Page 4 - Fitch

Top headlines: EPFO to pay in instalments, Silver Lake to invest in RIL

Business Standard brings you the top headlines of the day

Private banks likely to gain market share from state-owners peers: Fitch

Fitch Ratings said private sector banks, with stronger loss-absorption buffers, are likely to gain market share from their state-owned peers in the medium term

Indian automakers' demand outlook cloudy despite respite in July: Fitch

The pandemic has also reduced the availability of financing as lenders exercise caution, particularly to weaker borrowers that form a significant customer base for CVs

Bahrain gets first rating downgrade in 2 years, says need more Gulf aid

Fitch on Friday cut Bahrain's sovereign rating one step to B+, leaving it four levels below investment grade

Debt recast may reduce transparency, hinder capital raising: Fitch

Private investors may be reluctant to participate in sale of stakes in state-owned lenders until impact of pandemic on their balance sheets is clear, agency says

Fitch affirms Indian Oil Corporation at BBB-minus with negative outlook

The agency has also affirmed IOC's senior unsecured rating and the ratings on its outstanding senior unsecured debt at BBB-minus

Fitch revises outlook on 9 Indian banks' IDRs from stable to negative

Action follows change in outlook on India's rating

Covid-19: India's biggest single-day jump, steroid dexamethasone approved

The World Health Organisation welcomed the UK's low-cost steroid, dexamethasone, after its successful trial

Delisting may create governance issues in companies, warns Fitch

Corporates can also simplify or reorganise complex group structures without the interference of minority shareholders through such moves, the agency said

Covid-19 impact: Moody's cuts rating for SBI, HDFC Bank to 'Baa3'

After India downgrade, agency reduces long-term deposit ratings of 11 banks

After Fitch and CRISIL, S&P projects Indian economy to contract 5% in FY21

New cases have been averaging more than 6,000 a day over the past week as authorities begin easing stringent lockdown restrictions gradually to prevent economic costs from blowing out further

Market Ahead, May 27: All you need to know before the opening bell

Today, a total of 21 companies, including Dabur India, Sun Pharma, and United Spirits are scheduled to announce their results.

Fitch forecasts 5% contraction of Indian economy over slump, lockdown

Fitch said it has made further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO) for May, but the slump in global economic activity is close to reaching its trough

Fitch highlights India's two big challenges in fight against coronavirus

The significant inefficiency, dysfunctioning and acute shortage of the healthcare delivery systems in the public sector do not match up with the growing needs of the population, says the report

RBI's liquidity support for MFs may struggle to be effective: Fitch

The size of the SLF-MF appears broadly commensurate with the scale of the funds most at risk, Fitch notes

Market Ahead, April 29: Top Factors That Could Guide Markets Today

Moody's Investors Service has slashed India's growth forecast for calendar year 2020 to 0.2 per cent, from 2.5 per cent projected in March

World coronavirus dispatch: US firms slashing costs; salary cuts at Disney

From Spain's death toll dropping, to Branson saying his airlines would go bust without govt support, and how using masks is altering the way we communicate - read these and more in today's dispatch

Covid-19: Fitch cuts India's FY21 GDP growth forecast to 1.8% from 4.6%

Fitch Solutions also anticipated a deeper contraction in fixed investments as businesses choose to cut back on capital expenditure to conserve cash amid elevated economic uncertainty

Govt unlikely to grant any package for industry to pay workers' salaries

"The government lacks the fiscal space. It will not be feasible to give grants to the industry to take care of its wage bills," sources said.

Fitch maintains US AAA rating despite rising unemployment due to Covid-19

The rating came as the Department of Labour reported unemployment claims surging to 3.3 million in the week ending March 21 after the pandemic caused many businesses to close