"The imposition of basic customs duty (BCD) on solar cells and modules with effect from April 1, 2022 will lead to an increase in solar tariffs on account of a rise in the overall project costs," Ind-Ra said.
Accordingly, the ratings agency's estimates showed that after recording negative growth during 9MFY21, GDP growth will finally turn positive at 0.3 per cent YoY in 4QFY21.
"The wholesale NBFCs that have been using structuring to fund land acquisitions have generally been averse to funding land acquisitions over the last couple of years.
Accordingly, the report cited a YoY volume growth of 0.3 per cent, price growth of 5 per cent and products launches at 3.1 per cent during December 2020.
As per the report, record exports and a resilient domestic demand made sugar one of the few sectors to witness strong revenue growth in the Covid-19 affected in 1HFY21.
"Such companies are likely to have reduced cost of steel production by around Rs 1,800 per tonne YoY in 2HFY21, supported by the reduced cost of coking coal per tonne of around Rs 7,300," Ind-Ra said in a report.