India’s top fuel retailers IOC, BPCL and HPCL have together lost around $ 2.25 billion (Rs 19,000 crore) in revenue between November and March by keeping petrol and diesel prices unchanged despite a sharp rise in crude oil prices, Moody’s Investors Service said. Petrol and diesel prices remained unchanged between November 4, 2021, and March 21 despite prices of crude oil (raw […]
In a report published recently, Moody’s Investors Service has said the combination of steady progress in vaccinating people and rising government spending on infrastructure will support a sustained recovery in Indian economic activity. This, in turn, will give a fillip to demand for steel and cement required for infrastructure building and construction activities. Besides Moody’s, […]
Ratings agency Moody’s affirmed India’s sovereign rating and upgraded the country’s outlook to ‘stable’ from ‘negative’, citing receding downside risks to the economy and financial system. The sovereign rating by Moody’s stands at ‘Baa3’—which is the lowest investment grade, just a notch above junk status. “Moody’s Investors Service has today changed the outlook on the […]
Amid a raging second wave of COVID-19 and subsequent restrictions on business activities imposed by several states, economic recovery is beginning to lose steam and the country’s GDP growth is likely to be below nine per cent for the current fiscal, according to a survey. At least 80 per cent of the respondents expect consumer demand for non-essential items […]
The second wave of Covid infections poses a risk to India’s economic growth, but the impact will be less severe than last year, a Moody’s report said on Tuesday. It added that a focus on “micro containment” zones to deal with the current wave of infections, as opposed to a nationwide lockdown, would mitigate the economic […]
Thermal coal producers’ earnings are expected to improve in 2021 with domestic coal consumption forecast to increase between 5% and 10%, Moody’s Investor Services said. While the expected improvement should aid producers in modest debt reduction, secular demand will persist over the next few years, “straining credit quality for thermal coal producers and intensifying ESG-related […]
Steel maker JSW Steel has started producing hot-rolled plates at Dolvi Works plant in Maharashtra, JSW Steel said in a BSE filing. “On March 31, 2021, JSW Steel has commenced production of hot-rolled plates from the new 5 million tonnes per annum (MTPA) hot strip mill facility at its Dolvi Works,” it said. Located on the west […]
Moody’s has revised its ratings outlook for two of India’s largest steel companies—JSW Steel and Tata Steel—to stable from negative. JSW Steel late last month announced that it had completed a long-winded acquisition of Bhushan Power and Steel Limited (BPSL) by paying $2.6 billion to the debt-ridden company’s creditors. The company will now hold a 49% […]
India will need to boost its share of renewable energy to 16%-18% from 10% of the country’s total electricity generation if it wants to achieve a target of 175-gigawatts clean energy capacity by 2022, according to Moody’s Investors Service. The country is targeting a five-fold increase in renewable energy capacity to 450 Gigawatts by 2030. Despite missed […]
Global issuance of green, social and sustainability bonds – or sustainable bonds – will hit a record of $650 billion in 2021, a 32% increase over the $491 billion issued in 2020, according to Moody’s Investors Service. Still, the growth would be a moderation over the 52% growth achieved between 2019 and 2020, when sustainable bond […]
