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S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25 S&P Global Ratings on Tuesday projected 6.8 per cent growth for the Indian economy in FY25, followed by 6.9 per cent growth in FY26, on the back of strong urban consumption, steady service sector growth, and ongoing investment in infrastructure.  The growth projection by S&P Global Ratings is higher than the latest Reserve Bank of India’s (RBI) forecast for India’s GDP growth for 2024-25 at 6.6 per cent, from 7.2 per cent earlier. The global credit rating agency...
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25
Source: IANS
2024-12-10 11:29:33 am
India`s rising coal production to keep global price in check India’s rising domestic production of thermal coal and the slowdown in the Chinese economy are expected to exert downward pressure on the price of fossil fuel in Asian markets during 2025, according to an S&P Global report released on Thursday.   India’s rising domestic supply and the government’s emphasis on reducing import dependency are likely to keep industrial purchases limited to the domestic market, the report states.   Vignesh Sundaram, a principa...
India`s rising coal production to keep global price in check
India`s rising coal production to keep global price in check
Source: IANS
2024-12-06 09:48:02 am
S&P Global pegs world economic growth at 3 pc in 2025 S&P Global Ratings on Thursday forecast global economic expansion of 3 per cent in 2025 as growth slows in the US, China, and the Eurozone continues to recover, and emerging markets find their footing.  “With easing inflation, resilient labour markets, and sturdy consumer spending bolstering economic activity in most developed markets, we expect steady growth next year,” S&P Global said. Region- and country-specific divergence and overall geopolitical uncert...
S&P Global pegs world economic growth at 3 pc in 2025
S&P Global pegs world economic growth at 3 pc in 2025
Source: IANS
2024-12-05 01:51:45 pm
Adani Power in top 80 percentile of global electric utilities in S&P Global CSA score Adani Power on Thursday said it has achieved an exceptional score of 67 (out of 100) in the corporate sustainability assessment (CSA) by global rating agency S&P Global for FY 2023-24.  This compares to the sectoral average of 42 and Adani Power's own FY23 score of 48. With this score, Adani Power Ltd (APL) is in the top 80 percentile of all global electric utilities. In several elements of CSA score like human rights, transparency and reporting, water, and waste and pollut...
Adani Power in top 80 percentile of global electric utilities in S&P Global CSA score
Adani Power in top 80 percentile of global electric utilities in S&P Global CSA score
Source: IANS
2024-11-29 09:14:20 am
S&P Global Ratings revises down India`s economic growth estimates to 6.7% for FY26, 6.8% for FY27 Indicating high interest rate and lower fiscal impulse tempering urban demand, S&P Global Ratings has revised down its estimate for India's economic growth in the next two financial years. In an update to its economic forecast for Asia-Pacific economies after US election results, the rating agency projected a 6.7 per cent Gross Domestic Product (GDP) growth rate in 2025-26 financial year (April 2025 to March 2026) and 6.8 per cent in the following fiscal year, down from 6.9 per cent a...
S&P Global Ratings revises down India`s economic growth estimates to 6.7% for FY26, 6.8% for FY27
S&P Global Ratings revises down India`s economic growth estimates to 6.7% for FY26, 6.8% for FY27
Source: Accord Fintech
2024-11-25 03:31:58 pm
S&P revises South Africa`s outlook to positive South Africa welcomed the ratings agency Standard & Poor's (S&P) Global's decision to revise the country's outlook from "stable" to "positive," citing improved reform and growth potential.  In a statement released late on Friday night, S&P said: "The positive outlook reflects our view that increased political stability following the May general elections and impetus for reform could boost private investment and GDP growth, Xinhua ne...
S&P revises South Africa`s outlook to positive
S&P revises South Africa`s outlook to positive
Source: IANS
2024-11-17 09:09:55 am
S&P Global Ratings retains India`s GDP growth at 6.8 pc for FY25, cuts China`s forecast  S&P Global Ratings on Tuesday retained India's growth forecast at 6.8 per cent for the fiscal 2024-25, while reducing China's economic growth by 0.2 per cent to 4.6 per cent in the calendar year 2024.  In its quarterly economic outlook for the Asia-Pacific region, the global rating agency said, "In India, GDP growth moderated in the June quarter as high interest rates temper urban demand, in line with our projection of 6.8 for GDP for the full fiscal year 2024-2...
S&P Global Ratings retains India`s GDP growth at 6.8 pc for FY25, cuts China`s forecast
S&P Global Ratings retains India`s GDP growth at 6.8 pc for FY25, cuts China`s forecast
Source: IANS
2024-09-24 01:42:36 pm
IREDA gets a booster shot with international credit rating from S&P Global Indian Renewable Energy Development Agency Limited (IREDA) achieved a significant milestone on Thursday by securing its international credit rating which will help the government-owned financial company to secure funds from global markets at lower rates of interest.  The International Credit Rating Agency, S&P Global Ratings Limited assigned 'BBB-' long-term and 'A-3' short-term issuer credit ratings to IREDA, with Outlook 'Stable', the Ministry of New ...
IREDA gets a booster shot with international credit rating from S&P Global
IREDA gets a booster shot with international credit rating from S&P Global
Source: IANS
2024-08-30 10:07:33 am
UltraTech Cement surges on raising $500 million through sustainability-linked loan Ultratech Cement is currently trading at Rs. 11358.30, up by 21.05 points or 0.19% from its previous closing of Rs. 11337.25 on the BSE. The scrip opened at Rs. 11419.60 and has touched a high and low of Rs. 11440.00 and Rs. 11342.45 respectively. So far 2481 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 12078.15 on 02-Jul-2024 and a 52 week low of Rs. 8050.00 on 04-Oct-2023. Last one week high and low of the...
UltraTech Cement surges on raising $500 million through sustainability-linked loan
UltraTech Cement surges on raising $500 million through sustainability-linked loan
Source: Accord Fintech
2024-08-27 02:10:48 pm
India business activity extends robust growth streak in August, PMI shows  India's business activity extended its robust growth streak in August as a stronger services industry offset a slight slowing in manufacturing expansion, according to a survey that indicated price pressures also were easing. Those findings suggest India will hold on to its title of fastest-growing major economy over coming quarters despite expectations of a slowdown in the global economy. HSBC's flash India Composite Purchasing Managers' Index, compiled by S&P Glob...
India business activity extends robust growth streak in August, PMI shows
India business activity extends robust growth streak in August, PMI shows
Source: Reuters
2024-08-22 10:45:35 am
Indian telecom sector poised for next stage of market repair: S&P Global Ratings The Indian telecommunications industry looks set for the next phase of market repair, as it settles more stably into a three-player market, a report showed on Thursday.  According to a report by S&P Global Ratings, rising stability in the sector will boost earnings and solidify credit metrics. “We believe entities will take the opportunity to embark on a much-needed focus on improving earnings and balance sheets. Investors will likely remain willing to amply fund the top ...
Indian telecom sector poised for next stage of market repair: S&P Global Ratings
Indian telecom sector poised for next stage of market repair: S&P Global Ratings
Source: IANS
2024-07-11 03:43:29 pm
Rupee strengthens against US dollar on Tuesday Indian rupee strengthened against the US dollar in early trade on Tuesday, tracking firm domestic equities and weak American currency at overseas market. Meanwhile, the Reserve Bank of India protected the rupee from a fall beyond 83.55. However, elevated crude oil prices and foreign fund outflows have restricted the up-move. Foreign Institutional Investors were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 653.97 crore, exchange data showed. Meanwhile, the S&...
Rupee strengthens against US dollar on Tuesday
Rupee strengthens against US dollar on Tuesday
Source: Accord Fintech
2024-06-25 12:48:55 pm
S&P Global Ratings retains India's GDP growth forecast for FY25 at 6.8% S&P Global Ratings in its economic outlook for Asia Pacific said that it has retained India's  gross domestic product (GDP) growth forecast for the current financial year (FY25) at 6.8 per cent and said high interest rates and lower fiscal spur would temper demand.  Its estimates for FY25 is lower than that of the Reserve Bank of India (RBI), which earlier this month projected the Indian economy to expand at 7.2 per cent in the current fiscal, on the back of improving rur...
S&P Global Ratings retains India's GDP growth forecast for FY25 at 6.8%
S&P Global Ratings retains India's GDP growth forecast for FY25 at 6.8%
Source: Accord Fintech
2024-06-25 12:22:02 pm
Narendra Modi`s smaller mandate to slow India`s fiscal tightening, Moody's says The narrower margin of victory for Indian Prime Minister Narendra Modi's alliance in elections will forestall reforms that could have potentially facilitated aggressive fiscal consolidation, an analyst at Moody's Ratings said on Wednesday. Modi's Bharatiya Janata Party (BJP) won 240 seats on its own, 32 short of the halfway mark in the 543-member decision-making lower house, with the National Democratic Alliance (NDA) which it leads securing a total 293 seats. "It looks...
Narendra Modi`s smaller mandate to slow India`s fiscal tightening, Moody's says
Narendra Modi`s smaller mandate to slow India`s fiscal tightening, Moody's says
Source: Reuters
2024-06-05 11:33:55 am
Revision in India`s rating outlook to positive reflects solid growth performance: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said that S&P Global Ratings' revision of its outlook on India from 'stable' to 'positive' is a welcome development. She said this reflects India's solid growth performance and a promising economic outlook for the coming years The minister noted that it has been possible due to the series of macroeconomic reforms undertaken since 2014, along with substantial outlay for capex, fiscal discipline, and decisive and visionary l...
Revision in India`s rating outlook to positive reflects solid growth performance: FM Nirmala Sitharaman
Revision in India`s rating outlook to positive reflects solid growth performance: FM Nirmala Sitharaman
Source: Accord Fintech
2024-05-30 11:35:22 am
S&P Global will likely raise India's rating within 2 years, Citi says Citi expects S&P Global Ratings' to upgrade India's sovereign rating by late 2026 given the ratings agency's confidence in the South Asian nation's macro drivers as well as the flow of economic and political cycles, it said on Thursday. S&P raised India's sovereign rating outlook to 'positive' from 'stable' on Wednesday, citing the country's strong economic fundamentals. It, however, kept the rating itself at 'BBB-'. "In the p...
S&P Global will likely raise India's rating within 2 years, Citi says
S&P Global will likely raise India's rating within 2 years, Citi says
Source: Reuters
2024-05-30 11:29:38 am
S&P Global upgrades India's outlook to positive from stable amid robust economic growth Global rating agency S&P Global on Wednesday revised India's outlook from stable to positive on Wednesday, as the country continues to excel in long-term economic growth amid political stability.  S&P Global said that the “positive outlook reflects our view that continued policy stability, deepening economic reforms, and high infrastructure investment will sustain long-term growth prospects”. “That, along with cautious fiscal and monetary policy th...
S&P Global upgrades India's outlook to positive from stable amid robust economic growth
S&P Global upgrades India's outlook to positive from stable amid robust economic growth
Source: IANS
2024-05-29 02:20:01 pm
Indian banks' credit growth, profitability, asset quality to remain robust in current fiscal: S&P Global Ratings S&P Global Ratings in the Asia-Pacific 2Q 2024 Banking Update has said that Indian banks' credit growth, profitability and asset quality would remain robust in current fiscal reflecting strong economic growth, but they may be compelled to slow down their loan growth as deposits are not growing at a similar pace. S&P Global Ratings Director SSEA Nikita Anand said the agency expects the sector's strong credit growth to moderate to 14 per cent in FY25, from 16 per cent in FY24...
Indian banks' credit growth, profitability, asset quality to remain robust in current fiscal: S&P Global Ratings
Indian banks' credit growth, profitability, asset quality to remain robust in current fiscal: S&P Global Ratings
Source: Accord Fintech
2024-04-29 10:37:48 am
India`s services sector growth surges leading to more jobs in March: PMI survey India's services sector growth accelerated in March on the back of strong demand, leading to employment increasing at the fastest rate in seven months and export business expanding at a record pace during the month, according to an HSBC survey released on Thursday. HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 61.2 last month from February's 60.6. This is well above the 50-mark on the index which separates growth from contraction. ...
India`s services sector growth surges leading to more jobs in March: PMI survey
India`s services sector growth surges leading to more jobs in March: PMI survey
Source: IANS
2024-04-04 01:52:14 pm
India`s March factory growth hits 16-year high, hiring picks up India's manufacturing industry enjoyed solid growth in March, expanding at the fastest pace in 16 years thanks to accelerating demand, according to a survey that also showed hiring increased at the strongest rate in six months. Ahead of a general election this month, the data is likely to boost support for Prime Minister Narendra Modi's government, which has focused on manufacturing to improve the economy, already the fastest-growing among its major peers. The HSBC final India M...
India`s March factory growth hits 16-year high, hiring picks up
India`s March factory growth hits 16-year high, hiring picks up
Source: Reuters
2024-04-02 11:39:51 am
S&P raises India`s GDP growth forecast for FY25 to 6.8% S&P Global Ratings has raised India's Gross domestic product (GDP) growth forecast for the next financial year (FY25) to 6.8 per cent, but flagged restrictive interest rates as a dampener for economic growth. In November 2023, it had projected India's growth to be 6.4 per cent in FY25 on robust domestic momentum. It said the Indian economy is estimated to have clocked a growth of 7.6 per cent in the current fiscal (FY24). S&P in its Economic Outlook for the Asia Pacific sai...
S&P raises India`s GDP growth forecast for FY25 to 6.8%
S&P raises India`s GDP growth forecast for FY25 to 6.8%
Source: Accord Fintech
2024-03-26 11:37:57 am
India`s March business activity ends fiscal year on strong note -PMI  India's business activity ended this fiscal year on a high note, expanding at the fastest rate in eight months in March, according to a business survey, suggesting the country would remain the fastest growing major economy. HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 61.3 this month from February's final reading of 60.6. That extended the streak of expanding activity to 32 months. The 50-mark separates expansio...
India`s March business activity ends fiscal year on strong note -PMI
India`s March business activity ends fiscal year on strong note -PMI
Source: Reuters
2024-03-21 11:28:02 am
Indian Bank credit growth could moderate in FY25 on tighter liquidity: S&P S&P Global Ratings has said strong credit growth of Indian banks could moderate to 12-14 per cent in the next fiscal (FY25) if deposit growth remains tepid. It said banks may be compelled to look for wholesale funding. It added that higher costs of such funding could further strain margins and hurt profitability.  It stated rising cost of funds and potential rate cuts in fiscal 2025 will squeeze net interest margins. It expects the share of unsecured personal loans in the banks...
Indian Bank credit growth could moderate in FY25 on tighter liquidity: S&P
Indian Bank credit growth could moderate in FY25 on tighter liquidity: S&P
Source: Accord Fintech
2024-02-06 10:48:25 am
S&P Global upgrades Adani Ports, Adani Electricity on cash flow optimism S&P Global Ratings revised its outlook for India's Adani Ports and Special Economic Zone and Adani Electricity Mumbai to stable from negative on signs of robust cash flow in the next 12 to 24 months. Adani Ports' ratio of adjusted net debt to earnings before interest, tax, depreciation and amortization - a measure of its ability to pay off liabilities - is expected to be in the range of 3x to 4x over the next two years, S&P said. For Adani Electricity, the agency expects...
S&P Global upgrades Adani Ports, Adani Electricity on cash flow optimism
S&P Global upgrades Adani Ports, Adani Electricity on cash flow optimism
Source: Reuters
2024-01-23 09:22:14 am
S&P upgrades Vedanta Resources just days after a downgrade S&P Global Ratings upgraded Vedanta Resources, the London-based parent of Indian miner Vedanta Ltd, on Monday, citing a more "manageable" debt maturity profile after a recent debt restructuring, which the rating agency blamed for a downgrade just days back. The rating agency raised its long-term issuer credit rating on Vedanta Resources from "SD," or "selective default," to "CCC+", indicating the company is currently vulnerable and depends on fav...
S&P upgrades Vedanta Resources just days after a downgrade
S&P upgrades Vedanta Resources just days after a downgrade
Source: Reuters
2024-01-16 09:25:04 am
Global credit rating agencies must be transparent, fair to developing nations: CEA  Credit rating agencies such as Fitch, Moody’s and S&P, need to reform their sovereign rating process which is heavily loaded against developing countries like India resulting in additional funding costs running into billions of dollars, the government’s Chief Economic Adviser, V Anantha Nageswaran has said. In a document titled Re-examining Narratives: A Collection of Essays, published by the CEA's office, Nageswaran said the enormous degree of opaqueness in credi...
Global credit rating agencies must be transparent, fair to developing nations: CEA
Global credit rating agencies must be transparent, fair to developing nations: CEA
Source: IANS
2023-12-22 01:37:45 pm
S&P Global Ratings downgrades Vedanta Resources amid bond maturity extension  S&P Global Ratings on Thursday downgraded the rating of Vedanta Resources, parent of Indian miner Vedanta Ltd, citing concerns about extension of maturities of some of its bonds. Vedanta Resources late Wednesday said it raised $1.25 billion from financial institutions for refinancing, including a new credit facility. The company also said it started consent solicitations with existing bondholders to extend debt maturity profile, allowing for extension of maturities, amendments...
S&P Global Ratings downgrades Vedanta Resources amid bond maturity extension
S&P Global Ratings downgrades Vedanta Resources amid bond maturity extension
Source: Reuters
2023-12-14 10:56:40 am
India to be world`s third-largest economy by 2030 -S&P Global Ratings India will remain the fastest-growing major economy for at least the next three years, setting it on course to become the world's third-largest economy by 2030, S&P Global Ratings said in a report. S&P expects India, currently the world's fifth-largest economy, to grow at 6.4% this fiscal and estimates growth will pick up to 7% by fiscal 2027. In contrast, it expects China's growth to slow to 4.6% by 2026 from an estimated 5.4% this year. India's gross domestic p...
India to be world`s third-largest economy by 2030 -S&P Global Ratings
India to be world`s third-largest economy by 2030 -S&P Global Ratings
Source: Reuters
2023-12-05 03:53:31 pm
India to become world`s third largest economy by 2030: S&P S&P Global Ratings has said that India will become the world's third largest economy by 2030, as it forecast the nation's GDP growth reaching 7 per cent in 2026-27 fiscal year. It expects India will be the fastest growing major economy in the next three years. Currently, the country is the fifth largest economy in the world behind the US, China, Germany and Japan. In its Global Credit Outlook 2024, S&P saw a 6.4 per cent GDP growth in the fiscal year through March 2024 (202...
India to become world`s third largest economy by 2030: S&P
India to become world`s third largest economy by 2030: S&P
Source: Accord Fintech
2023-12-05 12:26:52 pm
S&P raises forecast for India`s GDP growth S&P Ratings has raised its forecast for India’s GDP growth during the current financial year to 6.4 per cent from the earlier 6 per cent. “We have revised upwards our projection for this fiscal as robust domestic momentum seems to have offset headwinds from high food inflation and weak exports,” S&P Global Ratings chief economist for Asia-Pacific Louis Kuijs said in a research note on the outlook for the region. However, the rating agency has lowered its outloo...
S&P raises forecast for India`s GDP growth
S&P raises forecast for India`s GDP growth
Source: IANS
2023-11-28 12:43:07 pm
RBI`s tighter regulatory risk weight to hit banks` capital adequacy by 60 bps: S&P Global Ratings S&P Global Ratings has said that the Reserve Bank of India’s (RBI’s) decision to tighten norms for consumer credit by raising risk weight for unsecured personal loans is likely to hit banks' capital adequacy by 60 basis points. The move will curtail riskier bank lending to consumers and is expected to squeeze the nonbank sector in particular. It stated the RBI increased risk weights on unsecured personal loans, credit cards, and lending to nonbank finance companies (NBF...
RBI`s tighter regulatory risk weight to hit banks` capital adequacy by 60 bps: S&P Global Ratings
RBI`s tighter regulatory risk weight to hit banks` capital adequacy by 60 bps: S&P Global Ratings
Source: Accord Fintech
2023-11-20 10:30:21 am
India poised to surpass Japan to become world`s 3rd largest economy by 2030: S&P India is likely to surpass Japan to become the world's third-largest economy with its GDP doubling to $7.3 trillion by 2030, according to the latest S&P Global Market Intelligence report.?India's nominal GDP measured in USD terms is forecast to rise from $3.5 trillion in 2022 to $7.3 trillion by 2030. This rapid pace of economic expansion would result in the size of the Indian GDP exceeding Japanese GDP by 2030, making India the second largest economy in the Asia-Pacific region,? the report s...
India poised to surpass Japan to become world`s 3rd largest economy by 2030: S&P
India poised to surpass Japan to become world`s 3rd largest economy by 2030: S&P
Source: IANS
2023-10-24 03:39:51 pm
India`s factory output in September a tad lower but remains strong: S&P report India?s manufacturing sector registered a mild slowdown in growth during September compared to August but still continues to remain strong as a sharp rise in new orders underpinned sustained expansions in output, input purchasing and employment, according to a S&P Global PMI report released on Tuesday.India?s manufacturing sector registered a mild slowdown in growth during September compared to August but still continues to remain strong as a sharp rise in new orders underpinned sustained...
India`s factory output in September a tad lower but remains strong: S&P report
India`s factory output in September a tad lower but remains strong: S&P report
Source: IANS
2023-10-03 04:02:42 pm