Credit ratings agency Crisil on Tuesday said it expects to increase its rated portfolio in the small and medium enterprises (SME) segment by 10 folds in the next 3-4 years.
Indian firms have become more credit-worthy in the current fiscal on better profitability and funding access, rating agency Crisil said on Thursday.
The fast upward movement in the capital markets, which saw the Sensex touching 3-1/2 year high last week, was due for correction in the short term, credit rating agency Crisil said on Tuesday.
The Crisil study covered 600 companies excluding financial services and oil companies, representing 71 per cent of the overall market capitalisation of India Inc.
CRISIL reaffirms P1+ rating to Nahar CP.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
Crisil said a complete phase out of CST is necessary.
The rating agency has released the study on its ratings experience in the default and transition ratings of both short-term and structured securities in the country in the last 16 years. The data used for the study covers a period of weakened credit quality (1995-1999) as well as one of improving credit quality (2000-2007).
International rating agency Standard & Poor's has become the majority shareholder of Indian credit rating agency Crisil Ltd with 58.5 per cent stake, after it acquired 49.07 per cent shares during its recent open offer.
Mining conglomerate Vedanta Limited has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. "I am happy to let all of you know that we have received the 52 per cent plus the additional percentage, which is required for us to reach 75 per cent. "We have crossed that threshold as well. Most of the lenders have approved it," a senior Vedanta executive said in a recent bondholder conference call.
The government on Tuesday proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers.
The Credit Rating Information Services of India Ltd (Crisil) has reaffirmed its ratings of three different fund raising programmes of Tata Iron and Steel Company Ltd (Tisco).
Rating agency Crisil has revised downwards the Indian GDP growth forecast for FY09 to 8.1 per cent, from the earlier 8.5 per cent, in view of the high inflationary conditions, interest rate and global growth outlook.However, despite the growth deceleration, Crisil expects inflation to stabilise at an average 5.5 per cent in 2008-09 in a normal monsoon scenario, the agency said.
In line with other rating agencies and economic organisations, Crisil on Friday forecasted 7.1 per cent economic growth in the wake of an excellent monsoon, but warned that the fiscal deficit would overshoot the target besides lower export growth.
Preparing a 'vegetarian thali' got dearer by 34 per cent in July as compared to June because of the soaring tomato prices, an arm of a rating agency said in a report on Monday. A non-vegetarian thali was relatively less impacted and the price of preparing one went up by only 13 per cent, Crisil's 'Roti Rice Rate' report for August said. The inflation in the thalis is largely driven by the 233 per cent jump in tomato prices to Rs 110 per kilogramme in July from Rs 33 in June, the report said.
The prospective bidders of Haldiram Snacks Foods (HSFPL), a leading food firm, have sought clarity on the ownership of the brand as it is currently owned by different family factions. The Delhi and Nagpur families have decided to merge their operations and formed a joint venture to sell part of their stake. On the other hand, the Kolkata family runs its separate, independent operations. Bankers said prospective bidders of the company do not want any confusion over the brand in future. They have sought clarity over usage of the brand.
The agency has predicted that monsoon will also be a major factor.
The government on Thursday ruled out giving another extension to various states for unbundling their electricity boards as part of measures to encourage non-government entities in the power sector.
The current capital flight is a short-term phenomenon, the agency said.
The domestic currency will appreciate to touch the 50 level by next March provided certain measures are taken by the government urgently, the rating agency's research wing said in a note.
"The examination will cover several aspects, including standalone profiles of the Indian subsidiaries, our assessment of the strength and quality of parent support, and translation of global ratings to the Crisil scale," Crisil Ratings Senior Director Raman Uberoi said.
Credit rating agency Crisil has announced that it has reached a preliminary understanding with Equifax Inc of the US, and Tata Capital Ltd to set up a credit information company, which provides credit histories and checks on retail borrowers.
Indian IT-enabled services companies can attain high profitability in the long term and growth of such services will be highly sustainable, according to report by CRIS INFAC, subsidiary of CRISIL.
Crisil said the next fiscal could be a year of new leadership and old challenges.
CRISIL upgrades ratings for IPCL debt plan.
'The Budget needs to focus more on social welfare schemes.'
The agency had in May projected an economic growth between 7.7 and 8 per cent for this fiscal and Monday's revision comes within a week of rival Fitch Ratings, and Citigroup revising the same to 7.5 per cent from 7.7.
Government officials believe that central bridge projects perform better than state projects due to stricter checks and balances.
The profitability of public sector banks would decline by over 40 per cent by 2005-06 due to re-pricing of the government securities portfolio, credit rating agency Crisil said.
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The agency also warned the government of overshooting the fiscal deficit target at 4.8 per cent due to poor revenue growth and pegged it at 5.2 per cent this fiscal.
The bidding for four spectrum bands is scheduled to start from March 4.
Adani group will invest more than $100 billion (around Rs 8,340 crore) in energy transition projects and manufacturing capability to produce every major component required for green energy generation, its chairman said on Wednesday. Besides building solar parks to produce electricity from sunlight and wind farms that do the same from wind, the conglomerate is building major facilities to manufacture electrolyzers for making green hydrogen, wind power turbines and solar panels.
If El Nino condition affects the monsoons, as is being forecast by foreign agencies, it can slow down the economy to 5.2 per cent next fiscal from a projected 6 per cent.
Credit rating agency Crisil on Wednesday said depreciation in the rupee will shave off up to Rs 4,000 crore (Rs 40 billion) from the profits of Nifty companies in the December quarter.
Foreign investment in multi-brand retail could help ease the problem of high food prices, an issue on which the government is fighting a major political battle, research firm Crisil said.
The rating agency expects that key fiscal indicators of state governments -- revenue deficit and gross fiscal deficit - may deteriorate from 2009 though the impact will begin to be felt in the current fiscal. It further said that the adverse effect of lower revenue growth will be aggravated due to higher development and non-development expenditures.
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