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-Indian shares fall; banks retreat ahead of RBI review

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Tue Jan 29, 2013 10:13am IST 

* The BSE index is down 0.14 percent and the 50-share
NSE index is down 0.07 percent.   
* Some doubts creeping in about whether the RBI will indeed cut
the repo rate by 25 bps as widely expected after a central bank
report on Tuesday noted sustained fiscal consolidation was
needed to create room for monetary easing. 
* State Bank of India falls 0.2 percent, while HDFC
Bank Ltd is down 0.9 percent. 
* Among other rate-sensitive stocks, Tata Motors Ltd 
falls 1.2 percent, while real estate developer DLF Ltd 
is down 1.1 percent.
* However, Axis Bank Ltd gains 3.2 percent as dealers
cite good demand for its share sale of up to $1 billion.
 

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
India Markets
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