While the rating agency downgraded India’s sovereign rating, BofA Securities’ economists see the present downturn as cyclical rather than structural; say fiscal stimulus is critical for recovery.
The extension, which takes the total day-count of the lockdown to 54, will add to the challenges that the economy was already facing before Covid-19 took the shape of a pandemic.
Facebook’s $5.7-billion investment in RIL’s subsidiary will help both companies monetise their digital platforms; it will also aid in deleveraging RIL’s balance sheet, says Fitch Ratings.
India’s top listed developers are realigning their strategies to meet market demand; top 10 developers sold 8.57 million sq. ft. of space in the December 2019 quarter.
Moody’s cut its India outlook due to concerns of weak growth and fiscal risks. The S&P BSE Sensex closed at 40,323.61, 300 points lower than the previous day’s closing figure.
The government’s partial credit guarantee on asset purchases does not address investors’ long-term concerns about the sector’s exposure to stressed real estate: Fitch Ratings.
