According to Standard & Poor's index services monthly global stock market review, global equity markets after three months of consecutive gains declined 0.58 per cent in June with emerging markets giving negative returns of 1.45 per cent. Indian stock markets gave the highest returns of as much as 60.6 per cent in the three months period between April to June, despite witnessing a loss of 2.17 per cent in the month of June.
After revising the sovereign outlook for India from stable to negative, Standard & Poor's Director for Sovereign and International Public Finance ratings Takahira Ogawa says the fiscal position holds the key to future course of action.
According to rating agency Standard & Poor's, about 46 global equity markets lost a combined $17 trillion, as emerging market indices fell 54.72 per cent and developed markets dropped 42.72 per cent for the year. However, the equity markets somewhat rebounded in December last year with 19 of the 21 emerging markets and 22 of the 25 developed markets posting gains during the month, S&P added.
"This will definitely send negative signals to the investor community in the near term. There will be widespread impact on the sentiments. However, over a period of time, the confidence will be restored in the market," Global rating agency Standard & Poor's Region Head Ravi Mohan told PTI.
S&P, which holds 51.4 per cent in Crisil, named Roopa Kudva as the region head for South Asia. Kudva would be part of S&P's Asia-Pacific executive committee, the agency said in a statement. She would continue as the managing director and CEO of Crisil.
Global rating agency Standard & Poor's on Friday reaffirmed investment grade ratings 'BBB-'long-term and 'A-3' short-term on India, saying the country's economic growth prospects and debt markets are strong. The 'BBB' rating category means an entity has adequate capacity to meet its financial commitments in the long-term.
Global rating agency Standard & Poor's on Tuesday said tight monetary policy to tame rising inflation will slow down India's growth a bit to 7.5-8 per cent in 2008 and expressed concern about the worsening fiscal situation.
The 'S&P India 10 index' is designed to address this accessibility challenge. It offers investors liquidity and investability, and can also serve as a basis upon which to create investment products," Vice President of Portfolio Services for S&P Steven Goldin said.
Auto majors have introduced a range of petrol engines for compact cars that comply with the Euro-V norms and are meant for the export markets. This enables them to prepare for the stringent emission norms to be introduced in the country. While the latest compact cars manufactured in India are Euro-V compliant, the latest petrol car engines are highly fuel efficient.
Describing its choice as a "vote for the future", a distinguished four-member jury selected State Bank of India (SBI) Chairman Om Prakash Bhatt as Business Standard's Banker of the Year for 2006-07.
The market for Shariah funds is set to grow with Benchmark Mutual Fund launching the first-ever Shariah Benchmark Exchange-traded scheme in India. It's an open-ended listed index scheme.
Find out which financial instruments will protect you from bear market volatility.
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The rupee had slumped to a record low of 59.9850 rupee to the dollar on Thursday, as the country's record high current account deficit is exacerbating its vulnerability in an emerging market rout.
China will lead Asia-Pacific sovereigns in economic growth in 2008, followed by India, Standard & Poor's Ratings Services said. Though Japan is still the largest economy in the region, China' growth could position the country as the biggest economy in Asia-Pacific and the second-largest globally within the next five years.
Obtaining reliable information is the essence of a sound investment strategy and one of the most reliable suppliers of financial information in India is CRISIL or the Credit Rating and Information Services of India Limited.
The corporate credit rating with a positive outlook, BBB, is higher than India's rating and "highlights the financial robustness of our business model and operating strengths of the company," TCS informed the Bombay Stock Exchange. According to S&P, the company has strong liquidity, with cash and bank deposits of Rs 1,230 crore (Rs 12.3 billion), about 9.4 per cent of total assets as on March 31, 2007.
Leading index provider Standard & Poor's on Thursday announced the launch of currency indices - Indian Rupee index and Chinese Renminbi index. Global investors would get access to the currencies of the two emerging economic superpowers, it will also serve as a reliable and relative benchmark for currency performance. The indices will replicate the performance of the Chinese Renminbi & the Indian Rupee versus the US Dollar. The indices will also have an excess return version.
S&P updates this screen on a semiannual basis, during February and again in August.
An S&P stock screen identifies the 10 best-performing stocks during a month that saw unprecedented market turmoil
Following it negotiations with Ford Motors for the aquisition of Jaguar and Land Rover, Tata Motors has been put under credit watch.
Global rating agency Standard & Poors (S&P) has said that despite the outlook for Indian corporates being stable, a negative bias persists with corporate entities pursuing rapid inorganic growth with leveraged buyouts and debt-supported expansion.
Credit rating agency Standard & Poor's has projected that India's consumer price increases are likely to come down next year because of monetary tightening by the central bank. In a quarterly assessment of the Asia-Pacific region, S&P has estimated that consumer prices will increase in the range of 5-5.5 per cent, down from this year's level of 8.5-9 per cent.
S&P Rating Services report said oil and gas companies would hold steady through 2007. However, there is a chance that the turmoil in the credit market may negatively affect ratings down the line.
Growth in India's gross domestic product for the June quarter of 2013-14, as well as for the entire 2014-15, was 4.7%.
Global credit rating agency Standard & Poor's has indicated that Indian stock markets are overvalued currently, recommending underweighing of the markets next year.
The eight Indian companies are part of S&P's list of 300 mid-size companies across 37 countries in the latest S&P Global Challengers List.
Global rating agency Standard & Poor's on Wednesday upgraded India's outlook to positive from stable and affirmed the sovereign 'BB+/B' ratings to the country due to improvement in government finances.
British telecom giant Vodafone could face a downgrade in its credit rating by Standard and Poor's if its proposed bid for Hutchison Essar Ltd exceeds $19 billion, a media report said in London.
'Some funds may be redirected towards "safe" countries'
Global ratings agency Standard & Poor's has also raised India's sovereign credit rating to investment grade after a gap of nearly 16 years.
The ratings reflected the growing strength of India's macro-economic stability, Finance Minister P Chidambaram said.
The official said the finance ministry will impress upon rating agencies the resolve of the government to contain fiscal deficit at 4.1 per cent this year and lower it to 3 per cent by 2016-17.
Global rating agency Standard & Poor's said on Thursday United Western Bank's huge bad loans may affect IDBI's financial profile negatively.
Global rating agency Standard & Poor's on Tuesday said Indian banks were financially stronger than Chinese banks although some of the China-based banks have higher credit ratings.
The central bank will come out with fresh set of guidelines for companies applying for on-tap bank licence
Global credit rating agency Standard & Poor's on Thursday said India's economic growth may fall marginally to 7.5-8 per cent, but inflation outlook remained stable at 5-5.5 per cent in 2007.
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