Moody\u2019s Investors Service has upgraded the outlook for the Indian power sector from \u2018negative\u2019 to \u2018stable\u2019 as the country recorded the fifth consecutive month of power generation growth (on a year-on-year basis) in January, after six months of decline driven by coronavirus pandemic. In the first ten months of FY21, power generation growth declined 2.9% year-on-year, compared to the rating agency\u2019s earlier expectations of a 4-5% decline in FY21.<\/p>\n
\u201cWe do not expect any further material deterioration in the cash conversion cycle for the power companies from current levels, which also supports the change in outlook,\u201d Moody\u2019s said in a statement. Peak power demand has recently touched a new record of more than 1,85,000 mega-watt (MW), signalling a spurt in commercial and industrial activities as businesses go through a \u201creset\u201d phase after the lifting of lockdown curbs in recent months.<\/p>\n
\u201cOur expectations of a rebound in India\u2019s real GDP growth to 10.8% in FY22, after a sharp contraction in FY21, further underpins the potential for improving growth in power demand and a more stable picture for the sector,\u201d said Moody\u2019s.<\/p>\n","protected":false},"excerpt":{"rendered":"
Moody\u2019s Investors Service has upgraded the outlook for the Indian power sector from \u2018negative\u2019 to \u2018stable\u2019 as the country recorded the fifth consecutive month of power generation growth (on a year-on-year basis) in January, after six months of decline driven by coronavirus pandemic. In the first ten months of FY21, power generation growth declined 2.9% year-on-year, compared to the rating agency\u2019s earlier expectations of a 4-5% decline in FY21. \u201cWe do not expect any further material deterioration in the cash conversion cycle for the power companies from current levels, which also supports the change in outlook,\u201d Moody\u2019s said in a […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-399750","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/399750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=399750"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/399750\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=399750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=399750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=399750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}