Vedanta shares slide after Ind-Ra downgrades rating
Ind-Ra has downgraded Vedanta’s long-term issuer rating to ‘IND AA-’from ‘IND AA’, while placing it on rating watch with negative implications.
Ind-Ra has downgraded Vedanta’s long-term issuer rating to ‘IND AA-’from ‘IND AA’, while placing it on rating watch with negative implications.
India’s push for roads and renewable energy will continue to dominate the country’s investment cycle, says Ind-Ra.
India Ratings and Research says this can have an impact on rural demand, which has been under stress in the aftermath of Covid-19.
Indian pharma companies have increasingly de-risked their operations by slowly and steadily increasing sales to non-US markets, says India Ratings and Research.
The rating agency expects the current account deficit to have moderated to $17.3 billion (1.96% of GDP) in the fourth quarter of FY22.
Asset quality in the retail and micro, small and medium (MSME) segments are most impacted due to the pandemic, Ind-Ra estimates show.
Broadcasters, movie exhibitors, and print media will be most impacted, says a report by research agency Ind-Ra.
The private sector lender said it will file its December quarter results by March 14; it is in talks with potential investors including J.C. Flowers and Silver Point Capital for a cash infusion.
As the banking sector reels under the pressure of stressed assets, private and large public banks will have a better FY19.