Adani Transmission, Adani Ports and Special Economic Zone exposed to heightened contagion risks: Fitch
The Hindu
Global ratings agency Fitch said two Adani Group companies viz. Adani Ports & SEZ Ltd. and Adani Transmission Ltd. were exposed to “heightened contagion risks,” possibly affecting their financial flexibility on account of weak governance in the group.
Global ratings agency Fitch said two Adani Group companies viz. Adani Ports & SEZ Ltd. and Adani Transmission Ltd. were exposed to “heightened contagion risks,” possibly affecting their financial flexibility on account of weak governance in the group.
Fitch, in the report released on Tuesday in Singapore, said Adani Transmission Ltd. and Adani Ports and Special Economic Zone Ltd. “would be capped at current rating level of ‘BBB-/Stable’ till the alleged concerns are ironed out.”
The U.S.-based credit rating agency held that the debt of Adani group’s rated Indian entities as of end-December 2022 was offshore and largely secured, with U.S. dollar bonds maturing only from mid-2024, suggesting no immediate concerns about repayment.
According to its research on the group’s financials and cash flow, all rated entities or restricted groups would benefit from cash flow generation from January 2023 to March 2024.
Fitch also highlighted that the contagion risk was lower for restricted groups.
Meanwhile, after two consecutive days of hammering at the bourses; the stocks of some Adani Group firms recovered on Wednesday with the flagship Adani Enterprises rising by 8.75% and Adani Port and SEZ Ltd. by 7.25%.
On Tuesday late night, the group came out with a statement terming reports of the group not completing repayment of $2.15 billion share-backed debt as “baseless and deliberately mischievous.”
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.