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ICRA Research is based on our analysts' insights, gained from rating corporates and financial sector entities. The research reports are tailored to meet the requirements of banks, mutual funds, insurance companies, PEs or venture funds and corporates.

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Special Comments

Date	Sector	Reports	Category	Price
05 Oct 2026	State Government Finance	With increase in adoption of BIS to 26 states, actual SGS issuance in Q3 could be close the indicated level	Thematic Report	--
01 Oct 2026	State Government Finance	Implementation of proposed hike in WMA and SDF limits, dip in OD days and changes in CSF/GRF to nudge better fiscal management by states	Thematic Report	--
01 Oct 2026	Economic Outlook & Macro Trends	Sub-par monsoon, low reservoir storage to weigh on rabi sowing; outlook for rural demand remains circumspect	Thematic Report	--
30 Sep 2026	Economic Outlook & Macro Trends	Fiscal deficit rose to Rs. 7.1 trillion in 5M FY2027; may overshoot FY2027 target by Rs. 1.3-1.4 trillion, unless matched by expenditure savings	Monthly Update	--
28 Sep 2026	Airlines	Domestic air passenger traffic declined YoY in August 2026, albeit improved sequentially	Monthly Update	--
28 Sep 2026	Economic Outlook & Macro Trends	IIP growth printed at stronger-than-expected 8.0% in August 2026; robust expansion in July-August to support Q2 GDP number	Monthly Update	--
23 Sep 2026	Refining & Marketing	Elevated crude prices weaken marketing margins of OMCs	Thematic Report	--
22 Sep 2026	Economic Outlook & Macro Trends	Growth in economic activity eased marginally in August 2026; late onset of inauspicious period, weak rains may support growth in September	Monthly Update	--
16 Sep 2026	Economic Outlook & Macro Trends	India’s goods trade deficit cooled in August 2026; expect CAD to print at ~1.5% of GDP in Q2 FY2027	Monthly Update	--
14 Sep 2026	Economic Outlook & Macro Trends	WPI inflation expectedly stayed elevated at 9.9% in August 2026; likely to print in double digits in September-October 2026	Monthly Update	--
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Credit Perspective Reports

ICRA's 'Credit Perspectives' provide detailed analysis on ratings assigned. These reports broadly cover the following areas: Key rating considerations..

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Oriental Hotels Limited
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Rating Rationales

Date	Category	Report
05 Oct 2026	Financial Sector Rating	State Bank of India; Ratings reaffirmed and withdrawn for matured instruments
05 Oct 2026	Corporate Debt Rating	Higher Education Financing Agency: Rating reaffirmed
05 Oct 2026	Corporate Debt Rating	Ozone Homes Private Limited: Continues to remain under issuer Non-cooperating category
05 Oct 2026	Structured Finance Rating	Farmart Service Private Limited: Rating confirmed as final for PTCs issued under a trade receivables securitisation transaction
05 Oct 2026	Corporate Debt Rating	Emami Agrotech Limited: Long-term rating reaffirmed; short-term rating assigned; rated amount enhanced
05 Oct 2026	Corporate Debt Rating	Honer Prime Housing LLP: Rating reaffirmed
05 Oct 2026	Financial Sector Rating	Saarathi Finance and Credit Private Limited: Ratings reaffirmed
05 Oct 2026	Corporate Debt Rating	Karam Chand Thapar & Bros (Coal Sales) Ltd: [ICRA]A+(Stable)/[ICRA]A1+; assigned
05 Oct 2026	Corporate Debt Rating	Royal Castor Products Limited: Continues to remain under issuer Non-Cooperating category
05 Oct 2026	Structured Finance Rating	Respo Financial Capital Private Limited: Provisional [ICRA]A-(SO) assigned to PTCs backed by personal loan receivables issued by Horizon Trust 2026