Earlier this month, Moody's cut the country's sovereign credit rating by a notch to the lowest investment grade with negative outlook
These six include Indian Oil Corporation, Hindustan Petroleum Corporation, Oil India, Petronet LNG, Bharat Petroleum Corporation and Oil and Natural Gas Corporation, the ratings agency said
Currency dealers say the Reserve Bank of India (RBI) intervened in the currency markets, and may have even bought some bonds anonymously from the secondary markets.
Stock markets generally discount an outcome a few months in advance. They might have seen the bottom in March, unless a more ferocious second wave results in a fresh lockdown, writes Ambareesh Baliga
'It was expected that Moody's would align back India's rating with Fitch and S&P'
The change brings Moody's rating into line with Fitch and Standard and Poor's, both of which rate India BBB-, although they assign stable rather than negative outlooks
To use it as collateral, along with forex reserves, to print currency
Debt of Centre and states combined is over 70% of GDP already; country is currently just a notch above junk
Physical sales were very limited due to the lockdown and sovereign gold bonds were one of the few avenues available to invest in the precios metal
Irrespective of which among the two is more extravagant, it is the country's GDP growth and its rating that take a beating
Pre-election spending has led to fiscal slippage by a modest margin
With the benefit of hindsight, it seems that the agencies adopt different criteria while evaluating different countries as is evident from the changes in ratings of developed and developing countries