Moody’s forecasts lower GDP fall for India in FY21; Morgan Stanley too projects lower contraction

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India’s latest round of stimulus measures shifted focus back to longer-term growth by focusing on manufacturing and job creation, global rating agency Moody’s said, as it predicted a 10.6% contraction in the country’s real GDP in FY21, against a 11.5% drop forecast earlier. India’s economy has started to heal as is evident by a significant […]

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Asia’s slowing energy demand to hit coal producers

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Asia’s slowing energy demand growth will impact coal power producers the hardest with governments tightening environmental standards and introducing policies to drive renewable energy, Moody’s Investors Service said on Thursday. “For coal power producers, tariff schemes to compensate for lower dispatch volumes or strategies to diversify their energy mix away from coal power are increasingly important,” […]

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India’s new fiscal stimulus shifts focus back to longer-term growth, says Moody’s

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India’s recent $36 billion-worth economic stimulus measures that aim to boost manufacturing and create more jobs present a potential upside to the country’s economic growth forecasts, Moody’s said in a report on Thursday. Only about a week ago, the global ratings agency had revised upwards its previous growth forecast for the South Asian nation. It had […]

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Moody’s says India’s economic contraction this fiscal will be less than forecast

India’s GDP will contract by 8.9% during the current April-March financial year instead of a previous forecast of 9.6%, according to Moody’s Investors Service. The ratings agency has also revised up the nation’s projected growth for the next financial year to 8.6% from a previous forecast of 8.1%. The global economic recovery over the coming year […]

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Global outlook for steel industry turns stable from negative : Moody’s

Global demand for steel is picking up as pandemic-related lockdowns have eased and industries are resuming production, turning their outlook to stable from negative, says Moody’s Investors Service. “Demand for steel is improving on a resumption of production in important end markets and on stronger global economic data, particularly in China,” said Carol Cowan, a Moody’s […]

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Rating agencies say natural gas production in India is likely be loss-making on price cut

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Natural gas production in India remains a loss-making proposition for most fields after the government cut gas price by a steep 25 per cent, rating agencies said. “The reduction in gas price to $ 1.79 per metric million British thermal unit (mmBtu) from USD 2.39 is credit negative for upstream companies such as Oil and Natural Gas Corporation […]

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