Moody's has raised Reliance Industries' credit rating to Baa1. The new rating stands two notches above India's sovereign rating.
The upgrade reflects Reliance's strong business profile. The ratings agency cited counter-cyclical business segments, significant international exposure with over one-third of revenues from exports, and limited reliance on government-linked revenues as key factors supporting stable earnings across cycles.
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Argentina's credit rating rose to B- after Fitch Ratings' decision, driving the country risk down to 496 basis points on Monday, May 11. The indicator had not broken that level since late January.
Moody’s Ratings has changed South Africa’s credit outlook to positive from stable while keeping its Ba2 rating unchanged. The move reflects progress on fiscal management and reforms.
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Fitch Ratings upgraded South Africa’s long-term foreign and local currency ratings from BB- to BB on 5 June with a stable outlook, the agency’s first upgrade for the country in more than 20 years.
Several brokerages have identified 10 largecap stocks in India with significant upside potential despite rising oil prices from the US-Iran war. Crude oil has surpassed $125 per barrel, fueling inflation fears and market uncertainty. Stocks like HDFC Bank and Bharti Airtel top the lists from firms including Jefferies and Axis Direct.
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Credit rating agency Fitch upgraded Tigo's national rating to AAA with a stable outlook. The change follows Millicom's full acquisition of the company after taking EPM's stake. The upgrade reflects improved operational performance and a strong market position.
Bajaj Finance shares have fallen 18% so far in March, wiping out more than Rs 1 lakh crore in market value. The decline, which exceeds 20% over the past month, coincides with escalating Iran-US tensions. Factors including rising oil prices, inflation concerns, and Moody’s macroeconomic warnings have pressured financial stocks.
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India is set to reapply for inclusion in major global bond indices after introducing tax exemptions for foreign investors. The country has also expanded its pool of long-dated securities to strengthen its appeal.