Moodys Financial News

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here! Tata Power's takeover of distribution companies in Odisha and the subsequent improvement in its operations, underpinned by declining electricity losses, have strengthened its business profile, the ratings agency said in the report.

Hemang Jani, Independent Market Expert, says “from an investment and valuation perspective, that is surely looking quite attractive because you have additional triggers in terms of the unlocking of the value of this Jio Financials, which is still not reflected in the current price. So it is looking quite interesting at this point of time.” This morning, Nuvama has put out a note saying that Polycab could be a play on exports now. Right now, they just have about 12% of their revenues from exports. When they went for IPO, they had an annual profit of almost Rs 500 crore. Right now, they have a quarterly profit of Rs 500 crore. What is the potential for unlocking exports? The wire and cable segment has displayed very strong growth over the last two, three years.

A look at the day ahead in European and global markets from Tom Westbrook

Anurag Singh, Managing Partner, Ansid Capital, says “rates are going to be higher for a bit longer. The Federal Reserve last week clearly revised the dot plots and this time they are saying there are no cuts at least till the middle of 2024. If we put all this together, the picture is that when the rates are 5.5% with another 25 basis probably coming, can the markets be at 20x multiples? By the way, the entire rally was hinging on just seven stocks. That is also kind of coming back to roost.” What is this extended move on the dollar index for the last six days indicating? Traditionally we spell bad news for equities, especially emerging markets? Yes, true.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Citing sources, the news agency stated that Vedanta Ltd.’s parent, Vedanta Resources, will remain the holding company. However, deliberations are ongoing and no final decisions on the structure or timing of the de-merger have been made.

Vedanta shares tumbled 6.9% in Wednesday's trading after rating firm Moody's downgraded the corporate family rating (CFR) of UK-based parent Vedanta Resources. Analysts said concerns over the group's debt burden and volatile metal prices due to global headwinds could weigh down the stock in the near term. The stock closed at ₹208.95 on the BSE on Wednesday, after hitting a 52-week low of ₹208. «Vedanta Resources has been struggling to refinance its upcoming debt maturities worth $2 billion maturing during the next year,» said Jayesh Bhanushali, lead-research at IIFL.

The U.S. is in a weaker position now than when S&P downgraded its sovereign credit rating in 2011, according to the former chairman of the agency's Sovereign Rating Committee.

₹210.00 apiece on the BSE. Moody’s downgraded Vedanta Resources’ Ltd (VRL) corporate family rating (CFR) from Caa1 to Caa2 over elevated risks of debt restructuring over the next few months.

Vedanta: Moody's Investors Service downgraded Vedanta Resources' corporate family rating from Caa1 to Caa2 over elevated risks of debt restructuring over the next few months. With the current downgrade, the outlook remains negative for the parent company of Vedanta.. Infosys: The IT major is partnering Microsoft to enhance enterprise functions with AI-enabled solutions across multiple industries, according to a release.

Day trading guide for today: Domestic equity benchmarks Sensex and Nifty settled lower in the previous session due to select profit taking in IT and banking shares in line with weak Asian markets and continuous foreign fund outflows. Nifty 50 opened at 19,682.80 against the previous close of 19,674.55 and touched the intraday high and low of 19,699.35 and 19,637.45 respectively. Nifty 50 finally closed at 19,664.70, down 10 points, or 0.05 per cent.

Vedanta Ratings agency Moody's Investors Service on Tuesday downgraded corporate family rating (CFR) of Vedanta Resources, the parent of Vedanta Ltd, to Caa2. Voltamp Transformers Promoter Kunjal Lalitkumar Patel has offloaded a partial stake in Voltamp Transformers through bulk deals on Tuesday. Signature Global, Sai Silks The shares of Signature Global and Sai Silks will debut on the exchanges today.

Potomac Wealth Advisors founder and president Mark Avallone discusses the markets as a government shutdown looms, inflation and his outlook on the economy ahead of the release of updated economic data.

Vedanta Resources to take cognizance of the increased risk around the company's upcoming debt repayments, while maintaining its negative outlook. The rating agency has also warned of a further downgrade if the company is unable to make progress on funding arrangements. «The downgrade reflects elevated risk of debt restructuring over the next few months because VRL has not made any meaningful progress on refinancing its upcoming debt maturities, in particular the $1 billion bonds maturing each in January 2024 and August 2024,» Kaustubh Chaubal, the lead Moody's analyst on the conglomerate, said Tuesday. Moody's has downgraded corporate family rating for the London-based commodity major to Caa2 from Caa1 earlier.

₹7,508 per bbl, having swung between ₹7,352 and ₹7,520 per bbl during the session so far, against a previous close of ₹7,469 per barrel. -The US dollar hit a 10-month high today, as higher bond yields attracted investors towards the greenback. As the major currency used for oil pricing, a stronger dollar typically weighs on oil demand as it becomes more expensive for importers relative to their local currency.

₹224.05 apiece on the BSE. THIS COPY IS BEING UPDATED. KINDLY REFRESH"Exciting news! Mint is now on WhatsApp Channels

By Ankika Biswas and Shashwat Chauhan

Investing.com -- Stock futures inch down, hinting a possible reversal from a positive session on Monday, as Wall Street's main indices are on pace to post losses in September. Meanwhile, investors gauge developments in an ongoing budgetary stand-off in Washington, as Moody's (NYSE:MCO) warns that a potential government shutdown caused by the fight will be «negative» for the U.S.'s rating. Elsewhere, President Biden prepares to visit Michigan to show his backing for striking auto workers.

By Robert Harvey

Prime Minister Narendra Modi on Tuesday hailed the digital transformation and said that Aadhaar cards, digital lockers and eKYC have eliminated the complexity of documentation. While addressing the ‘Rozgar Mela’ via a video conference, PM Modi said, “In the last nine years, you have witnessed how technological transformation can ease governance." Modi noted that earlier, people used to stand in queues at the booking counters of railway stations. “Technology has overcome this problem.

₹549.00 apiece hit on September 25. In a regulatory filing on Monday, the company said its board has approved a scheme of arrangement among group entities to combine identified CDMO business of Strides, the identified CDMO business of Steriscience and the soft gelatin business under Stelis under one entity called OneSource.

BEIJING — Europe has launched an investigation into Chinese electric vehicle subsidies, but no assumptions should be made about the probe's outcome, the head of trade for the European bloc's executive branch said Tuesday.