Moodys Financial News

₹129.70 against the previous close of ₹127.35 and soon rose over 2 per cent to the level of ₹130.05 on BSE. Moody's Investors Service, a global rating agency, on Monday (September 25) upgraded the corporate family rating of Tata Steel from ‘Ba1’ to ‘Baa3’ and changed the outlook to ‘stable’ from ‘positive’.

Tata Steel: Moody's Investors Service upgraded Tata Steel's long-term issuer rating to Baa3, the lowest investment grade rating, citing the company's solid market position and expectation of an increase in profitability. The global rating agency also changed the outlook to "stable" from "positive". Moody's said the stable rating outlook reflects Tata Steel's strengthening credit metrics.

Tata SteelRatings agency Moody's Investors Service on Monday upgraded Tata Steel to investment grade and assigned a Baa3 long-term issuer rating.Delta CorpAshish Kacholia has sold stake in Delta Corp Ltd through bulk deals on Monday. The ace investor has offloaded about 15 lakh shares 0.56% in the company at Rs 144.65 apiece, according to exchange data.Read more: Here's the trading setup for today's sessionKM Sugar MillsK M Sugar Mills approved the re-appointment of L K Jhunjhunwala as the chairman of the company and Aditya Jhunjhunwala as the Managing Director.SMC Global SecuritiesSMC Global Securities has joined hands with Ujjivan Small Finance Bank to offer online trading services to the Bank’s customers.Welspun CorpWelspun Corp wholly-owned subsidiary Sintex BAPL has entered into an MOU with Telangana government to set up a manufacturing unit in the state with upto Rs 350 crore investment.Strides PharmaStrides Pharma's Singapore-based wholly owned step down subsidiary Strides Softgels Pte will acquire its CDMO business and Soft Gelatin business from its another wholly owned subsidiary Strides Pharma Global Pte (SPG).Century TextilesCentury Textiles arm Birla Estates launches residential project in Bengaluru.

Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday. The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable. «A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world.

Also read: Don't have a PAN or Aadhaar number? You cannot claim an income tax refund The Union Ministry of Electronic and IT said that Moody's report "does not cite either primary or secondary data or research in support of the opinions presented in it". Moody's in its report had said that Aadhaar's system often results in service denials, and questioned the reliability of biometric technologies, especially for manual labourers.

Tata Steel's resolution plan for its UK operations has earned it favor from credit rating agencies as they see the outcome strengthening the steel-maker's cash position and limiting the drain to earnings at a consolidated level, while allowing its credit profile to remain steady even if steel prices turn soft. Moody's has upgraded the long-term issuer rating for the company to investment grade 'Baa3' on Monday, while CreditSights said that the deal would be a 'mild credit positive' for Asia's oldest producer of the alloy. Earlier this month, Tata Steel announced the much-awaited resolution plan for its operations in the UK.

By Davide Barbuscia

British Open Snooker 2023 begins at The Centaur in Cheltenham. Mark Selby, John Higgins and Shaun Murphy will come in the evening. It will be the third-ranking event of the 2023/24 snooker season so far. It will also be the latest opportunity for the players to win prized silverware and take lucrative sums of money home.

By Karl Badohal, Pawel Florkiewicz and Gergely Szakacs

BEIJING (Reuters) — Police in southern China have detained some staff at China Evergrande (HK:3333) Group's wealth management unit, suggesting a new investigation that could add to the property giant's woes.

Greece’s economy has received a substantial vote of confidence from Moody’s ratings agency, which has upgraded the Greek credit rating by two notches

Interior design has experienced significant growth and mainstream acceptance in recent years. The demand for professional interior design services continues to rise, and the industry is poised for further expansion as people increasingly prioritize well-designed living and working spaces, says Karishma Trehan, Director, Karishma Trehan Designs.

Asian stocks rose strongly on Friday, extending a global equity rally, after better-than-expected Chinese economic data added to the good vibes from expectations that tightening campaigns by the world's biggest central banks were close to over. The dollar stuck close to a six-month peak from overnight against major peers, buoyed by robust U.S. economic data, while the euro sagged following the European Central Bank's signal that Thursday's rate hike was probably the last this cycle. Crude oil hit a fresh 10-month top. MSCI's broadest index of Asia-Pacific shares rallied 0.84%. Japan's Nikkei jumped 1.33% to a two-month high. Hong Kong's Hang Seng added 1.2%, and mainland Chinese blue chips rose 0.2%, flipping from early small losses. Australia's stock benchmark surged 1.75%. U.S.

Citigroup embarks on a sweeping reorganization, support staff in compliance and risk management are among the most likely to lose their jobs, according to sources familiar with the situation. Technology staff working on overlapping functions are also at risk of being laid off, one of the people said.Citi managers are already convening discussions with employees about potential layoffs, according to the sources, who declined to be identified discussing personnel matters. One-on-one meetings about departures were also starting, one of the sources said. Citigroup declined to comment. The conversations come after the third largest U.S.

BEIJING — China's National Bureau of Statistics was set Friday to release economic data for August, a day after a surprise rate cut to aid its faltering economy.

China's crisis-hit property sector's outlook to negative from stable, citing economic growth challenges the ratings agency said would dampen sales despite government support. Moody's said it expected contracted sales to fall by about 5% over the next six to 12 months in China, and the impact of government measures to boost property purchases was likely to be short-lived and uneven. The outlook downgrade comes amid a string of debt defaults by cash-squeezed developers.

Olivia Rodrigo will launch her 'Guts' World Tour in North America and Europe in February 2024 and it will come to an end in August. The tour will go across North America for six weeks before moving to Europe. It will return to North America in May before concluding in Rodrigo’s hometown of Los Angeles. The tour will feature opening acts, performed by young women. British dance-pop singer PinkPantheress, Los Angeles-based pop singer Chappell Roan, and California pop-rock singer Remi Wolf will produce the opening acts. Ex-Pixies singer Kim Deal will lead the Breeders band which will produce a string of radio and video hits. The American singer made her VMA debut in 2021 as she performed her Billboard Hot 100 No. 1 hit 'Good 4 U.'

During the pandemic, shoppers splurged on higher-end new cars. Now, given the current high car costs and interest rates, drivers are shifting their focus to less expensive models. Finding one, however, might not be easy.

DBRS Morningstar ratings agency has upgraded Greece’s credit rating to investment grade

Tyler Childers, the singer-songwriter, is set to embark on his Mule Pull '24 tour in 2024 to support his upcoming album, Rustin’ In The Rain, releasing on September 8. The tour begins in Europe and then moves to North America. Fans in England, Scotland, Ireland, Germany, Denmark, Netherlands, Sweden, and Norway can attend his concerts. The North American concert ticket presale is ongoing, with registration closing on September 10 at 11:59 pm ET. Registering on Tyler Childers' official website grants access to the Verified Fan presale on September 13. The Europe and UK show presale will also be on September 13, with tickets available at tylerchildersmusic.com.

By Carolyn Cohn