Homevideos Newsearnings News

    CARE Ratings expects economy to pick up July onwards, says MD & CEO Ajay Mahajan

    videos | IST

    CARE Ratings expects economy to pick up July onwards, says MD & CEO Ajay Mahajan

    Mini

    CARE Ratings expects the economy to pick up July onwards, Ajay Mahajan, MD & CEO, told CNBC-TV18.

    CARE Ratings expects the economy to pick up July onwards, Ajay Mahajan, MD & CEO, told CNBC-TV18.
    The credit rating agency reported earnings for the March-ended quarter. It managed to lower expenditure, though rating business was flattish in FY21 on account of COVID.
    Mahajan also added that the company’s business is directly linked to credit growth in the economy. Credit to industry grew only 0.55 percent last year.
    “We were hopeful of a better FY22 until the COVID wave struck. We still remain reasonably hopeful and optimistic that post-July-August, the economy will pick up and we believe that in certain sectors- particularly metals and construction, we would see an upswing, going forward,” Mahajan said.
    On business, he said, “We are doing our best to improve our rankings, rating quality and improve our market share in ratings. We are also working hard to build revenue diversification through our risk solution business and advisory businesses, which have posted a robust Q4 for FY22, although the numbers in comparison to ratings are small.”
    For the entire interview, watch the video.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng