Corporates can also simplify or reorganise complex group structures without the interference of minority shareholders through such moves, the agency said
After India downgrade, agency reduces long-term deposit ratings of 11 banks
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
Today, a total of 21 companies, including Dabur India, Sun Pharma, and United Spirits are scheduled to announce their results.
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
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
The size of the SLF-MF appears broadly commensurate with the scale of the funds most at risk, Fitch notes
Moody's Investors Service has slashed India's growth forecast for calendar year 2020 to 0.2 per cent, from 2.5 per cent projected in March
From Spain's death toll dropping, to Branson saying his airlines would go bust without govt support, and how using masks is altering the way we communicate - read these and more in today's dispatch
Fitch Solutions also anticipated a deeper contraction in fixed investments as businesses choose to cut back on capital expenditure to conserve cash amid elevated economic uncertainty
"The government lacks the fiscal space. It will not be feasible to give grants to the industry to take care of its wage bills," sources said.
The rating came as the Department of Labour reported unemployment claims surging to 3.3 million in the week ending March 21 after the pandemic caused many businesses to close
Increasing challenges from the pandemic are expected to worsen an already difficult operating environment, Fitch said
The GDP growth is forecast to recover slightly to 5.4 per cent in 2020-21 (April 2020 to March 2021)
The agency said that it believes that the weak domestic demand for new vehicles will see India's vehicle production continue to contract in 2020
The RBI held its benchmark repurchase (repo) and reverse repo during its February 6 monetary policy meeting at 5.15 per cent and 4.90 per cent respectively
While an e-commerce policy is still in the works, it is likely to take effect in March, Fitch Solutions said in a statement
Iron ore supply growth woul be primarily driven by India, Brazil where major miner Vale is set to expand output with its new mine
In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of CEO for a year
Meanwhile, China remains by far the largest global consumer of copper despite consumption faltering this year due to rising trade tensions with the US