Archive for the ‘Finance News’ Category

The Reserve Bank of India (RBI) in its Mid-Term Review of Annual Policy Statement for the Year 2007-08 wiped out any hopes of interest rate easing in the near future, as it hiked Cash Reserve Ratio (CRR) i.e. the amount of money banks must hold in cash, by 0.5 per cent to 7.5% to suck out liquidity despite inflation at a five-year low. Good point about the CRR hike that it will stabilize liquidity and further hike in interest rates is unlikely. Full story

  During the glowing figures on Indian economic growth. CRISIL has come out with a surprising discovery that is downgrades are exceeding upgrades for the first time in last five years. So a downturn around the corner or CRISIL playing safe in view of inability of S&P to predict subprime crisis?? Full story

It is cheer time at Indian market. After encouraging report by Goldman Sachs on growth of India, S&P has added further cheer by upgrading sovereign India credit rating to Investment grade with stable out look. Full story

Naukri.com IPO is going to hit markets on 30th October. Infoedge (India) Ltd the promoter company of Naukri.com, Jeevansaathi.com, 99acres.com and executive search firm Quardangle is going to issues 5323851 equity shares at a price band of Rs 290 - 320 per share which is 29 - 32 times of the par value of the share. Full story

he three year period beginning 2003-04 has seen the Indian economy expand at an unprecedented average annual rate of over 8 per cent. With volatile agriculture, the industry and services sectors have emerged as stable and reliable drivers of overall GDP growth. The recent data also confirms that the growth momentum in India is becoming more broad based with both consumption and investment emerging as twin growth engines. Full story

Proposed public issue of 34 million equity shares at a targeted price of Rs 15-18 per share aggregating Rs 510-612 million CRISIL has assigned a CRISIL IPO grade "2/5" (pronounced "two on five") to the proposed initial public offer of Suryachakra Power Corporation Ltd (SPCL). This grade indicates that the fundamentals of the issue are below average relative to other listed equity securities in India. Full story

Standard & Poor's Ratings Services said today that it placed its 'BBB+' long-term foreign, 'A' long-term local, 'A-2' short term foreign, and 'A-1' short-term local currency sovereign credit ratings on the Kingdom of Thailand on CreditWatch with negative implications. Full story

Standard & Poor’s Ratings Services affirmed its 'AAA' long-term corporate credit rating on Singapore's Temasek Holdings Pte. Ltd. Full story

In its rating update on proposed merger of United western bank with IDBI, S&P has maintained that the merger will not impact its rating outlook but at the same time will impact financial profile of IDBI negatively. Full story

A study by CRISIL reveals that the steady fiscal gains state governments have made since 2000, and expect to make going ahead, are under threat. Full story