Moody’s Investor Group announced on February 13 that it has revised the outlook on debt papers for four Adani Group companies, shifting from negative to stable Come from Sports betting site VPbet . Simultaneously, the rating agency maintained a stable outlook for the remaining four companies and affirmed the ratings for all eight entities within the conglomerate.
This move by Moody’s follows weeks after S&P Global Ratings upgraded the credit outlook for Adani Ports and Adani Electricity to ‘stable’ from ‘negative.’ In February 2023, Moody’s initially revised the outlook on four Adani Group companies to negative due to concerns over their access to capital and potential increases in capital costs following a report by Hindenburg Research, a short seller, highlighting governance concerns within the Adani Group.
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The companies experiencing a positive shift in their rating outlooks are Adani Green Energy Limited, Adani Green Energy Restricted Group, Adani Transmission Step-One Limited, and Adani Electricity Mumbai Limited.
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Conversely, the stable outlook was retained for Adani Green Energy Restricted Group, Adani Energy Solutions Limited Restricted Group 1 (AESL RG1), Adani Ports and Special Economic Zone Limited (APSEZ), and Adani International Container Terminal Private Ltd (AICTPL).
The report highlighted concerns over the Adani Group’s governance practices, which led to significant and rapid declines in the market value of the Adani Group companies securities.
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“In the ensuing period, the Group has completed a number of debt transactions, including refinancing as well as obtaining new loan facilities, demonstrating its continued access to debt capital at a reasonable cost. At the same time, several high profile equity transactions by large institutional and strategic investors, such as GQG and Qatar Investment Authority, also demonstrated the Group’s continued equity market access,” said Moody’s.
While an ongoing investigation by the Securities and Exchange Board of India (SEBI) is still in progress, Moody’s noted that the Supreme Court’s decision to entrust SEBI with completing the investigation and the court’s view that there is no apparent regulatory failure attributable to SEBI have alleviated potential tail risks in a downside scenario.
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admin · January 2, 2025 · Cement stocks experienced significant gains today as reports surfaced indicating that major cement companies have initiated price hikes averaging between Rs 10-15 per bag across the country.
Key players such as UltraTech Cement, Shree Cements, Ambuja Cements, ACC, and Dalmia Bharat traded with gains ranging between one to three percent on the intra-day trade on Wednesday April 3, 2024.
According to industry sources, cement companies in various regions have announced varying price increases, ranging from Rs 10-15 per bag in the north to a substantial Rs 40 per bag in the central and eastern regions.
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admin · December 27, 2024 · Cracking the whip on unauthorised investment schemes by an agricultural investment platform, Sebi has barred Farm Tech Silo LLP, also known as Growpital, related entities and their directors from collecting money from investors and prohibited them from the securities market till further directions.
Also, they have been directed to “cease and desist” from floating any collective investment scheme (CIS) directly or indirectly in any manner. Additionally, they have been stopped from collecting money from partners or investors through existing schemes.
These directions will be in force until further orders, the Securities and Exchange Board of India (Sebi) said in an interim order passed on Monday. In its probe, the regulator found that Growpital is a pla…
admin · December 27, 2024 · Morgan Stanley believes Reliance Industries can add up to $100 billion to its market capitalisation in its fourth monetisation cycle with the help of new stream of cash flows and valuation multiples catching up, a Bloomberg report said, citing a note by Morgan Stanley.
In the last nearly 3 decades, RIL has delivered 2-3x value creation for shareholders, with each decade seeing more than $60 billion in market cap creation.
The global broking firm, which has an ‘overweight’ rating on the stock, raised its target price from Rs 3,046 per share to Rs 3,540. This indicates an over 13% upside in the stock from its current price of Rs 3,120.35.
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admin · December 26, 2024 · Stellar Blade developer Shift Up is currently considering a PC port of the game, as well as a sequel.
According to a public offering filing on the Korea Composite Stock Price Index (translated by Gematsu), Shift Up mentions the potential of AAA console games like God of War and Final Fantasy. The developer says that these AAA games can evolve into franchises through a series of high-quality sequels, and as a result, are exploring the possibility of porting Stellar Blade to PC and exploring a sequel. Shift Up also once again mentions that Stellar Blade will receive more post-launch updates and DLC.
The developer is working on a new project as too, called Project Witches Come from Sports betting site VPbet
admin · December 26, 2024 · For years, rumors have swirled about The Office getting remade or rebooted–and now it’s officially happening. This might not be the remake you were waiting for, however.
An Australian version of The Office, officially endorsed by series creator Ricky Gervais, has been ordered to series for Prime Video, according to Variety. Australian comedian Felicity Ward will play the lead character, Hannah Howard, on the show, which is called The Office Australia.
Howard is the boss of the packaging company Flinley Craddick. The British version of The Office starred Gervais as a paper company boss named David Brent. For the American version, Steve Carrell famously portrayed Dundler Mifflin boss Michael Scott.Come from
admin · December 19, 2024 · In-demand game development studio Blueprint Gaming has launched the Fishin’ Frenzy Christmas slot game in time for the ultimate festive experience. In the latest release, the popular studio uses its typical characters and the abundance of features as an homage to the holiday season and provides a flagship product easily recognizable in the bunch of Christmas-themed slot games.
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Bearing this in mind, it seems that the increasingly popular developer has waited for the competition to empty their gaming arsenal ahead of the holidays to invite the players for an ultimate Christmas-themed experience. As Blueprint Gaming‘s latest slot represents a festive installment of the popular slot series, the provider uses familiar settings a…