India’s real GDP may decline by 10.9% in FY21: SBI economist

Mumbai: After a worse-than-expected 23.9 per cent decline in GDP in the June quarter, the top economist at State Bank of India expects a steeper decline in FY21 real GDP — again in the double digits. Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India, now expects FY21 real GDP growth to decline … Read more

Covid19 Impact: Lower execution likely to hit construction companies’ Q1 performance

MUMBAI: The performance of the 12 key Indian construction companies is likely to be impacted in the current financial year with a major hit in the June quarter due to the Covid-19 pandemic-related lockdowns, labour migration, supply chain disruptions and increased expenses, said rating agency ICRA.With lower execution, operating income and profits of construction companies … Read more

Covid a great opportunity for ARCs and stress funds: Edelweiss ARC

There will be more opportunities for the ARCs and stressed asset funds to do more deals and acquire more assets. They can provide last mile capital and there will be more acquisitions, says MD & CEO Rajkumar Bansal. We are getting reports that there has been a sharp recovery as far as your business is … Read more

IndiGo may report Rs 2,670 crore loss for June quarter, SpiceJet losses likely to be at Rs 1,000 crore: Report

Mumbai: Budget carrier IndiGo is expected to report a loss of Rs 2,670 crore for the June 2020 quarter, while its rival SpiceJet‘s losses during the quarter are likely to be at around Rs 1,000 crore, owing to operational disruptions and low fixed cost coverage, a report said on Wednesday. Regular operations of the domestic … Read more