Page 10 - Care Ratings

CARE ratings sees higher counterparty risk from Telangana discoms

CARE Ratings has maintained a negative outlook for 13 solar generators that are selling electricity to financially-stressed distribution companies (discoms) in Telangana

CARE Ratings MD Rajesh Mokashi resigns, TN Arun Kumar to act as interim CEO

CARE Ratings on Friday said its Managing Director Rajesh Mokashi has tendered his resignation. Mokashi was sent on leave by the company in July. The order had said that he would be on leave till the company had examined an anonymous complaint against him sent to the Securities and Exchange Board of India (Sebi). "While the board of CARE Ratings at today's (Friday) meeting have taken on record the said resignation, the same is without prejudice to the ongoing examination of anonymous complaints forwarded to CARE Ratings Ltd and any action, if required to be taken pursuant thereto," the rating agency said in a regulatory filing. T N Arun Kumar will continue to act as the interim chief executive officer of the company. It was reported that the complaint on ICRA was about interference by the rating firm's top executives in assigning top investment-grade ratings to Infrastructure Leasing and Financial Services (IL&FS) and its subsidiaries last year. The government had removed ...

CARE downgrades PC Jeweller deposits to 'B' on stressed liquidity

Significant erosion in m-cap since 2018 had a weakening effect on PCJ's financial flexibility and its liquidity

CARE downgrades Dish TV's short term ratings on weak liquidity position

The company also has sizeable debt repayments in the near term

CARE downgrades rating on Vodafone-Idea's long-term bank facilities, NCDs

The credit rating has been revised to BBB- from A- on long term bank facilities and to BBB- from A- in case of non-convertible debentures

Sidestepping growth slowdown: Upscale business hotels see surge in bookings

However, according to industry estimates, there is a shortage of close to 100,000 rooms across different categories

Finance, IT lead in job creation, capital-intensive sectors in cuts: CARE

The report shows that job growth, which had picked up by 2016-17, slumped in the two succeeding years - 2017-18 and 2018-19

Weak corporate earnings in H1 FY20 reflect overall economic slowdown: CARE

The growth in power and fuel cost witnessed a significant moderation from 16.5% in H1 FY19

Employment growth has slowed in last two years: CARE Ratings study

Financial sector's performance has by far been most impressive with banks

Oct wholesale inflation at 40-month low of 0.16% on cheaper non-food items

The previous low was in June 2016, when inflation was negative 0.1 per cent. Deflationary pressure on manufactured product prices

MFs' exposure to NBFCs down 30% in 15 months since IL&FS crisis broke out

Fund houses have particularly pruned exposure to troubled NBFCs

Voda Idea shares fall on rating downgrade, pare losses to end 2% higher

The stock slumped 13.12 per cent to its 52-week low of Rs 3.31 apiece on BSE

CARE downgrades rating on Vodafone Idea's loans in view of SC's AGR verdict

The ratings continue to be tempered by high debt level, declining subscriber base trends, regulatory risks and prevalent intense competition in the Indian telecom industry

CARE downgrades rating on Vodafone Idea's NCDs, long-term bank facilities

Earlier on Wednesday Fitch Ratings placed Bharti Airtel Ltd on 'rating watch negative' over unpaid regulatory dues arising from a recent Supreme Court ruling

Payment of principal obligations for NCD had been delayed: Reliance Capital

The payments were due on Wednesday and Thursday, the company said in regulatory filing.

Downward spiral: Industrial output shrinks by 1.1%; at nearly 7-year low

The Index of Industrial Production (IIP) is now expected to remain muted this fiscal year

Firms opting for private placements, rather than issuing bonds in public

The main reason for this is the near absence of NBFCs from the market.

Copper in India to lose sheen due to demand-supply mismatch: CARE

India has emerged as an importer of copper ore and concentrates and imports more than 90 per cent of its concentrate requirements due to lack of copper mines in the country

Reliance Capital protests after rating agency downgrades debt to 'default'

Reliance, headed by business tycoon Anil Ambani, however, said funds had been arranged by the due date and the delay was due to technical glitches in the bank's servers

IL&FS fallout: Mother Dairy loses CARE's triple-A credit rating

Mother Dairy had to make a impairment provision of Rs 190.85 crore from the investments in IL&FS in the form of unsecured short-term inter-corporate deposits