Downgrade Warning
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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MUMBAI, Dec 28 (Reuters) - India shares provisionally ended
higher on Friday led by gains in oil companies including ONGC
following media reports the petroleum ministry has proposed
gradually raising diesel prices.
Oil and Natural Gas Corp gained 2.9 percent, while
Hindustan Petroleum Corp Ltd gained 4.43 percent.
Reliance Industries gained 3.22 percent as the stock was
seen to have under-performed this year.
The BSE index gained 0.68 percent, while the NSE
index rose 0.65 percent.
(Reporting by Manoj Dharra; Editing by Rafael Nam)
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