This was despite China ramping up production of refined copper after the Winter Olympics ended on February 20. Then Covid-19 cases reappeared in China, stoking both demand and supply fears.
International coal prices have also increased due to various factors, including Russia-Ukraine war, weather disruptions in the key mining areas of Australia and Indonesia's ban on coal exports.
“Companies were unable to fully pass on soaring input cost, especially prices of key metals and energy,” said Hetal Gandhi, director, Crisil Research.
In the last one week, the fuel retailers have increased cumulatively Rs 2.40 in the country.
Petrol in Delhi will now cost Rs 97.01 per litre as against Rs 96.21 previously while diesel rate has gone up from Rs 87.47 per litre to Rs 88.27, according to a price notification of state fuel retai
The mix of the capex budgeted for FY23 favours employment, the report said, noting the focus on roads and highways and railways sectors.
SBI group chief economist Soumya Kanti Ghosh also believes the time is “appropriate” for a 20 bps hike in reverse repo, but feels that could happen outside the MPC.
The agency said global growth is expected to slow this year as major economies see a withdrawal of monetary and fiscal stimulus.
In fact, domestic traffic is down by 25 percent from the highs of December 2021 in the first week of January 2022 itself.
Rating agency Crisil estimates that earnings before interest, taxes, depreciation and amortisation (EBITDA) margins likely dropped 100-120 basis points (bps) year-on-year.
The rise in price has been attributed to inputs commodity cost pressure such as coal and diesel supported by rising demand.
White goods include washing machines, televisions, refrigerator and air conditioners while consumer electronics include fans, small kitchen and cooking appliances, and lighting products among others.
Prices have risen 142 per cent as on November 25 and will remain elevated for two more months till harvest from Madhya Pradesh and Rajasthan starts.
It can be noted that the commentary from the leading credit rating agency comes amid concerns raised over low recoveries of about 5 per cent in recent high-value cases.
SpiceJet reported a net loss of Rs 934.8 crore and Rs 998.3 crore in 2019-20 and 2020-21, respectively.