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IndRa affirms NHPC and its NCDs at IND AAA'; Outlook Stable

Press Trust of India  |  New Delhi 

Ratings and Research (Ind- Ra) has affirmed state run hydro power giant NHPC Long-Term Issuer Rating at 'IND AAA' with stable outlook.

The NHPC operates its plants on the cost-plus regime, which provides a post-return on equity of 15.5-16.5 per cent, along with reasonable recovery of all costs, Ratings said in the statement.

This allows for high flow predictability. Ind-Ra expects its upcoming plants to be operational under the same tariff regime, thereby reducing business risks, it said.

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posts 49.9 pc decline in Q1 profit * Cosmo Films, a manufacturer of biaxially oriented polypropylene (BOPP) films, today reported a decline of 49.94 per cent in consolidated net profit at Rs 9.14 crore for the quarter ended on June 30, 2017.

The company had posted a net profit of Rs 18.26 crore during April-June quarter a year ago, said in a filing.

Total during the quarter under review stood at Rs 472.14 crore, up 15.26 per cent, as against Rs 389.84 crore of the corresponding quarter a year ago period.

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HUL ranked at top in most innovative companies' list * FMCG major Hindustan Unilever Ltd (HUL) has been ranked number one in on the Forbes list of 'The World's Most Innovative Companies 2017'.

Two Indian companies, HUL and Asian Paints have been featured in the Top 10 Most Innovative Companies in the World.

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Boodmo gets Rs 10 cr funding

* Boodmo, an online retailer for automotive spare parts, has received a funding of Rs 10 crore so far, the company said in a statement.

Founded in the year 2015 by two entrepreneurs from Ukraine Yevgen and Oleksandr, it offers more than 1,000 national and international brands.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 19:14 IST