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India's GDP to grow 11% in FY22, contract 8% in FY21, says CRISIL

Read more about India s GDP to grow 11% in FY22, contract 8% in FY21, says CRISIL on Business Standard. GDP is likely to touch the pre-pandemic level only by the second quarter of fiscal year 2022 ....

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MIDHANI issues CPs worth Rs 50 cr to Union Bank of India


Mishra Dhatu Nigam (MIDHANI) has raised Rs 50 crore by allotting commercial papers to Union Bank of India on a private placement basis.MIDHANI has allotted 1,000 commercial papers (CPs) of face value Rs 5 lakh each and an issue price of Rs 4,95,540 each. The CPs hold tenure of 90 days. Credit rating agency CRISIL has rated the CPs at CRISIL A1+ .
MIDHANI is one of the leading manufacturers of super alloys, titanium & titanium alloys, special purpose steels and other special alloys. The Government of India held 74% stake in the company as of 31 December 2020.
On a consolidated basis, the company s net profit fell 1% to Rs 60.13 crore on a 9% decline in net sales to Rs 187.92 crore in Q3 FY21 over Q3 FY20. ....

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Crisil: Credit ratio nears 1 as rating upgrades pick up speed


Credit ratio nears 1 as rating upgrades pick up speed: Crisil
March 08, 2021
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Rating agency Crisil, on Monday, said its credit ratio (upgrades to downgrades) has been inching closer to 1 between October and February this fiscal, with a recovery in demand that has led to “guarded optimism” about the credit quality of India Inc.
“These five months saw as many as 244 upgrades compared with 208 for the whole first half,” it said, adding that downgrades continue to be material because the end of moratorium on debt servicing has impacted vulnerable companies.
According to Subodh Rai, Chief Ratings Officer, Crisil Ratings, the improvement in credit ratio was driven by more upgrades in moderately resilient sectors such as construction, engineering and electricity generation, which got support from the relaxation of lockdown, revival in demand and higher commodity prices. ....

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India Inc's credit ratio nears 1 as rating upgrades pick up speed: CRISIL

Read more about India Inc s credit ratio nears 1 as rating upgrades pick up speed: CRISIL on Business Standard. Near-term outlook cautiously optimistic, says the ratings agency ....

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