feed Front | IANS | Indiagreets

India’s FY22 current account deficit faces mild upside risk from high commodity prices, said Acuite Ratings & Research.

15 Feb 2022

ThePrint | Bloomberg Quint | The Week | Free Press Journal | Rediff.com | Telugustop | The Navhind Times | NewsDeal | Moneylife

Furthermore, Acuite Ratings & Research said: "Going forward, as the recovery turns more sustainable given strong progress in vaccination, decline in Covid caseloads along with gradual unwinding of lockdown restrictions by states we expect the RBI to gradually revert to its pre-pandemic policy corridor by hiking the reverse repo rate between April-22 and June-22 policy meeting."

15 Feb 2022

The Hindu Businessline

"Overall, the momentum of industrial revival has been slow in Q3FY22 and given the high base factor, one can continue to expect moderate growth at best in IIP in Q4FY22," said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.

10 Feb 2022

ThePrint | The Week | Business Today | Daijiworld | Devdiscourse | Social News XYZ | TeluguStop | menafn | SME Times | CanIndia | Andhram

In addition, Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research said: "It is clear that the central bank wants to hold on to the supportive monetary policy and augment the growth focussed budgetary initiatives of the government till the data points to a strong pick up in domestic consumption demand.”

10 Feb 2022

IndiaInfoline | Zeebiz

Says Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research "As such, we believe RBI could consider moving reverse repo rate up by 20 bps in the Feb-22 policy review to signal the initiation of interest rate normalization cycle while retaining the accommodative stance and the repo rate till the growth signals in the economy become durable. This will also be consistent with its ongoing emphasis on rationalization of liquidity surplus, which has already pushed short term money market rates higher.”

07 Feb 2022

Ahmedabad Mirror | Lokmat Times | CanIndia | menafn |  New Kerala | IndUS Business Journal | SME Times | Sarkaritel | Daijiworld | True Scoop News | Fresherslive | Telugustop | News Karnataka | Social News XYZ | Andhravilas

"We believe RBI could consider moving reverse repo rate up by 20 bps in the February 2022 policy review to signal the initiation of interest rate normalisation cycle while retaining the accommodative stance and the repo rate till the growth signals in the economy become durable,” said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

01 Feb 2022

The Hindu | The Hindu BusinessLine | Money Control | Financial Express

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research

On Fiscal Deficit: In line with our expectations, the revised fiscal deficit for FY22 has been assessed at 6.9%, slightly higher than the budgeted print. In our opinion, this reflects the uncertainty on the LIC IPO and also the back loaded revenue and capital expenditure in FY22. With the significant jump in outlay for capex in FY23, the reduction in the fiscal deficit is budgeted to be only moderate at 6.4% next year. This will imply a significant quantum of gross govt borrowings as in the current year and will maintain the firmness in bond yields which have already seen a spike.

01 Feb 2022

Times of India | Firstpost

01 Feb 2022

The Hindu BusinessLine

According to Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, "The outlay for capex has been significantly enhanced by 35 per cent from Rs 5.5 lakh Cr to Rs 7.5 lakh Cr, which is more than double of the levels in FY20. This will continue to boost the construction sector and generate jobs in the infrastructure sector.”

01 Feb 2022

Telegraph India | Finance Yahoo | Reuters | Times Now News

The downward revision "highlights the uncertainty regarding theLIC IPO," said Suman Chowdhury, chief analytical officer, Acuité Ratings in a note. "It is evident that the government is unlikely to pursue public sector units disinvestment in an aggressive manner over the next 1-2 years."

28 Jan 2022

Business Standard | Daijiworld | IANS Live | Fresherslive | CanIndia | SME Times | Telugustop | MENAFN

"We expect a higher outlay for the healthcare infrastructure sector across the country and this is partly driven by the compulsions from the prolonged pandemic,” said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

27 Jan 2022

Business Standard | The Print | PTI News | Samacharlive | Latestly | Business Upturn | Webindia123 | Easternherald | Lokmat TImes | PRnewswire | ANI News | Devdiscourse

Celebrating the momentous occasion, Mr. Sankar Chakraborti, Group CEO at Acuité Ratings & Research, said, ''Receiving the Great Place to Work®-Certification is a reminder that nothing is more precious to an institution than human capital. Whether it's driving innovations through technology to people's practices, we put our team at the heart of everything we do. This day, we reiterate our unwavering commitment to be loyal to these values and meet the expectations of our stakeholders.'' Acuité has been making consistent efforts in building an inclusive culture by facilitating idea generation and stimulating an intellectual environment. The company has made a remarkable impact in the minds of its stakeholders which was possible due to the excellence in execution demonstrated by its employees.

27 Jan 2022

Business Standard

The prolonged Covid pandemic had a significant impact on economic activity in FY21 when the real GDP contracted by 7.3%. While the pandemic continued in FY22 with an intense second wave in Q1FY22 and a nascent third wave in Q4FY22, the economy has witnessed a revival with expected GDP growth in the range of 9-10% for the current fiscal, which highlights that the economic output has exceeded the pre-pandemic levels. What has driven the revival is robust growth in public capital expenditure and exports, the latter fuelled by the demand recovery in the developed economies. Private consumption demand, however, remains a weakness particularly from the rural areas and is still yet to come above the pre-pandemic levels. Although the agricultural output has been healthy during the pandemic period and a broad-based revival in the manufacturing sector has been in evidence in FY22, the services sector is clearly yet to witness an adequate revival particularly the largely contact intensive trade, hotels and transport sector which is estimated to have a shortfall of 8.5% compared to the pre-pandemic FY20.

25 Jan 2022

BFSI | ET Auto | ET CFO | Fresherslive | IANS Live | Daijiworld | SME Times | Webindia123 | CanIndia | Telugustop | Socialnews XYZ | MENAFN

"Higher spending on infrastructure and construction projects have a positive spin-off on employment and consumption demand,” said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

21 Jan 2022

Business Standard | Zee News | Bharat Times | New Kerala

"We believe there is a case for considering 'infrastructure sector' status to the healthcare and the EV charging eco-system. The criticality of adequate healthcare infrastructure across the country has increased significantly after the pandemic and the 'infrastructure' tag can be extended to not only hospitals but also diagnostic centres," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

19 Jan 2022

The Hans India | Zee Business | Daijiworld | IANS Live | Investment Guru India | BFSI

"As regards the fiscal projections for FY23, we believe that the focus will remain on growth stimulation and include higher revenue and capital expenditure outlay. Therefore, we don't foresee any major reduction in the budgeted fiscal deficit for next year," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

18 Jan 2022

 Business Standard

17 Jan 2022

MENAFN | Socialnews XYZ | Telugustop|Andhram | News Karnataka | Samaj Weekly | IANS Live | Fresherslive | Webindia 123

According to Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research: "The data indicates that the incremental price pressures in the primary article and the fuel segments have eased in the previous month, although a fresh rise in global crude prices can make such a relief temporary.

13 Jan 2022

Sambad English | Lokmat Times | Ommcom News | English Telugustop | Fresherslive | Precious Kashmir | WebIndia123 | MENAFN | Andhram

Acuite Ratings & Research’s Chief Analytical Officer, Suman Chowdhury, said: "Core inflation continues to be elevated and estimated at 6.2 per cent for Dec-21, almost at similar levels as in the previous month.

12 Jan 2022

Daijiworld | Bizzbuzz | IANS Live | Telugustop | SME Times | New Kerala | MENAFN | English Telugustop | CanIndia

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings and Research, said: "We believe that the economic impact of the third wave will be relatively lower as compared to the previous surges going by the current data on hospitalisation and mortalities which will hopefully translate into lesser risk of large scale and prolonged lockdowns.

07 Jan 2022

The Hindu BusinessLine | The Outreach

Acuité Ratings has also revised its 2021-22 current account deficit forecast to $46 billion from $38 billion earlier, as against a surplus of $24 billion in 2020-21.

05 Jan 2022

ET Auto | Fresherslive | Webindia123 | MENAFN | CanIndia | GreatAndhra

The reimposition of restrictions due to the rise in Covid cases is expected to impact demand for automobiles, especially for passenger vehicles and two-wheeler, ratings agency Acuite said on Tuesday.

04 Jan 2022

Livemint | Business Journal | Businesstoday | Capital

The NCDs have been rated AA- with a negative outlook by rating agency Crisil Ltd and AA with a negative outlook by Acuité Ratings & Research Ltd.

03 Jan 2022

Business-Journal | Canindia | New Kerala | IANSlive | Fresherslive | Daijiworld | Deccanherald | Infra Economic Times | Business Standard

Additionally, Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research said: "As of 2020, there were 153 operational airports in India which is poised to grow to by another 20-30 by 2030.”

30 Dec 2021

Free Press Journal | Zee Business | Economic Times | Business Standard | Siasat | Ahmedabad Mirror | Daijiworld | Social News

Indian rupee has been on a tumultuous ride since the beginning of the calendar 2021, witnessing significant volatility in the band of 72.4-76.0/USD. From maintaining an appreciating bias in the early months of 2021 amidst record high foreign inflows, the INR has been losing ground past couple of months and is likely to end the year as one of the laggards among the Asian market currencies, Acuite Ratings said.

27 Dec 2021

Free Press Journal | Latestly | CMIE | IANSlive | Daijiworld | Latest news | Socialnews | SME times | New Kerala | Telugu Stop | Andhram | Canindia

"We observed that after the expansion in two consecutive months our proprietary AMEP (Acuite Macroeconomic Performance) index fell to 111 in November from a post-Covid peak of 124.9," Suman Chowdhury, Chief Analytical Officer of Acuite Ratings, said.

24 Dec 2021

The Hindu Business Line | News on News

Acuité Ratings & Research said its proprietary, AMEP (Acuité Macroeconomic Performance) index, fell to 111 in November 2021 from a post-Covid peak of 124.9 in October 2021, showing a loss in the momentum of economic recovery as the pent up and festive consumption demand dropped in intensity.

23 Dec 2021

Livemint

ESG data from ESG Risk Assessments & Insights Ltd, by Acuite Ratings, showed that of the Nifty 50 companies, 40% of private sector companies are rated ESG risk A. In contrast, only 14% of public sector units are rated A. Risk A indicates an ESG leader with a largely positive track record of managing material risks.

23 Dec 2021

Bloomberg Quint

Besides India Ratings, Acuite Ratings & Research, too, has started incorporating ESG factors into its credit ratings. They will disclose the "financial materiality" of the ESG issues to the credit ratings in their analysis. Crisil Ltd. has its own ESG rankings separate from credit ratings.

16 Dec 2021

sify| Nagpur Info

"The WPI print for November 21 clearly highlights the underlying inflationary pressures in the economy that is not apparent in the headline CPI print," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

15 Dec 2021

The Economic Times | NDTV | The Hindu | Zee 5 | Fox Story India

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, said, "The WPI print for November highlights the underlying inflationary pressures in the economy that is not apparent in the headline CPI print. While the wholesale inflation had declined to 10.66 per cent year-on-year in September, it climbed back to 12.54 per cent (YoY) in October and further to 14.23 per cent in November, the highest level seen in the current year."

15 Dec 2021

The Hindu

"While the central bank was vested with regulatory oversight on the banking activities of UCBs and DCCBs, its powers were limited to some extent which impacted its ability to take timely action in case of irregularities,” said Suman Chowdhury, Chief Analytical Officer at Acuité Ratings & Research.

14 Dec 2021

sify

Acuite Ratings & Research Chief Analytical Officer, Suman Chowdhury said: "While the momentum of industrial revival is slower than expected, the output levels have started to exceed the pre pandemic levels."

14 Dec 2021

Henry Clubs

Suman Choudhary, chief analytical officer, Acuite Ratings and Research, said the rise in food inflation was driven by volatility in vegetable inflation, which has remained stable at 7.4% month-on-month despite favorable winter weather. This, he said, must have happened due to erratic rainfall patterns in some parts of the country.

13 Dec 2021

Zee News | MSN | SMEStreet | Daijiworld | Telugu Stop | Andhravilas | Bharat Times | Fresherslive

08 Dec 2021

Financial Express | The Week | Aaj ki Taaza News | MSN | Samachar Central

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research: Monetary policy normalization will continue in the major global economies given the extended period of higher inflation but the speed may vary across the central banks, depending upon their assessment of the residual pandemic risks. India is also expected to continue with the gradual approach to normalization and a phase-wise increase in the reverse repo rate can be envisaged in the current fiscal.

08 Dec 2021

IIFL Securities | Zeebiz | The Hindu Business Line | Bloomberg Quint

While there was a partial likelihood of a modest hike in reverse repo rate in today's MPC policy meeting, the central bank has stuck to its principle of ‘gradualism’ since the downside risks to a durable growth trajectory have clearly increased due to the spread of a new Covid variant, said Suman Chowdhury, chief analytical officer, Acuité Ratings & Research.

07 Dec 2021

Financial Express | The Economic Times

06 Dec 2021

The Hindu Business Line | The Outreach

"Overall, we expect PMI manufacturing and services to remain strong in the remainder of FY22 amidst a near complete removal of lockdown restrictions, ebbing of infections, improved consumer sentiments and steady progress on vaccination,” said rating agency Acuité Ratings & Research.

03 Dec 2021

The Economic Times

01 Dec 2021

The Economic Times | Moneycontrol | Bloomberg Quint | Telegraph India | MSN India | Telugu Stop | Daijiworld | New Kerala | Socialnews XYZ

"What is encouraging to see is a 10.7 per cent growth in gross capital formation in Q2FY22, driven primarily by public capital expenditure although there are also signs of a pickup in private capex in the current fiscal," said Suman Chowdhury, chief analytics officer, Acuite Ratings.

30 Nov 2021

Free Press Journal | Fresherslive | Sify | Telugustop | Daijiworld | Lokmat | Webindia123 | SME Times | Andhram 

"We expect India's GDP and GVA to grow by 8.5 per cent YoY and 7.5 percent YoY, respectively, in Q2FY22 amid some support from a favourable statistical base along with a gradual removal of lockdown restrictions by most states towards the end of the last quarter," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

26 Nov 2021

Business Standard | Moneycontrol | Free Press Journal | India.com | DT Next | Latestly | Lokmat |  Telugustop | Kalinga TV | The News Motion | Economic Times | Bloomberg Quint | ET BFSI | CMIE

India’s Q2FY22 GDP is expected to grow by 8.5 per cent on a year-on-year (YoY) basis amid support from a favourable base, Acuite Ratings and Research said.

26 Nov 2021

Business Standard | India.com| SME Times | Mangalorean| Telugustop

Acuite Ratings and Research's Chief Analytical Officer Suman Chowdhury said: "Some categories in the food basket have seen heightened inflation in the current year which includes edible oil, egg, meat and fish and pulses. Further, the sharply increased prices of petrol and diesel have also increased household expenditures with the unlocking of the economy."

22 Nov 2021

IBM Times

"Clearly, IndiGo has built a dominant position in the domestic airline market over the last few years and in the pre-pandemic period, it was the only airline in India which demonstrated the ability to generate a healthy level of profits," Acuite Ratings and Research Ltd Chief Analytical Officer Suman Chowdhury said.

22 Nov 2021

BFSI

Comfort on food inflation, likely record kharif output, and recent reduction in VAT on petrol and diesel are likely to keep headline inflation and household inflation expectations in check, according to a report by Acuite Ratings and Research.

16 Nov 2021

The Hindu BusinessLine

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research said, "The WPI print for Oct-21 highlights the underlying inflationary pressures in the economy.”

16 Nov 2021

Bloomberg Quint

The export momentum continues to be encouraging but imports have also started to grow at a rapid rate both due to higher value of crude oil imports as well as higher domestic demand for non-oil products, Suman Chowdhury, chief analytical officer at Acuite Research, told BloombergQuint.

15 Nov 2021

ET Auto | IANS Live

The continued benign inflationary trajectory in Q3FY22 has increased the likelihood of further postponement of interest rate normalisation, said Acuite Ratings & Research.

12 Nov 2021

Bloomberg Quint

After an extended period of sluggish loan growth, Indian lenders are starting to step up the pace at which they are giving out credit. Much of the improvement is coming via lending to medium-sized industries even as large corporations see little reason to borrow from banks and smaller units remain risky bets.

Between September last year and this year, banks extended a net of Rs 68,871 crore in loans to the industry, according to data published by the Reserve Bank of India. Much of this incremental lending was towards units titled as 'medium' sized and defined as those where investment in plant and machinery does not exceed Rs 50 crore and turnover does not exceed Rs 250 crore.

Outstanding credit to micro and small industries rose by Rs 35,092 crore. Outstanding credit to medium industries rose by Rs 57,540 crore. Outstanding credit to large industries fell by Rs 23,760 crore.

Credit growth to medium enterprises has grown rapidly through 2021, rising 71.5% on an annual basis in July 2021, before easing to 49% in September. In comparison, credit growth to the overall industry remained range bound at 2.5% in September.

As banks have stepped up lending to mid-sized firms, their share in outstanding credit has also increased. The share of credit outstanding to medium-sized industries, an indicator which moves slowly due to the relative size of large corporate lending, has risen to 6% in September 2021 from 4.5% in September 2020, the data shows.

CS Setty, managing director at the State Bank of India, said that medium-sized enterprises tend to do better compared to micro and small industries that are vulnerable and were harder hit in the pandemic. In addition, the government's emergency credit line scheme helped these companies survive and they are now benefitting as demand picks up, he said.

Within medium-sized industries, some sectors are seeing a bigger pick-up than others. According to RBI's sectoral bank credit data, infrastructure, textiles and chemicals are among those seeing improved traction.

Credit to infrastructure rose 5.8% in September over a year earlier, led by lending to power and road companies. Airports and roads saw the fastest pace of growth, rising by 46.5% and by 24.8% respectively. Credit to textiles rose 6.3% over a year earlier, while chemicals and chemical products saw a rise of 4.1%.

09 Nov 2021

Business Standard

Last year Acuite Ratings & Research launched ESGRisk.ai to provide ESG ratings to India’s top listed companies. Sankar Chakraborti chairman, ESGRisk.ai & group CEO, Acuité Ratings & Research tells Krishna Kant from Business Standard.

08 Nov 2021

Times of India | Economic Times | FreePress Journal | Latestly | Lokmat | The Greater India | Urallnews | IANS Live | Global Circulate

Commercial Vehicle volumes are set to pick up with the ongoing economic revival, ratings agency Acuite Ratings and Research Said.

08 Nov 2021

Smart Investor | The Statesman | News Insure | Urall News

According to Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research: "Clearly, the festive season is likely to give an impetus to retail demand and this is already getting reflected in the data published by Confederation of All India Traders (CAIT) for this Diwali season; the sales at retail outlets have reportedly more than doubled to Rs 1.25 lakh crore from Rs 60,000 crore in 2019."

08 Nov 2021

Daijiworld | Socialnews.XYZ | MENAFN | Andhravilas

Furthermore, the mobility of the area's residents start to get impacted due to the phenomenon, said Acuite Ratings & Research Chief Analytical Officer Suman Chowdhury, adding that this impacts contact intensive sectors such as retail and hospitality.

03 Nov 2021

ET BFSI

02 Nov 2021

The Economic Times

Over the last five years, public sector banks' market share has dropped by around 10% in both deposits and advances. "Clearly, asset quality and the resultant profitability, as well as capital challenges, have been the key factor in the slowdown of the public sector banks," Acuite Ratings & Research said in a note.

01 Nov 2021

The Hindu Businessline | ET Auto | NDTV | Lokmat | Fresherslive | IANS Live

While we continue to believe that government's thrust on infrastructure segment, progress in vaccinations along with strong export demand will continue to bolster overall industrial activity over the next few quarters, the Sep-21 core sector data has come as a negative surprises and highlights concerns on higher commodity prices and raw material shortages,'' said Mr. Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.

01 Nov 2021

Mint

A recent report by Acuité Ratings & Research Ltd showed that India’s gold imports were at a decade-high level in the first half of FY22, as a mild correction in domestic gold prices by 2.7% from the peak seen in May further provided a fillip to domestic gold demand. "It is also likely that a part of increased household savings in the higher income categories are being partly deployed in physical gold as it has been traditionally considered to be a safe haven in an environment where the risks of the pandemic continue to exist," said Suman Chowdhury, chief analytical officer, Acuité.

29 Oct 2021

The Hindu Businessline | Moneycontrol | The Outreach | MSN | Andhram

The Indian banking sector is set to witness a fresh round of consolidation over the medium term – spread over FY22-24 period - primarily driven by large private sector banks, according to Acuite Ratings and Research.

26 Oct 2021

Moneycontrol

"The release of the pent-up demand following the easing of lockdown restrictions and re-opening of retail outlets, the revival in consumer sentiments due to the steady progress in vaccination, the declining risk of a third COVID wave along with re-stocking of inventories ahead of the festive and wedding season have led gold imports to surge in FY22 so far,” says Suman Chowdhury, Chief Analytical Officer, Acuité Ratings.

26 Oct 2021

Livemint

21 Oct 2021

Freepress Journal | Daijiworld | Webindia123 | Socialnews XYZ | Fresherslive | MENAFN | IANS Live | Wefornews | IND Forums

"Based on the steady progress on vaccination, expected improvement in consumption driven by pent-up demand for goods and vengeance spend on services, favourable kharif crop estimates, export buoyancy as well as the continuing accommodative monetary and fiscal policy backdrop, we continue to hold on to our FY22 growth forecast of 10 per cent," said Suman Chowdhury, Chief Analytical Officer at Acuite Ratings & Research.

18 Oct 2021

The Hindu | Outlook India | Deccanherald | The Week | Business World

Suman Chowdhury of Acuite Ratings & Research said the gap between CPI and WPI inflation indicates that the current inflationary risks are primarily emerging from the impact of commodity prices on the manufacturing sector, where further pass-through is likely as demand continues to improve.

13 Oct 2021

IndiaTV News | IANS Live | Social News XYZ | TeluguStop | Andhram | Fresherslive | MENAFN | WebIndia123 | Buzinessbytes | Samachar Central | TechiAI | Mediantwrk | Urban Press | HinduPost | New Kerala | Mydroll

Acuite Ratings & Research Chief Analytical Officer Suman Chowdhury stated: "India’s Industrial Production expanded by 11.9 per cent YoY in August 2021 with a gradual revival in industrial activity. However, the momentum of such revival has clearly dropped as evident from the slight sequential contraction in the index vis-a-vis the strong uptick seen in the months of June-July after the peak of the second Covid wave.”

09 Oct 2021

The Hindu Businessline | Reuters | Money Control | The Outreach | Devdiscourse | Gulf TImes | Finance Yahoo | The National News | Daily Sun | Aviation India | The Edgemarkets | The Business Standard | Business Journal

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings and Research, said, "With Air India, Vistara, and Air Asia having a current combined market share of 26.9 per cent, the Tata Group will emerge as the second-largest domestic airline after IndiGo once the consolidation of the operations of all three airlines is completed.”

08 Oct 2021

Financial Express | Bloomberg Quint | Business Today | NDTV

"While food inflation is expected to remain low, we believe there is a case to monitor inflation very closely over the next few months given the continuing commodity price pressures, industrial raw material shortages and the impending recovery in consumer demand," says Suman Chowdhury, Chief Analytical Officer at Acuité Ratings & Research.

06 Oct 2021

Social News XYZ | Telugu stop | Smallnews | CanIndia | IND Forums

Acuite Ratings & Research Chief Analytical Officer Suman Chowdhury said: "Unlike most developed and peer nations, the headline CPI inflation in India has moderated in Jul-Aug'21 due to lower food inflation and the short term outlook on inflation remains benign."

04 Oct 2021

The Hindu BusinessLine

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research, said: "Acuité believes, in line with market expectations, that Reserve Bank of India will continue with its accommodative monetary policy in October although it is likely that it may take some further steps to recalibrate the excess liquidity in the monetary system over the next one to two quarters.”

02 Oct 2021

The Economic Times

"The sharp improvement in credit ratio reflects the steady recovery in the economic environment post the disruption from the pandemic," said Suman Chowdhury, chief analytical officer, Acuite Ratings 

29 Sep 2021

Business Standard | The Economic Times

"We will maintain full independence in determining which factors may be material to its ratings criteria,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings. A comprehensive issuer ESG analysis can be considered an important input to a rating exercise.”

26 Sep 2021

Livemint

"Overall, the first advance estimate of kharif crop is broadly in line with the sowing acreage which has been just 1% below last year’s level and will support the recovery in rural incomes in the post pandemic environment apart from moderating food inflation and thereby, headline CPI inflation, said Acuite Ratings and Research.

16 Sep 2021

Economictimes

The number of upgrades has increased by 2.4 times in the April-August 2021 period as against April-August 2020 and the downgrades have almost reduced by 40%. Further, the number of upgrades during this five-month period is almost similar to that in the pre-Covid year while the number of downgrades has almost halved from those levels, according to Acuite Ratings.

13 Sep 2021

The Hindu BusinessLine

"India’s Industrial Production (IIP) expanded by 11.5 per cent YoY in July as unlock measures lead to further normalisation, thereby helping industrial output to recoup its lost momentum. Sequentially, the IIP print grew for the second consecutive month by 7.2 per cent in July from 5.7 per cent in June. The improvement is in conjunction with a pick-up seen in high frequency indicators such as exports, E-way bills, PMI manufacturing and auto production for the month of July,” said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research.

09 Sep 2021

Business Standard | The Hindu Businessline | Moneycontrol | Free Press Journal | Socialnews XYZ | Daijiworld | Sarkaritel | SME Times | WebIndia123

As per Acuite, the number of credit upgrades by all the CRAs in April-August period of current year stood at 1,380, far higher or more than 571 in the five month period of last year and close to pre pandemic level of 1,399 reported in April-August period of FY20. Similarly, credit downgrades have fallen from 1,015 last year to 601 in five months of current fiscal.

06 Sep 2021

Business Standard | The Economic Times | ET Auto | Sify | The Weekend Leader | Webindia123 | The Statesman | Lokmat | Fresherslive

"Acuite believes that India's forex reserves have adequate cushion to handle the currency volatility that can arise during a possible taper down of the bond purchases by the developed economies over the next one year," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

06 Sep 2021

The Hindu BusinessLine

Acuité's comments on Q1 FY22 GDP impact analysis report covered exclusively by Hindu Business Line

03 Sep 2021

IANS Live | Bhaskar Live | Sarkaritel | Socialnews XYZ | Webindia123 | CanIndia | Andhram | Buziness Bytes

"While the increase in SDR allocation further boosts the existing foreign exchange reserves for India, it has already been in a comfortable position and can cover over 15 months of imports, taking the average monthly import bill for the last 5 years,” Acuite Ratings & Research Chief Analytical Officer Suman Chowdhury said.

01 Sep 2021

Bloombergquint | Outlookindia | The Week | Sarkaritel | Web Statetimes | Bhaskarlive | Lokmat | Devdiscourse | Stock Infinities | Fresherslive | WebIndia123 | Socialnews XYZ

Acuite Ratings & Research’s Chief Analytical Officer Suman Chowdhury said: "Acuite continues to maintain a tone of cautious optimism for the remainder of FY22 with the economy expected to be provided momentum by the approaching festive season, accommodative fiscal and monetary policy backdrop, vaccination progress along with better global growth outlook which will continue to be favourable for exports.”

31 Aug 2021

The Economic Times |  Business Standard

According to an SBI research report, the GDP is expected to grow at around 18.5 per cent in the first quarter of the current financial year. This estimate is lower than the Reserve Bank of India's GDP growth projection of 21.4 per cent for the April-June quarter. Meanwhile, Acuite Ratings pegs GDP growth at 22-23 per cent for Q1 on the back of a severe contraction a year ago and recovery in economic activities towards the end of the quarter. Any disappointment on the growth front could send markets in a tailspin.

30 Aug 2021

The Indian Express

Suman Chowdhury, chief analytical officer, Acuite Ratings & Research, said FPI sales can be attributed largely to increased concerns on the taper down of bond purchases by the US Fed which are expected to commence by the end of the calendar year and normalise the excess liquidity in the global asset markets. However, the markets have been relatively stable due to steady purchases by DIIs and domestic retail investors as the accommodative policy stance of the RBI has ensured ample liquidity in the system.

28 Aug 2021

Business Standard | Freepressjournal | Sify | Can India | Lokmat | Knowledia | Daijiworld | The Weekend Leader | Sarkaritel | News Karnataka | SME Times | Socialnews XYZ | Fresherslive | Bhaskarlive | IND Forums | Andhram

"The growth print is likely to be supported by the relative resilience of the industrial sector in this phase of the pandemic, steady uptick in exports and improved government capital expenditure levels apart from the base factor,” said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

28 Aug 2021

The Times of India

27 Aug 2021

Business Standard

Suman Chowdhury, chief analytical officer, Acuité ratings & Research, said Q1FY22 enjoys strong support from a favourable base from last year’s near-complete nationwide lockdown. It had led to a massive 24.4 per cent (YoY ) contraction in Q1FY21 GDP of India.

17 Aug 2021

SME Times | Siasat | NetIndian | Daijiworld | Lokmat | Buzinessbytes | Fast Kashmir | Webindia123 | Fresherslive | HYD News

In addition, Acuite Ratings & Research Chief Analytical Officer Suman Chowdhury said: "This is in line with the trajectory of CPI inflation which has moderated to 5.59 per cent in July 2021 from 6.26 per cent in June 2021 reflects the easing of supply constraints due to the unlocking measures steadily undertaken by the state governments.”

16 Aug 2021

Livemint | India News Republic | Devdiscourse | MyDroll

Acuite Ratings & Research Limited opined that policy normalisation will begin in a gradual fashion with comfort on vaccination, clarity on fiscal stance, and global rates setting. The agency called the increase in the quantum of variable reverse repo auctions as the first small step towards the same objective.

16 Aug 2021

National Herald

"Clearly, the larger concern is the impact of consistently high food inflation on core inflation through cost push factors; the relatively high figure for transport and communication is a reflection of high tax driven fuel prices and increase in telecom tariffs," said Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research.

16 Aug 2021

Pehalnews

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research:

"The IIP print for Jun-21 at 13.6 per cent YoY reflected an even better performance than the core sector which had reported an 8.9 per cent YoY growth and indicates that the key industrial sectors are witnessing a gradual output recovery after the taper down of the second wave of Covid. The overall index has also shown a particularly sharp 5.7 per cent sequential rise as compared to May-21.

While the risks of a third wave still persist, steady progress in vaccination has raised hopes for a steady rebound of the IIP trajectory from Q2FY22.”

10 Aug 2021

The Hindu BusinessLine

The expanded scope of Variable Rate Reverse Repo (VRRR) auctions for temporary absorption of liquidity surplus could act as a precursor for monetary policy normalisation, according to Acuite Ratings & Research.

09 Aug 2021

BloombergQuint

06 Aug 2021

Moneycontrol | Financial Express | Indiainfoline | NDTV | Newonnews

There is a consensus in the markets that MPC will continue with its accommodative monetary policy given the continuing uncertainty on the growth momentum and the threat of another wave of the Covid pandemic. We don’t expect any action on interest rates or any major step towards recalibration of systemic liquidity at this point in time. Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research

06 Aug 2021

The Hindu BusinessLine | Financial Express | India TV | New Kerala

There is a consensus in the markets that MPC will continue with its accommodative monetary policy given the continuing uncertainty on the growth momentum and the threat of another wave of the Covid pandemic. We don’t expect any action on interest rates or any major step towards recalibration of systemic liquidity at this point in time. Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research

05 Aug 2021

The Week | Financial Express | Nagalandpost | Orissapost | Daijiworld | Lokmat | Punjab News Express | Fresherslive | Social News XYZ | Bhaskarlive | SME Times | New Kerala | Andhram | IANS Live | Buzinessbytes | IND Forums | Aaj Ki Taaza News | Business Journal | Newsdeal | Current News Bulletin

"We don’t expect any action on interest rates or any major step towards recalibration of systemic liquidity at this point in time,” said Suman Chowdhury, Chief Analytical Officer at Acuite Ratings and Research.

02 Aug 2021

BSE Forum

26 Jul 2021

Economictimes | ET CFO | The Greater India | Pehal News | Pedfire | The Hindu Times | Filter News | Samacharcentral | My Droll | Newstesla | News Concerns | Jioforme | Indianews Finance | Market Shockers | You Startups | PKNews10 | Newsbit | Newsotime | Bahamas | Elsalvador | IQ Stock Market | Christmasisland | Kenya News | The Daily Check | Hungary Bpositivenow | Albitross | Digitpatrox

"With vaccination drive gathering momentum, the pattern in the direction of normalisation is prone to additionally catch on involved intensive sectors,” mentioned Suman Chowdhury, chief analytical officer, Acuite Scores. "The speed of upgrades rose on the sharpest tempo since outbreak of the pandemic final 12 months.”

20 Jul 2021

Freepressjournal | Latestly | Daily Pioneer | Sify | Daijiworld | Punjabnewsexpress | Investment Guru India | Webindia123 | Socialnews XYZ | New Kerala | SME Times | Buzinessbytes | India Narrative | IND Forum | The Rahnuma | Shafaqna

India's FY22 YoY current account deficit is expected to widen, Acuite Ratings & Research said. It estimates approximately $30 billion deficit vis-a-vis $26 billion estimate in FY21.

15 Jul 2021

Sify | Fresherslive | MENAFN | Webindia123 | IND Forums | CanIndia | Socialnews XYZ | Jhalak

"Clearly, the steady pass-through of increased costs in manufactured products has spillover risks to CPI inflation in the near term," Acuite Ratings & Research's Chief Analytical Officer, Suman Chowdhury, said.

10 Jul 2021

Economic Times | Business Today | ET Auto | ET BFSI | Zeebiz | Dailypioneer | Sify | DTNext | Free Press Journal | Goodreturns | Telanganatoday | Nagalandpost | Daijiworld | The Weekend Leader | Lokmat | MSN | India News Republic | Webindia123 | News wwc | Socialnews XYZ | Fresherslive | MENAFN | SMEStreet | SME Times | TechGenyz | Tricks Blog | Bizzbuzz | Andhravilas | Weeklyvoice | Jioforme | New Kerala | IND Forums | Alopan | Newsbit | Deccan News | IndiaInfoline | Astralpole | Journal Beat | Aaj ka Samachar | BankNewsNow.com | Obligationfinance | TimeIsNow | InvestKal | Teamlease | Correct Success | Bahikhata News | Salesground

A report by Acuite Ratings said that collection efficiencies which were seen recovering above 90 per cent in Mar-21 have dropped to between 65-85 per cent levels during Q1FY22.

09 Jul 2021

Business Standard | Outlook India | Financial Express | Zeebiz | Latestly | Business Journal | Devdiscourse | Trendlyne | Flipboard | Journal Beat | Shafaqna | Elsalvador | Bollywood Slot | Yahoo! news | Asiannews | IQ Stock Market

''Analysis of MFIs and smaller NBFCs rated by Acuité indicates that the collection efficiencies which were seen recovering above 90 per cent in March 2021 have dropped to between 65-85 per cent levels during Q1FY22,'' it said.

08 Jul 2021

NDTV | Upright Media | DiscountSutra | Scoop Blogs | Khabaradda

"After closing at its strongest level since the beginning of the pandemic at 72.61 in May-21, the rupee has been on a weak turf in the month of Jun-21. The recent weakness in INR appears to be in sync with strengthening bias creeping in for the USD, which seems to have received a shot in the arm post Federal Reserve's Jun-21 monetary policy review,'' said Suman Chowdhury, Chief Analytical Officer, Acuité Ratings and Research.

07 Jul 2021

Nagaland Post | Daijiworld | Fresherslive | Morung Express | MENAFN | Socialnews XYZ | IND Forums | Jhalak | We For News

Acuite Ratings & Research Chief Analytical Officer Suman Chowdhury said selective access to contact intensive services based on vaccination would be a prudent measure.

30 Jun 2021

Sify | Andhram | Daijiworld | India Narrative | Ommcom News | Webindia123 | Fresherslive | Jakeranews | Bhaskarlive | Socialnews XYZ | Techgenyz | IND Forums | CanIndia | MENAFN | Jhalak

"The sustainability of the pent-up demand, however, will clearly depend on the likelihood and severity of the third wave and importantly, the speed of vaccination in the country over the next few months," said Suman Chowdhury, Chief Analytical Officer at Acuite Ratings and Research.

29 Jun 2021

Moneycontrol | Sify | Lokmat | The Siasat Daily | Daijiworld Media | Kerala Kaumudi | DT Next | Sarkaritel.com | Kalinga TV | WebIndia123 | Fresherslive | SME Times | IND Forums | Social News XYZ | CanIndia | We For News

Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research said: "The other significant measure from the government is a credit guarantee scheme for the MFI sector which has also been particularly impacted by the second wave of Covid.”

26 Jun 2021

India Today

"The upward trajectory in CPI inflation may moderate over the next few months with the tapering of lockdown restrictions and [the consequent easing of] supply constraints,” says Suman Chowdhury, chief analytical officer, Acuité Ratings & Research.

22 Jun 2021

The Economic Times | The Financial Express | Business Standard | CNBC TV18 | Moneycontrol | Freepressjournal | Outlook India | Yahoo Finance | BW Businessworld | Dailypioneer | Udayavani | Jioforme | IQ Stock Market | Devdiscourse | The Plunge Daily | Marketshockers | Merca Express

 Pandemic-hit FY21 has turned out to be a good year for the big cement companies, as their net profits surged and market position strengthened, a report said. The net profits of 10 major listed cement companies surged by 29.6 per cent on an average in FY21, although aggregate revenues grew modestly by 3.8 per cent, according to an analysis undertaken by Acuite Ratings.

  

20 Jun 2021

The National News | Kapi News

"We don’t see any speedy response from RBI on the inflation entrance given the precedence accorded to the revival of the expansion impulses,” Suman Chowdhury, chief analytical officer at Acuité Scores and Analysis, says.

15 Jun 2021

The Week

Suman Chowdhury, chief analytical officer at Acuite Ratings and Research, feels that the upward trajectory in consumer inflation may moderate in the next few months, as easing of lockdown restrictions across states will iron out supply constraints and the timely arrival of the monsoon will also have a favourable impact on vegetables and overall food prices. So, he doesn’t see any immediate response from the RBI on the inflation front.

"However, the government may need to take suitable measures to control inflation of food products such as edible oils and pulses as well as retail fuels to mitigate any longer-term structural risks to inflation,” said Chowdhury.

14 Jun 2021

Lokmat | IANS Live | Daijiworld | Fresherslive | CanIndia | India Narrative | Webindia123 | Social News XYZ | MENAFN | Bhaskar Live | IND Forums | We For News | Sambhav Khabar

"Some categories in the food basket such as meat and fish, edible oil, fruits and pulses continue to show high inflation, both on a YOY and sequential basis, reflecting structural supply bottlenecks that might have got further aggravated by the fresh disruption brought in by the second Covid wave," Acuite Ratings and Research's Chief Analytical Officer Suman Chowdhury said.

11 Jun 2021

NDTV | Pehal News | The Vom News | Upright Media | News Cerca

Suman Chowdhury, Chief Analytical Officer, Acuité Ratings & Research:

”…The general IIP in April 2021 has witnessed a barely optimistic progress of 0.1 per cent though the manufacturing sector has contracted by 0.9 per cent vis-à-vis April 2019…..Undoubtedly, the nascent momentum in IIP seen over Q3/This autumn of FY21 has obtained a setback in April-May however a speedy taper down of the every day an infection numbers and the urgency round vaccination, have raised hopes for a fast rebound of the IIP trajectory.

”While nearly all of the segments underneath the manufacturing sector have been affected initially by the financial slowdown and thereafter by the pandemic, it’s attention-grabbing to notice that the metals section has recorded a progress of 15.1 per cent over a two-year interval.”

07 Jun 2021

The Economic Times | Mint | Outlook India | Bhaskar Live | NDTV | Devdiscourse | Sify | Indian Lekhak | Business Journals | International Business Times | Vocalink | Pehal News | The Press Reporter | Earnax | News Matters

Acuite Scores & Analysis Chief Analytical Officer Suman Chowdhury mentioned the Reserve Financial institution has taken observe of the upside dangers to inflation in a state of affairs of upper commodity costs and re-emergence of upper provide constraints amid lockdowns however continues to challenge benign inflationary figures for the following few quarters.

04 Jun 2021

Economictimes | Marketshockers | Business Journal | The Greater India | Pehalnews | Universal Personality | NewIndialife | Newonnews | Urallnews | Newswale | Aajka Samachar

"We will closely monitor the loan delinquency levels for our rated clients in the sector and assess the impact on credit quality given the uncertainty in the operating environment,” stated Suman Chowdhury, chief analytical officer at Acuite Ratings.

04 Jun 2021

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In addition, Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research, there is a need to pursue a similar monetary and fiscal policy framework over the next two-three quarters till the impact of the second Covid wave tapers-off.

"We expect the policy stance to remain unequivocally accommodative throughout the current financial year. While there is virtually no scope for a further cut in interest rates given the increased commodity prices... the status quo on rates is likely to continue for a longer time possibly till the end of FY22," Chowdhury said.

03 Jun 2021

The Indian Express | CNBCTV18 | Report Wire | Global Circulate

Suman Chowdhury, chief analytical officer, Acuité Ratings, said the current focus of the MPC is to support the fragile economy and the financial system from the damage inflicted by the second wave of Covid and to bring it back again on a healthy recovery path over the next few quarters. "We expect the policy stance to remain unequivocally accommodative throughout the current financial year. While there is virtually no scope for a further cut in interest rates given the increased commodity prices and the rising WPI, the status quo on rates is likely to continue for a longer time possibly till the end of FY22. Despite the risks of a build-up of inflationary pressures in the near term, the RBI is likely to give higher priority to the concerns around growth recovery,” he said.

02 Jun 2021

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Acuite Ratings & Research's Chief Analytical Officer Suman Chowdhury said: "The sequential trajectory in auto sector sales is on a substantial decline in the face of the second Covid wave. Since a large number of states in India had imposed fairly strict lockdowns to contain the threatening rise in infections and mortalities, auto dealerships were either closed or partially operated during the month."

01 Jun 2021

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Suman Chowdhury, Chief Analytical Officer at Acuité Ratings & Research: "However, what catches our attention is the quarterly GVA printing for the fourth quarter of fiscal year 21. The manufacturing sector registered a year-on-year growth of 6.9% in the fourth quarter which, despite the impact of the base factor , highlights the rebound in industrial activity. In addition, the construction sector has registered a growth of 14.5% year-over-year which, in our opinion, indicates the effect of government capital spending. What is pleasantly surprising is that financial, real estate and other services also posted healthy growth of 5.4% in the fourth quarter of fiscal 21. "

30 May 2021

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According to Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research: "There is a forecast of a timely and adequate monsoon in the current year which we expect will help to maintain healthy agricultural growth in FY22. While the spread of Covid 2.0 in rural areas may impact the agricultural sector, the extent will depend on the duration of the pandemic wave."

04 Jun 2021

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"We will closely monitor the loan delinquency levels for our rated clients in the sector and assess the impact on credit quality given the uncertainty in the operating environment,” stated Suman Chowdhury, chief analytical officer at Acuite Ratings.

19 May 2021

The Hindu BusinessLine

16 May 2021

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Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research, said: "Overall, the merchandise trade deficit at $15.1 billion shows a steady normalisation in external trade since December 2020. The performance of the external sector has been relatively better in April 2021 compared to the domestic demand given the slowdown in the nascent growth momentum aggravated by the highly intense Covid 2.0 wave.

"However, the sustainability of such a healthy trade trajectory will need to be seen with the stricter imposition of lockdown by several states in May 2021.”

14 May 2021

Business Standard | NewsPolo | International Business Times

Acuite Ratings and Research has said while the industry was in a gradual recovery phase from Q3FY21 — through an improvement in delinquencies and disbursements — the second wave has started to disrupt that nascent recovery.

14 May 2021

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12 May 2021

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According to Acuite Rating and Research, the central bank's recent announcements on the special long-term repo operation or SLTRO of ₹ 10,000 crore for the small finance banks will ensure higher direct disbursements to microfinance borrowers and better funding access for smaller MFI with asset size less than ₹ 500 crore.

11 May 2021

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The Reserve Bank of India’s (RBI) move to classify loans by small finance banks (SFBs) to certain microfinance lenders as priority sector is expected to boost lending by about ₹2,000-3,000 crore, said Acuite Ratings and Research.

06 May 2021

The Financial Express | The Week | Outlook India | Businessworld | Yahoo Finance | Devdiscourse

Acuité Ratings & Research Chief Analytical Officer Suman Chowdhury said the RBI's measures will support the availability of credit to the healthcare sector, which needs to ramp up significantly to addresstheCOVID2.0 challenges. Secondly, the restructuring option has been extended till September 2021 for retail and MSME borrowers with loans up to Rs 25 crore.

05 May 2021

Forbes India | The Financial Express

Suman Chowdhury, chief analytical officer, Acuité Ratings & Research, tells Forbes India this was a form of "optional moratorium” where banks were allowed to decide on whether fresh restructuring would be required or not.

30 Apr 2021

Moneycontrol.com | Flipboard

The revival of the MSME sector, which contributes significantly to the country’s GDP and employs close to 100 million people is a priority amid the turbulence unleashed by the pandemic. The ecosystem entrusted with this sector’s growth is actioning necessary steps to bring it back on track. Mridu Bhandari from CNBC-TV18 gets into a candid conversation with Manish Jain, Managing Director & Co-Head, Corporate Commercial & Institutional Banking, India, Standard Chartered Bank, Ajay Thakur, Head of BSE SME & Start-ups and Sankar Chakraborti, CEO, Acuite SMERA Group.