Downgrade Warning

Construction workers work at a site as the sun sets in the northern Indian city of Chandigarh December 16, 2006. REUTERS/Ajay Verma/Files

S&P affirms negative outlook on India, says chances of downgrade remain

Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday.  Full Article 

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MARKET EYE-Maruti, M&M up on Nov vehicle sales

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Mon Dec 3, 2012 1:38pm IST 

* Shares in Maruti Suzuki India Ltd and Mahindra &
Mahindra Ltd gained on strong November vehicle sales.
* Maruti's November vehicle sales grew 12.5 percent on year to
103,200 units, sustaining the recovery in sales witnessed in
October. 
* Dispatches rose on the back of festive demand, particularly
for diesel vehicles and higher exports, brokerage Anandrathi
said in a note. 
*  Mahindra & Mahindra reported a 18 percent rise in November
sales to 48,143 vehicles and continued on a strong trajectory,
boosted by new launches and a large diesel portfolio, the
brokerage added. 
* Maruti shares rose 1.1 percent at 1,491 rupees, while Mahindra
& Mahindra shares gained 1.2 percent at 958 rupees.

 (manoj.dharra@thomsonreuters.com)
India Markets
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