Banking shares led the free fall and dragged almost all major European indexes down with them.
S&P updates this screen on a semiannual basis, during February and again in August.
Following it negotiations with Ford Motors for the aquisition of Jaguar and Land Rover, Tata Motors has been put under credit watch.
The controversy erupted after the Tamil Nadu Cooperative Milk Producers Federation -- which sells dairy products in brand name Aavin -- declined to use the Hindi term 'Dahi' in its printed sachets as directed by FSSAI and said that it would only stick to the Tamil word 'Thayir'.
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.
Global credit rating agency Standard & Poor's has indicated that Indian stock markets are overvalued currently, recommending underweighing of the markets next year.
'We are committed to achieving the targets we had outlined.'
Rating agency Fitch on Tuesday downgraded the US government's top credit rating to AA+ from AAA, citing fiscal deterioration over the next three years and repeated debt ceiling negotiations. The development caused a flutter across equity markets, with most leading frontline global equity indices trading weak. Back home, the S&P BSE Sensex and the Nifty50 lost over 1 per cent each in intra-day deals to hit a low of 65,751.53 and 19,517.55 levels, respectively.
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.
Bank stability is an ever-more pressing concern for the world's corporations and investors says Global Finance, while announcing the half-yearly update of its ranking of the world's 50 safest banks.
Global rating agency Standard & Poor's on Thursday warned Asia may see lower growth this year due to adverse impact of oil price pressure and tsunami, but said India will be an 'exception.'
The Congress on Thursday said it firmly believes that India's democratic processes themselves have to deal with the threats posed to its democracy, remarks that came after the Bharatiya Janata Party attacked the opposition party for its leader Digvijaya Singh thanking Germany for "taking note" of Rahul Gandhi's disqualification from the Lok Sabha.
Find out which financial instruments will protect you from bear market volatility.
Market breadth on the BSE was rather unhealthy with 1,436 stocks having declined against 973 advancing ones, on the BSE.
Dealers across brands are slashing prices by Rs 20,000 to over Rs 1 lakh, depending on the car model.
Fiscal correction is needed even after the changes that have been made now, otherwise the fiscal deficit would tend to be high.
The rating, however, is still five steps above junk status.
More pain likely, say analysts, with gloomy demand scenario and slowing economy.
In the current calendar year, small and medium enterprises (SMEs) have witnessed an impressive surge in initial public offerings (IPOs), surpassing the 2018 record. Over 150 SME IPOs have been introduced to the market, breaking the previous record of 141 set in 2018. According to data from PRIME Database, a primary market tracking firm, 147 companies successfully concluded their debut share sales by the end of October, raising a cumulative Rs 3,727 crore.
Hazare-led campaign has got wide publicity in the US media.
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Both Europe and the US can learn a lesson from American history to overcome their debt problems.
Finance minister said India had taken several measures to make markets attractive.
Nine Indian Americans among Outstanding 50 Asian Americans in Business this year.
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.
Weak economy and high interest rates in India, which have adversely affected cash flows and debt-servicing ability, have prompted the companies to improve their financial profiles.
Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said recently, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24). The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges. According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis.
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 CreditWatch action follows Vedanta's announcement that it would acquire a controlling stake in India-based oil and gas company Cairn India Ltd.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
The US political system might not be as broke as some thought but the deal came a bit too late to allay apprehensions.
With the downgrade there is a danger that investors who hold these financial securities may sell out. Of course, the level of selling will depend on the way the investors react to this downgrade.
Auditor Deloitte flagged three transactions, including recoveries from a contractor identified in the Hindenburg report, as it issued a qualified opinion on the accounts of Adani Ports & Special Economic Zone.
The ratings reflected the growing strength of India's macro-economic stability, Finance Minister P Chidambaram said.
Infosys Technologies Ltd has become the first company in India to obtain BBB rating, higher than the country's sovereign rating (BB+/Stable/B), from global credit rating agency Standard & Poor's, reflecting the company's strong financial profile.
