WPI inflation fell to a 5-year low of 3.74 per cent while the retail inflation was at 7.8 per cent in August.
Ratings firm Fitch on Wednesday assigned a stable outlook to the Indian auto components sector in 2012 and said it is expected to perform well on the back of demand from original equipment manufacturers for localised content.
India is concerned that SEC might have influenced rating given to the country by Fitch.
Fitch has warned India's "weak public finances" will constrain higher growth in medium term.\n
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
The government has to take difficult decisions in the budget, which can include cutting subsidies to curb expenditure on items like fertilisers and also upping revenues.
Sales of diesel-powered utility vehicles have been declining in the past six months as the differential between petrol and diesel prices narrowed.
Moody's Investors Service on Friday warned that the rout in Adani Group shares could hurt the conglomerate's ability to raise capital, while its peer Fitch saw no immediate impact on its ratings. Adani Group's listed companies have lost over USD 100 billion in value in just over a week after short-seller Hindenburg Research's scathing report flagged concerns about the ports-to-energy conglomerate's debt levels and alleged stock manipulation, accounting fraud and the use of tax havens.
Slowing economic activities in China would result in excess capacities that could hit the overall demand-supply balance.
Despite a significant improvement in asset quality, the country's banking industry might see its bad assets inching up in the months ahead, particularly in retail segment, global rating agency Fitch said.Rising bad loan assets had prompted many banks to sell their sticky assets to asset reconstruction companies, in order to transfer the risk and clean up their balance sheets.
For India, Fitch Ratings has 'BBB-' rating.
The Reserve Bank of India on Friday raised the GDP growth projection for the current fiscal to 7 per cent from 6.5 per cent earlier on buoyant domestic demand and higher capacity utilisation in the manufacturing sector. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das, however, flagged protracted geopolitical turmoil and global economic fragmentation as risks to the growth outlook. The RBI kept interest rates unchanged at 6.5 per cent in Friday's monetary policy statement.
Fierce competition and rising capex will put pressure on most operators in 2017.
With a slew of new players entering the Indian small car market, segment leaders like Maruti Suzuki India and Hyundai Motor India will face challenge to their domination.
The global rating agency expects the economy to pick up in the next two financial years.
A stress test on 30 Indian banks, which account for 78 per cent of the banking system's assets, indicates that capital is protected for a majority of the banks. However, some weak banks would need to raise core capital to guard against the effects of the current downturn in the credit cycle, Fitch said in a statement.
India is expected to grow at 7.8 per cent in 2015, surpassing China's growth rate.
The agency, which has downgraded Asian auto majors like Toyota, Honda and Hyundai... said the current downturn will continue for the next three-four years and companies in the continent would look at delaying expansion projects and shutting down plants.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Fitch's rival S&P had threatened to downgrade the rating to junk status, calling for immediate course-correction.
A potential merger being discussed by Indian telecom major Bharti Airtel and South Africa's MTN could increase the net debt of the two firms by about $6.9 billion, global rating agency Fitch said.
Investors' wealth eroded by Rs 3.46 lakh crore on Wednesday as equity markets took a sharp tumble amid weak global trends and foreign fund outflows. The 30-share BSE Sensex fell by 676.53 points or 1.02 per cent to settle at 65,782.78. During the day, it plunged 1,027.63 points or 1.54 per cent to 65,431.68. In line with the weak trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 3,46,947.54 crore to Rs 3,03,33,258.69 crore.
An evident anti-incumbency trend against the Congress could mean an increasing likelihood of political pressure to limit expenditure cut-backs, it said.
The agency said announcements by Modi and Finance Minister Arun Jaitley after government formation 'signal a strong intention to pursue reforms'.
India on Friday made a strong pitch for a sovereign rating upgrade with Moody's and also questioned the parameters based on which the US-based agency accords ratings, sources said on Friday. Ahead of its annual review of the sovereign rating, Moody's Investors Service representatives met Indian government officials during which the officials highlighted the reforms and strong fundamentals of the Indian economy. A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
International rating agency Fitch said on Wednesday taht it expects to see increased investor interest in the Indian steel industry with steady balance sheet correction - a major issue confronting the sector.
Demand for passenger vehicles, which has been on a downhill so far this year, will continue to remain sluggish through the first half of 2014 due to high interest rates which has weakened consumer sentiment, says a Fitch Ratings report.
For the consumer, there would be practically no impact on prices of essential medicines this year.
The performance of the Mumbai-based public sector bank may continue to lag behind its peers longer than expected due to the deterioration in its credit cycle, the agency said. Even though IDBI's non-performing asset ratios improved significantly after bad loans worth Rs 9,000 crore (Rs 90 billion) were transferred to a trust in FY04, the current economic slowdown could impact the bank's corporate loan portfolio.
Global rating agency Fitch said on Wednesday the credit profile of the Indian banking sector has improved in the recent years, but a great deal still needs to be done on disclosures.
While the sharp depreciation witnessed by the rupee in the past few months will only have a limited impact on the international ratings of Indian corporates, a further 10-15 per cent weakening of the currency could have a negative impact, according to Fitch.
The government allocated Rs 650 billion for petroleum subsidies in FY14, of which Rs 450 billion was used to pay oil marketing companies for the subsidy gap incurred in the previous financial year.
S&P Global Ratings on Thursday affirmed India's sovereign rating at 'BBB-' with a stable outlook and said sound economic fundamentals will underpin growth over the next 2-3 years. The stable outlook on the long-term rating reflects S&P's view that India's strong economy and healthy revenue growth will support its weak fiscal settings. "S&P Global Ratings affirmed its 'BBB-' long-term and 'A-3' short-term unsolicited foreign and local currency sovereign credit ratings on India.
Bajaj Finserv, ICICI Bank, Nestle, UltraTech Cement, Bajaj Finance, Maruti, Tata Consultancy Services, IndusInd Bank and State Bank of India were the major laggards. Infosys, JSW Steel, NTPC and Power Grid were the gainers.
In its report, 'Global Economic Outlook: December 2011', the agency said the Indian economy is likely to regain the 8 per cent economic growth trajectory only in 2013-14.
From the Sensex pack, Tata Steel declined 3.45 per cent, followed by Tata Motors which fell by 3.19 per cent. Bajaj Finserv, NTPC, JSW Steel, State Bank of India, Larsen & Toubro and Bharti Airtel were among the other major laggards. Nestle, Asian Paints, Hindustan Unilever and Tech Mahindra were the gainers.
Indian banks, which have strengthened their balance sheets, will trigger mergers and acquisitions to conform to stringent Basel II norms coming into effect in 2007.
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