In a release on Thursday, the agency also highlighted that the value of new business (VNB) margins may face short-term pressure due to the loss of input tax credit, following the GST exemption, before improving over the medium term ... .
Icra has sharply lowered its FY26 electricity demand growth forecast to 1.5–2% from 4–4.5%, citing the prolonged monsoon and a high base. Power demand fell 3% in early November, keeping overall growth flat in the first seven months ... .
India’s credit rating agency ICRA analysts noted that India’s solar module manufacturing sector is likely to consolidate within three to five years due to ...