S&P

Vedanta Resources Limited (VRL), the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has received a rating upgrade from S&P Global Ratings. The agency upgraded VRL's corporate family rating from 'B-' to 'B'. With this, VRL's rating by S&P has gone up by five notches from 'CC' in December last year. "We raised our issuer credit rating on Vedanta Resources Ltd. to 'B' from 'B-' and raised our issue ratings on the company's guaranteed bonds to 'B-' from 'CCC+'," the rating agency said. S&P said in its report that the upgrade comes after VRL obtained the minimum acceptances needed to close its consent solicitation exercise for 2028 bonds. "The stable outlook reflects our expectation that refinancing risks will be more manageable after the transaction given a newfound funding flexibility and improved capital market access," the agency said in its report. "The stable outlook also reflects the company's sound underlying operations, which should support internal cash .

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Raises inflation projection for FY25 to 4.6%

S&P Global Ratings on Monday revised down its estimate for India's economic growth in the next two financial years as high interest rate and lower fiscal impulse temper urban demand. In an update to its economic forecast for Asia-Pacific economies after US election results, the rating agency projected a 6.7 per cent GDP growth rate in 2025-26 financial year (April 2025 to March 2026) and 6.8 per cent in the following fiscal year, down from 6.9 per cent and 7 per cent, respectively in previous projections. For FY25, S&P Global pegged GDP growth rate at 6.8 per cent. "In India we see GDP growth easing to 6.8 per cent this fiscal year as high interest rates and a lower fiscal impulse temper urban demand. While purchasing manager indices (PMIs) remain convincingly in the expansion zone, other high-frequency indicators indicate some transitory softening of growth momentum due to the hit to the construction sector in the September quarter," it said. The agency expects India's GDP to

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According to S&P Global Mobility, growth for 2024 is projected to be even lower at 2.9%

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S&P Global now expects its 2024 adjusted earnings per share between $15.10 and $15.30, compared with the prior view of $14.35 to $14.60

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India is poised to be the third largest global economy by 2030 but rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday. It said emerging economies have high ambitions for the next decade and beyond with India aiming to become a USD 30 trillion economy by 2047, from the current USD 3.6 trillion. India is currently the fifth largest economy. "India is poised to be the fastest-growing major economy over the next three years and the third largest globally by 2030. Its 2024 entry into JP Morgan's Government Emerging Market Bond Index could provide additional government funding and unlock significant resources in domestic capital markets. This is only a first step --investors will continue looking for improved market access and settlement procedures," S&P said. In its report titled 'Look forward Emerging Markets: A decisive decade', S&P said emerging markets will play .

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India is on track to becoming the third-largest economy by 2030-31, driven by a projected annual growth rate of 6.7 per cent this fiscal, S&P Global said in a report on Thursday. The report also said that with 8.2 per cent growth rate in FY2024, continued reforms are crucial to improving business transactions and logistics, boosting private sector investment, and reducing reliance on public capital. It said equity markets are expected to stay dynamic and competitive due to strong growth prospects and better regulation, and foreign inflows into Indian government bonds have surged since the country joined major emerging market indexes, with further growth anticipated. To maximize trade benefits, India must develop infrastructure and geopolitical strategies, particularly regarding its extensive coastline, said the first edition of 'India Forward: Emerging Perspectives' report. Nearly 90 per cent of India's trade is seaborne, necessitating robust port infrastructure to manage ...

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