Page 6 - Fitch

Price hikes to dampen recovery prospects for Indian automakers: Fitch

Hikes come at a time when boost in some categories from pent-up demand and festive spending fades, and the economic impact from the pandemic reasserts itself, rating agency says

Fitch now expects lower GDP contraction in India at 9.4% for FY21

Says Covid vaccines aren't likely to reach majority even in a year, Cautions against weak balance sheets, challenges in financial sector

Fitch revises India's FY21 GDP contraction forecast from 10.5% to 9.4%

The projections compare to a GDP growth of 4.2 per cent in 2019-20 (April 2019 to March 2020) fiscal and 6.7 per cent annual expansion between 2015 and 2019

Pandemic-driven reform agenda can raise India's medium-term growth: Fitch

For the current fiscal, Fitch Ratings has projected a 10.5 per cent contraction in Indian economy

Fiscal deficit may hit 8% of FY21 GDP on additional govt borrowing: Experts

The development comes at a time when the economy is limping back to normalcy after a stringent lockdown that lasted over two months

Fitch says BPCL privatisation is 'event risk' over little info on bidders

Fitch Ratings said the potential privatisation of BPCL is an "event risk" as there is little information about bidders and potential transaction structure

Top headlines: EPFO to pay in instalments, Silver Lake to invest in RIL

Business Standard brings you the top headlines of the day

Private banks likely to gain market share from state-owners peers: Fitch

Fitch Ratings said private sector banks, with stronger loss-absorption buffers, are likely to gain market share from their state-owned peers in the medium term

Indian automakers' demand outlook cloudy despite respite in July: Fitch

The pandemic has also reduced the availability of financing as lenders exercise caution, particularly to weaker borrowers that form a significant customer base for CVs

Bahrain gets first rating downgrade in 2 years, says need more Gulf aid

Fitch on Friday cut Bahrain's sovereign rating one step to B+, leaving it four levels below investment grade

Debt recast may reduce transparency, hinder capital raising: Fitch

Private investors may be reluctant to participate in sale of stakes in state-owned lenders until impact of pandemic on their balance sheets is clear, agency says

Fitch affirms Indian Oil Corporation at BBB-minus with negative outlook

The agency has also affirmed IOC's senior unsecured rating and the ratings on its outstanding senior unsecured debt at BBB-minus

Fitch revises outlook on 9 Indian banks' IDRs from stable to negative

Action follows change in outlook on India's rating

Covid-19: India's biggest single-day jump, steroid dexamethasone approved

The World Health Organisation welcomed the UK's low-cost steroid, dexamethasone, after its successful trial

Delisting may create governance issues in companies, warns Fitch

Corporates can also simplify or reorganise complex group structures without the interference of minority shareholders through such moves, the agency said

Covid-19 impact: Moody's cuts rating for SBI, HDFC Bank to 'Baa3'

After India downgrade, agency reduces long-term deposit ratings of 11 banks

After Fitch and CRISIL, S&P projects Indian economy to contract 5% in FY21

New cases have been averaging more than 6,000 a day over the past week as authorities begin easing stringent lockdown restrictions gradually to prevent economic costs from blowing out further

Market Ahead, May 27: All you need to know before the opening bell

Today, a total of 21 companies, including Dabur India, Sun Pharma, and United Spirits are scheduled to announce their results.

Fitch forecasts 5% contraction of Indian economy over slump, lockdown

Fitch said it has made further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO) for May, but the slump in global economic activity is close to reaching its trough

Fitch highlights India's two big challenges in fight against coronavirus

The significant inefficiency, dysfunctioning and acute shortage of the healthcare delivery systems in the public sector do not match up with the growing needs of the population, says the report