Moody`s retains rating on SBI`s senior unsecured notes

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

ACCHHE DIN are surely round the corner - Angel Broking

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

We maintain our NEUTRAL rating on Indoco Remedies Ltd - Angel Broking

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 assigns Baa2 ratings to OIL's proposed USD bonds

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

RBI to keep rates unchanged, next move likely a cut: Reuters poll

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

India`s GDP growth to touch 7.6% next year: DBS

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

RBI monetary policy, rupee, fund inflows to steer Indian equities

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

Slaughterhouse ban to hit leather goods industry, hit exports

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

SBI's proposed debt less likely to default at BBB- by Fitch

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

Hard-brexit to push Pound in plunge mode By Mr.Prathamesh Mallya - Angel Broking

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 assigns Baa3 to SBI's USD note drawdown

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

Euro dips as price data further dampens ECB hike expectations

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 rates JSW Steel's proposed senior notes `Ba3`

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 assigns 'BB(EXP)' rating to JSW Steel proposed USD Notes

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

Stocks seen hitting record high by end-June on economic optimism: Reuters poll

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

India's economic data not politically influenced, Arvind Subramanian says

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

Nothing alarming about US H-1B visa reforms, says Nasscom

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.

Hot days ahead but a good sign for farmers: Analysts

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

Rupee bulls shouldn't expect USD/INR to appreciate below 64-65 levels

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 assigns (P)Baa3 ratings to the MTN program of IREDA

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

We maintain our Neutral view on Dr Reddy's Laboratories Ltd - Angel Broking

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

GST rollout, tackling NPAs to dominate new fiscal

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

Government's big solar push could run into land hurdle

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.

SBI may reduce workforce by nearly 10% by 2019, says MD Rajnish Kumar

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

GDP up but job security falls: Only 16% earn regular wage

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.