Consumption story drives India Inc's credit quality even before the festive season
India Inc's credit quality has improved in the first half of FY24 due to strong domestic consumption and investment-focused sectors, according to a report by ICRA. Both investment grade and non-investment grade categories saw an improvement in their credit profiles, with sectors such as hospitality, auto components, power, realty, roads, and financials accounting for nearly half of the total upgrades. Key Points
Economic TimesIAF's Sukhoi fighter jets to get a Rs 60,000 crore booster: Here are all the upgrades for the new Su-30MKI
The Defence Ministry has approved a Rs 60,000 crore upgrade of India's Su-30MKI fighter jet fleet, led by HAL and supported by DRDO. This project aims to enhance the aircraft's capabilities with new radars, mission control systems, and weapon systems, reflecting India's push for self-reliance in defence manufacturing. The upgrade will include the integration of indigenous systems, such as a new radar system and electronic warfare capabilities, improving air-to-air and air-to-ground targeting. Key Points
Economic TimesMore junk-rated companies downgraded than upgraded in October -JPM
More U.S. high-yield bond issuers saw downgrades to their credit ratings than upgrades last month, JPMorgan (JPM.N) said in a research report. Key Points
ReutersSBI's NPAs are not a worry; stock facing unfair treatment: Mahantesh Sabarad
At least from the headline numbers of NPA, it tells us that there does not seem to be any worry. We will have to look at the granularity in terms of what are the slippages and what are the upgrades. Possibly the upgrades would have been better this time around relative to the other quarters. Key Points
Economic TimesCredit quality of India firms improve in FY'23: Rating firms
For Crisil, In all, there were 460 upgrades and 210 downgrades across sectors in the second half of FY2023. While the upgrade rate fell 320 basis points from the first half, and stood at 13.46%; however it was still higher than the 10-year average (up to fiscal 2022) of 10%. Key Points
Economic Times
OnePlus Nord CE 4 new leaks emerge: Here's everything we know so far ahead of launch on April 1
The OnePlus Nord CE 4 is creating buzz with its upcoming launch, promising upgrades like new color variants, a 6.7-inch Fluid AMOLED Panel, Snapdragon 7 Gen 3 chipset, 8GB RAM, 1TB expandable storage, and a 5,000 mAh battery with 100W charging. Key Points
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