ICRA An Affiliate of Moody's

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About Us

ICRA Limited is an Independent and professional investment information & Credit Rating Agency.
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ICRA Limited

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To be the preferred partner in providing best in class ...

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Ratings
Ratings

As an early entrant in the Credit Rating business, ICRA Limited (ICRA) is one of the most experienced Credit Rating
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Ratings Coverage

Corporate Debt Ratings

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Structured Finance Ratings

Infrastructure Sector Ratings

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Rating Rationales

Shriram Finance Limited: Rating upgraded, removed from Watch with Positive Implications and Stable outlook assigned 09 Apr 2026

Canpac Trends Pvt. Ltd.: Ratings reaffirmed; outlook revised to Positive; rated amount enhanced 09 Apr 2026

Luxmi Tea Company Private Limited: Ratings reaffirmed 09 Apr 2026
Research
ICRA Research

ICRA industry research provides unique research offering for 60+ sectors in India wherein 250+ Ratings analysts
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Research Offerings

Banking & Financial Services

Economy

Outlook

Corporate

Climate Series

Cross-sectoral trends & outlook

Structured Finance
Special Comments

Monthly Research Compendium 08 Apr 2026

Status quo and cautious tone in April 2026 policy amidst geopolitical uncertainty; extended pause seen 08 Apr 2026

Gross SGS issuance projected at Rs. 13.4-14.0 trillion in FY2027 06 Apr 2026
Most Trending Reports

Portfolio growth to remain healthy notwithstanding some moderation; managing asset quality will remain crucial 31 Mar 2026

ICRA's Outlook for FY2027 01 Apr 2026

RE capacity addition reached a record high in FY2026, but likely to moderate owing to delays in the augmentation of transmission infrastructure 30 Mar 2026
Credit Perspective
About Credit Perspective Reports

ICRA industry research provides unique research offering for 60+ sectors in India wherein 250+ Ratings analysts
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Special Comments

Monthly Research Compendium 08 Apr 2026

Status quo and cautious tone in April 2026 policy amidst geopolitical uncertainty; extended pause seen 08 Apr 2026

Gross SGS issuance projected at Rs. 13.4-14.0 trillion in FY2027 06 Apr 2026
Most Trending Research

Portfolio growth to remain healthy notwithstanding some moderation; managing asset quality will remain crucial 31 Mar 2026

ICRA's Outlook for FY2027 01 Apr 2026

RE capacity addition reached a record high in FY2026, but likely to moderate owing to delays in the augmentation of transmission infrastructure 30 Mar 2026
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Upcoming Webinars

Banking Outlook: Growth and Profitability in an Uncertain Geopolitical Environment 22 Apr 2026 04:00 PM
What's in the news?

Focus shifts to growth inflation balancing - Financial Express 09 April 2026

LPG LNG supply to ease gradually - Financial Express 09 April 2026

Indian refiners begin talks for cargo via Hormuz await shipping cos nod - Business Standard 09 April 2026
Contact Us

HDFC Securities Limited

Sector : Capital Markets Sub Sectors : Stockbroking & Allied

09 Apr 2026 HDFC Securities Limited: CPR-HDFC_Securities_Limited

Home Credit Perspective Reports HDFC Securities Limited

Entity-Specific Rating Rationales

18 Mar 2026

HDFC Securities Limited: Ratings reaffirmed

21 Mar 2025

HDFC Securities Limited: Ratings reaffirmed

27 Mar 2024

HDFC Securities Limited: Ratings reaffirmed; Rated amount enhanced

08 Aug 2023

HDFC Securities Limited: Ratings reaffirmed; Rated amount enhanced

Entity-Specific Credit Perspective Reports

09 Apr 2026

HDFC Securities Limited

HDFC Securities Limited (Non-SF)

17 Apr 2025

HDFC Securities Limited

HDFC Securities Limited (Non-SF)

28 Aug 2023

HDFC Securities Limited

HDFC Securities Limited (Non-SF)

Ratings

Description	Short Term	Medium Term	Long Term	Issuer
Commercial Paper	[ICRA]A1+	--	--	--
Long-term – Fund-based/Non-fund based – Others	--	--	[ICRA]AAA(Stable)	--
Unallocated Limits	*	--	--	--

Our Analysts

Analyst 1

Kruti Jagad

226114 3447
kruti.jagad@Icraindia.com

Analyst 2

Deep Inder Singh

+91 124 4545830
deep.singh@icraindia.com

Sector Head

Karthik Srinivasan

+91 22 61143444
karthiks@icraindia.com

Most Trending Research Reports

Rating Rationales

Webinars

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Banking Outlook: Growth and Profitability in an Uncertain Geopolitical Environment

Karthik Srinivasan,Anil Gupta,Sachin Sachdeva

22 Apr 2026 04:00 PM

Credit Quality Trends and ICRA’s Outlook for FY2027

Mr. K Ravichandran,Ms. Aditi Nayar,Mr. Pratik Singhania

01 Apr 2026 04:00 PM

Want to Listen

PPT

Road sector hits a slow lane as project awarding moderates

Mr. Suprio Banerjee,Mr. M Rajashekar Reddy

25 Feb 2026 04:00 PM

Want to Listen

PPT

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Podcast

New CPI and GDP Series | FY27 Growth and Inflation Outlook | ICRA Insight by Aditi Nayar

Mar 2026

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