Briefly Business:No immediate downgrade threat, says Fitch

Aug 23 2013, 03:16 IST
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SummaryUnchecked fiscal deficit and high inflation could lead to a negative rating action.

New Delhi: Fitch has said there is no immediate trigger for India’s rating downgrade, but warned that unchecked fiscal deficit and high inflation could lead to a negative rating action.

Trai for 100% FDI in broadcast carriage

New Delhi: Trai on Thursday pitched for raising FDI limits in the broadcasting sector by recommending that up to 49 per cent foreign investment should be allowed for uplinking news and current affairs channels and FM radio and 100 per cent in broadcast carriage services.

NHPC to buy back shares worth R1,600 cr

New Delhi: State-owned NHPC will buy back shares worth Rs 1,600 crore instead of going through offer for sale, according to sources. The government had earlier planned to disinvest 11.36 per cent stake in NHPC through OFS .

Neeru Abrol given charge of NFL CMD

New Delhi: National Fertilisers Ltd has said Neeru Abrol, director (Finance), has been given the additional charge of chairman and managing director of the state-owned firm. Abrol will replace R G Rajan, CMD of RCF, who was given the additional charge of NFL’s CMD in January.

Essar Power FY’13 net loss at R512 crore

New Delhi: Essar Power has reported a net loss of Rs 512 crore for the financial year ended March 31, 2013.

Nasdaq stops trading on tech problems

New York: Nasdaq has suspended trading of all stocks and options due to technical problems. The exchange halted trade in all “Tape C” securities, which includes options and securities. A message from Nasdaq around 1615 GMT recommended traders route transactions to other exchanges.

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