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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-Indian shares gain; Hindustan Unilever fall, autos gain
* The BSE index 0.18 percent up while the NSE index gains 0.21 percent. * The traders are cautious and await outcome of inflation data on Friday for more clarity on central banks policy meet next week. * A Reuters poll of 32 economists taken over the past week showed they expect wholesale prices rose 7.60 percent in November from a year earlier, compared with 7.45 percent in October. Forecasts ranged from 7.12 percent to 8.10 percent. * Shares of Hindustan Unilever down 1.4 percent following news that Unilever's Indonesian subsidiary has agreed to pay a higher royalty payment to Unilever Plc. * Auto shares were leading the gains on expectation of higher sales in December due to year end discounts that are offered by the auto companies. * Tata Motors rose 2.5 percent while Maruti Suzuki gains 1.2 percent * India raised $1.1 billion selling a stake in miner NMDC Ltd in a fillip for its efforts to rein in a widening fiscal deficit through sales of state assets. NMDC gained 2.5 percent. (manoj.dharra@thomsonreuters.com)
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