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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Mon Dec 31, 2012 10:12am IST 

* The BSE index gains 0.1 percent while the NSE index
 is up 0.01 percent.
* Market is expected to remain volatile until U.S. lawmakers
reach a deal on tax-hike threshold and spending cuts, a positive
outcome could drive shares in the near term.
* Reliance Industries Ltd up 0.8 percent extending its
Friday's gains on value buying. 
* Wipro Ltd shares gain 1.3 percent after the company
said the shareholders have approved its demerger plan after a
meeting on Friday.
India Markets
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