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Markets cheer Moody's upgrade; Sensex up 236 pts, Nifty ends above 10,200

All that happened in today's trade

SI Reporter  |  New Delhi 

Benchmark indices ended higher on Friday after global rating agency Moody's Investors Service upgraded India’s sovereign rating to Baa2 from Baa3 and changed the outlook to stable from positive. This development that will give a big boost to Modi government, reduce the cost overseas borrowing and improve investments in India. Rating company, while justifying the upgrade said that the reforms undertaken by the government will "improve the business climate, enhancing productivity, stimulating foreign and domestic investment, and ultimately fostering strong and ...

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Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Sectoral trend: All but Nifty IT ended in green Source: NSE

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Sensex heatmap at close  Source: BSE

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Markets at close The S&P BSE Sensex ended at 33,342, up 236 points, while the broader Nifty50 settled at 10,283, up 69 points.  Index Current Pt. Change % Change   S&P BSE SENSEX 33,342.80 +235.98 +0.71   S&P BSE SENSEX 50 10,716.60 +71.27 +0.67   S&P BSE SENSEX Next 50 35,525.89 +414.18 +1.18   S&P BSE 100 10,743.38 +80.20 +0.75   S&P BSE Bharat 22 Index 3,723.21 +15.80 +0.43 Source: BSE

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Moody's boost to Modi: Should India really cheer?   The Narendra Modi government is celebrating the upgrade of India’s sovereign credit rating by Moody’s Investors Service. The new rating places India at Baa2, up a notch from Baa3. The outlook has also been raised from positive to stable, while other ratings, including the one for short-term local currency, have seen an upgrade by a notch each. READ FULL VIEW

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Centrum Broking on CARE Ratings    We have tweaked our estimates for FY18E/ FY19E marginally and are now building in 14.5%/ 13.9% CAGR in revenues/ EBIDTA over FY17-19E. We continue to like CARE for its business model and the free cash flow yield. Valuations at 22.4x FY19E EPS however limit near-term upside. Retain Hold with TP at Rs 1,560 (valued at 25x FY19E EPS). In our earlier notes, we have argued for higher valuation multiples for CARE (discount gap with peers to narrow) and we expect the trend to continue as more signs of superior growth get visible. We continue to prefer CARE as a proxy play to revival in rating opportunities. Lower-than-expected volume growth/ price reduction are key risks.

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Still short of best rating    Global rating agency Moody’s on Friday upgraded India’s sovereign bond rating by a notch to Baa2. This is the best for the country in the recent past, but India's sovereign ratings in late 1980s and 1990 were higher. The economy had a rating of A2 in 1988 which was downgraded by two notches to Baa1 in 1990. However, the rating in 1990 was still a notch higher than now. CLICK HERE FOR GRAPHIC

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Top five Nifty gainers  Source: BSE

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Markets check At 2:35 pm, the S&P BSE Sensex was trading at 33,397, up 290 points, while the broader Nifty50 was ruling at 10,298, up 83 points. 

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Buzzing stocks   Shares of real estate companies were in focus with DLF, Puravankara, Kolte Patil Developers, Sunteck Realty and Ajmera Realty hitting their respective 52-week highs on Friday. All these stocks were up in the range of 5% to 15% on the BSE in intra-day deal. READ FULL REPORT

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

Govt sets up panel to ensure GST benefits reach you   Angry that the stated benefits of GST have not reached you yet as a consumer? Perhaps it's the restaurant bill, which hits your pocket just as much as it did when 18 per cent GST was levied on AC restaurants. Maybe it's regarding the sundry items you need for everyday living. Now, the government has come up with measures to stop businesses from giving you a raw deal. READ MORE

Markets cheer Moodys upgrade; Sensex up 236 pts, Nifty ends above 10,200

'India's growth potential higher than other Baa economies'   Moody’s Investor Services on Friday upgraded India’s sovereign ratings by a notch to Baa2 from Baa3. In order to understand what factors prompted this upgrade, Business Standard spoke to William Foster, vice-president, Sovereign Risk Group, Moody’s Investors Service. READ FULL INTERVIEW

First Published: Fri, November 17 2017. 15:35 IST
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Markets cheer Moody's upgrade; Sensex up 236 pts, Nifty ends above 10,200

All that happened in today's trade

Benchmark indices ended higher on Friday after global rating agency Moody's Investors Service upgraded India’s sovereign rating to Baa2 from Baa3 and changed the outlook to stable from positive. This development that will give a big boost to Modi government, reduce the cost overseas borrowing and improve investments in India. Rating company, while justifying the upgrade said that the reforms undertaken by the government will "improve the business climate, enhancing productivity, stimulating foreign and domestic investment, and ultimately fostering strong and ...

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