Global credit rating agency Moody's Investors Service said it has retained its rating for State Bank of India's (SBI) senior unsecured notes after the issue size was increased by USD 100 million to USD 600 million. The issue is part of SBI's USD 10 billion medium-term note programme. "The upsize will be carried out from its London branch, and the bonds will be listed on the Sin
Below is the views on ACCHHE DIN are surely round the corner By Mr. Mayuresh Joshi (Fund Manager, Angel Broking)
The equity markets continued their upward momentum and closed at the all time high levels. Significant FII flows aptly abetted by DII contribution gave a leg up to the rally and stocks across varied sectors had a strong rally. Telecom
Below is the views on Indoco Remedies Ltd By Ms. Sarabjit Kour Nangra (VP Research- Pharma, Angel Broking Pvt Ltd
“The USFDA had inspected Indoco Remedies manufacturing facilities (Plant II & Plant III, L-32,33,34 Verna Industrial Estate Area, Verna, Goa), from August 31st 2016 to September 4th, 2016.As an outcome of this inspection, the facilit
Moody's Investors Service, a global rating agency, has assigned a Baa2 rating to Oil India Limited's (OIL) proposed foreign currency senior unsecured bonds to be issued by Oil India International Pte. Ltd, a wholly-owned subsidiary of OIL. “The ratings outlook is stable,” says Moody’s in a report. According to Moody’s, the net proceeds from the bond issuance will
By Krishna Eluri
The Reserve Bank of India (RBI) will keep interest rates unchanged at its meeting on Thursday and as inflation is below target while borrowing costs are more likely to fall than rise, a Reuters poll found.
In February, India's central bank was expected to cut rates but surprised markets by leaving them on hold and changed its stance to neutral from
A DBS report has said that India's GDP growth is expected to pick up again to 7.6 per cent next year thanks to improving consumption, timely rains, higher public sector spending, and better export growth. According to the global financial services major, the ongoing reforms will strengthen the productivity part of growth and the country's GDP will benefit from India's favourable wor
The monetary policy outcome of the Reserve Bank of India (RBI), movement of the Indian rupee and inflow of funds are expected to set the trend for the Indian equity markets during the trade week starting April 3.
Besides, the release of major global data, such as the minutes of the Federal Open Market Committee (FOMC) meeting in March, coupled with domestic macro-data -- Manufacturing
Leather goods manufacturers, who have experienced a slump in raw material supply from domestic sources, fear that the Bharatiya Janata Party (BJP)-led Uttar Pradesh government's action against illegal slaughterhouses could hit supplies and raise prices.
They also say a "blanket ban" on slaughterhouses could defeat the purpose of the Make in India programme for th
Fitch Ratings has assigned SBI's proposed debt instruments with a less default likelihood at BBB-(EXP) rating, reported PTI. The debt instruments constitute direct, unconditional, unsubordinated and unsecured obligations of SBI. Issue is expected to be of three year tenor and the notes are to be issued by SBI's London branch.
These instruments are rated at the same level of ba
Below is the views Hard-brexit to push Pound in plunge mode By Mr. Prathamesh Mallya (Chief Analyst- Non-Agri Commodities & Currencies, Angel Commodities Broking Pvt Ltd):
“The British Prime Minister has finally triggered Article 50 by announcing her intentions via letter addressing to the European Council President. She has warned the Europe
Moody's Investors Service, a global rating agency, has assigned a Baa3 rating to State Bank of India's proposed USD denominated senior unsecured notes, issued under its USD 10 billion Medium-Term Note (MTN) program. The drawdown will be carried out from its London branch, and the bonds will be listed on the Singapore Stock Exchange. The outlook on the ratings, where applicable, is posit
By Abhinav Ramnarayan
LONDON - The euro dipped and bond yields hit multi-week lows on Thursday as easing inflation in Spain and Germany led investors to row back further on expectations of when the European Central Bank might tighten monetary policy.
The single currency dipped 0.3 percent against the dollar and the yield on Germany's 10-year govern
Moody's Investors Service, a global rating agency, has assigned a Ba3 rating to the proposed senior unsecured notes to be issued by JSW Steel Limited. The ratings outlook is stable. Proceeds from the issuance will be used towards retiring some of the company's debt, funding capital expenditure and other purposes in accordance with the Reserve Bank of India's External Commercial Borr
Fitch Ratings has assigned a 'BB(EXP)' expected rating to India-based JSW Steel Limited's (JSWS, BB/Negative) proposed US dollar senior unsecured notes, which the company states will be used for repaying foreign-currency debt, capex or any other purpose in accordance with regulations.
“The final rating is subject to the receipt of final documentation conforming to in
By Kailash Bathija and Vivek Mishra
BENGALURU - India's benchmark BSE Sensex share index will scale a new record high by mid-year, according to strategists and brokers in a Reuters poll, who have upgraded their forecasts significantly from three months ago.
This more bullish view emerges from the poll despite widespread concern since the last Reuters pol
HONG KONG - India's chief economic adviser rejected the notion that official data was politically influenced as "utter nonsense", after surprisingly strong growth in the wake of a government ban on high denomination bank notes caused raised eyebrows among independent analysts.
Speaking to an investment forum in Hong Kong on Wednesday, Arvind Subram
Amid concerns over the US H-1B visa reforms, an official of IT industry association Nasscom on Tuesday said though there may be some challenges due to changes in the industry dynamics, there is nothing to be alarmed about.
"There is no concern. As much as we need them, they (the US) need us. That is what the Nasscom stand is all about. They do not have the manpower to replace us.
The pre-monsoon rains will be negligible this season leading to excessive heat in April and May, but this is a good sign for farmers, weather analysts said on Tuesday.
The India Meteorological Department has already declared heatwave condition in Rajasthan, Gujarat and Madhya Pradesh. On Monday, Barmer in Rajasthan sizzled at 44 degrees Celsius.
The excessive heat is being a
With the positive market sentiment created by the sweeping BJP win in the UP state election and a global sell-off in the US dollar, rupee bulls have managed to take the USD/INR close to the 65 level. Many currency traders are expecting this trend to continue, although at a slower momentum, which may take the exchange rate further down to around 62-63 levels in the coming months. But being bulli
Moody's Investors Service, a global rating agency, on Tuesday assigned a (P)Baa3 long-term senior unsecured rating and (P)P-3 short-term rating to the USD 300 million medium-term note (MTN) program that was established by the Indian Renewable Energy Development Agency Limited (IREDA, local and foreign currency issuer rating: Baa3, standalone credit profile: ba3). The rating outlook is stabl
Below is the views on Dr Reddy's Laboratories Ltd By Ms. Sarabjit Kour Nangra (VP Research- Pharma, Angel Broking Pvt Ltd):
“Dr Reddy's Laboratories Ltd and Integra LifeSciences Holdings Corporation, a global medical Technology company, have entered into an exclusive distribution agreement. Under the agreement, will market and distribute
An eventful financial year nears its end on March 31. It was a year of tumultuous ups and downs that witnessed a couple of historic economic moments. The year began with a hopeful resolution of the Greek financial crisis followed by a shocking exit of Britain from the European Union (EU). Post-Brexit, the EU's future was put in doubt and the world braced for its aftershocks. However, the fe
The Union cabinet decided last month to double India's solar power generation capacity, from 20 GW to 40 GW, by setting up 50 solar parks, which are solar projects with a capacity of 500 MW or more concentrated in one area. But this additional 20 GW would mean acquisition of at least 80,000 acres of land, thrice Jaipur's area, and possibly a problematic move in a land-starved country.
The total workforce of the country's largest lender -- State Bank of India (SBI) -- will see a reduction over the next two years, after the merger with six entities, owing to attrition, reduced hiring and digitisation, a top official said.
"Manpower will go down with the period of time. Around 10 per cent reduction in two years may be a possibility," Rajnish Kumar, SBI M
At 19, Dinesh Manjhi is the breadwinner for his family -- three siblings and a 55-year-old mother. But his tryst with adulthood actually began at 12, when his father took him on a 1,500-km journey from their home in Bihar to a farm in Punjab to work as a seasonal worker. This way, he added a valuable extra to what the father saved to bring back home every season.