No immediate impact on credit ratings of Adani Group: Fitch Ratings
The rated businesses are separately listed (directly or effectively), operate in utility or infrastructure businesses, and with relatively stable cash flow.
The rated businesses are separately listed (directly or effectively), operate in utility or infrastructure businesses, and with relatively stable cash flow.
Notably, Indian telecom operators continue to have one of the lowest monthly average revenue per user (USD 2.5) and the highest monthly data usage (20 GB) in the world.
Indian power generators in general and renewable companies, in particular, will benefit from the counterparty shift to commercial and industrial (C&I) customers from weak state-owned distribution companies, said Fitch Ratings.
In its latest report, Fitch Ratings said India's external buffers appear sufficient to cushion risks associated with the rapid monetary policy tightening in the US and high global commodity prices.
RBI too earlier this month cut India's growth forecast to 9.5 per cent for this fiscal, from 10.5 per cent estimated earlier.
The failure of another bank in recent weeks the third failure in the past 16 months underlines the challenges in the financial sector.
GRMs of BPCL, Indian Oil Corp (IOC), Hindustan Petroleum Corp Ltd (HPCL) and Reliance Industries Ltd fell sharply in April-June due to weak industry conditions and inventory losses.
STFC's rating has been affirmed at 'BB' and Rating Watch Negative (RWN) has been removed.
RIL's acquisition of Future Group's warehousing and logistics business, in addition to its stores, will help expand the scale of JioMart, RIL's online grocery platform.
India's GDP shrank by a staggering 24 per cent year-on-year amid the imposition of one of the most stringent global nationwide lockdown.