'Policy-sensitive sectors will wait and watch, but policy-agnostic areas will continue based on normal consumption demand.'
The downturn in commodities and oil refining, stemming from global economic slowdown, has affected profitability. This is expected to weaken the company's cash flow measures, S&P said.
The agency had earlier said that the economy would grow at the rate of 5.8 per cent. In a teleconference, S&P said the revision was occasioned because of the positive policy responses by the country and improving global conditions, despite the deficient rains and lurking swine flu.
Creating an LLM trained on Indian languages is not easy. Experts say each language in India has a nuance of its own, so creating a ChatGPT-like product is an ambitious challenge.
Indian economy has clocked a growth of 8.7 per cent in the first half of the calendar year. It said strong farm production will help drive economic recovery and also bring down food inflation, even though it said, 'inflation remains worrying.'
The central bank will come out with fresh set of guidelines for companies applying for on-tap bank licence
'A Gold-standard meeting! Javelin thrower & Olympic Gold medallist @Neeraj_chopra1 interacted with #TeamIndia ahead of the #U19T20WorldCup Final!'
Markets will watch the policy meeting on June 18 and 19 for clues to a rollback of stimulus measures. Fed officials are divided over their ultra-easy monetary policy and some warn it could stoke future inflation and financial instability.
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.
Late-recovery led by rate sensitives and capital good stocks; banks shares slip on profit booking.
Rating agency says the country may lose its investment-grade status on growth concerns; finance ministry begs to differ
'We aim at establishing India as an early talent hub on a global scale and are actively recruiting professionals in areas like cybersecurity, machine learning, data science, and other relevant fields.'
The broader markets were positive with mid-caps and small-caps gaining 0.4-0.6 per cent on the BSE.
The S&P warning was largely a repeat of comments made to Reuters in late August, and no missiles were reported to have landed in Syria, but Indian investors were so unnerved that the reports exacerbated a sell-off in the rupee and local stocks.
Bond issue oversubscribed 15 times despite gloomy sovereign rating.
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.
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.
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.
Prithvi Raj Singh Oberoi, the 94-year-old veteran corporate hotelier who redefined India's hospitality industry, passed away on Tuesday. The Chairman Emeritus of The Oberoi Group, popularly known as 'Biki', built a sprawling chain comprising 32 hotels during his lifetime. EIH owns the eponymous Oberoi and Trident hotel chains.
While the rating cut will raise borrowing costs for the US government, companies and consumers, Indian educational institutes fear it may also impact recruitment plans of international companies.
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.
The rating of Egypt has been cut one notch from 'BB-' to 'B+'.
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.
Responding to what is widely felt by the political establishment in Europe to be the "destabilising" role played by credit ratings agencies in the ongoing euro zone crisis, the European Commission unveiled measures to curb their power.
Independent directors of Raymond Ltd on Friday said they are monitoring the situation arising out of the matrimonial dispute of company's Chairman and Managing Director Gautam Singhania to ensure it does not affect his capacity to manage the affairs and business of the firm. In a joint communication shared on BSE by the company, the independent directors also said they have decided to retain Berjis Desai, a senior independent legal counsel, who has no links with promoters or the company, for advising them.
'Some funds may be redirected towards "safe" countries'
The triennial exercise will take place for two hours and fifteen minutes during the day, dusk and night, he said.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
The CRS has recommended that a drive should be launched to update the completion signalling wiring diagrams, other documents and lettering of signaling circuits at site.
'We will continue to build new engines of growth in terms of innovations, enter newer categories, and look at newer propositions.'
Global Finance announced its 20th Annual Ranking of the World's 50 safest banks.
Children born under the Special Marriage Act have equal rights over both parents' properties, regardless of their parents' religion or background.
Global hospitality major IHG Hotels and Resorts saw its business surpass pre-pandemic levels in 2023 on the back of "unprecedented growth" in the tourism industry, a senior company official said. The UK-headquartered company, which operates Holiday Inn, Holiday Inn Express, Crowne Plaza and luxury brands like Intercontinental and Six Senses in India, launched its premium lifestyle brand voco in January this year, with the first property set up at Jim Corbett in North India. The group, in total, signed 15 new deals in 2023.
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.
The Indian Air Force will carry out a mega exercise covering the Northeastern region early next month to check its combat readiness, amid a fresh spike in tension with China along the Line of Actual Control in Arunachal Pradesh.
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
The exclusive club that dominates the global semiconductor fab scenario is about to get a new member. Taiwan, South Korea, and China control nearly 70 per cent of the global capacity. SEMI, the global industry body for semiconductor and electronics design and manufacturing, projects all fabs collectively will churn out 30 million wafers a month this year.
