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Strength of next govt s mandate to influence fiscal consolidation, governance trajectory: Moody s

Last month, rating agency Fitch had said the Modi government is "most likely" to retain power in India and hoped that policy continuity would be maintained.

Stock Market Today: Top 10 things to know before the market opens

Foreign institutional investors (FIIs) sold shares worth Rs 990.90 crore, while domestic institutional investors (DIIs) purchased Rs 104.23 crore worth of stocks on January 9, provisional data from the NSE showed.

Moody s downgrades rating on senior unsecured bonds issues by Vedanta Resources

Moody s downgrades rating on senior unsecured bonds issues by Vedanta Resources
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Moody s on Vedanta Resources bonds: Moody s downgrades rating on senior unsecured bonds issued by Vedanta Resources

The rating for the Corporate Family Rating (CFR) of Vedanta Resources was also downgraded to Caa3 from Caa2, Moody s said. Last week, Vedanta Resources, the UK-headquartered parent company of Vedanta group, received bondholders approval to restructure four series of bonds.

Moody s downgrades rating on senior unsecured bonds issues by Vedanta Resources

The company’s ratings reflect its unsustainable capital structure characterised by high financial leverage at the holding company and its perennially weak liquidity amid a period of continued large negative free cash flow, Moody’s said.

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