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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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L&T needs to announce 54 billion rupees projects: Jefferies
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Reuters Market Eye - Jefferies says Larsen & Toubro needs to announce additional projects worth 54 billion rupees this month to meet expected order flow of 180 billion rupees for the third-quarter of 2013.
The investment bank says that 15 percent on year order flow growth is "required to sustain valuations".
"We maintain that outlook for FY14E remains difficult and upside will be capped," Jefferies said in a note.
Shares of Larsen & Toubro were down 0.8 percent at 2:41 p.m.
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