by Amruth Sundarkumar | Nov 25, 2022 | Corporates, India
Adani has planned to raise $5bn in equity capital in an attempt to silence criticisms that it has been subjected to – high leverage, limited investor base and low stock liquidity. The capital raise is touted to help them deleverage and reduce debt ratios that...
by Amruth Sundarkumar | Nov 24, 2022 | China, Corporates
Five of China’s large property developers have received a combined $30bn in credit line support from three of the largest state-owned banks to support the property sector. BOCOM said it agreed to provide a RMB 100bn ($14bn) credit line to China Vanke and an RMB...
by Amruth Sundarkumar | Nov 16, 2022 | Corporates, India
Vedanta denied rumors of exiting its steel business by confirming their prioritization of the expansion of Electrosteel Steels Ltd (ESL) from 1.5mn tonnes to 3mn tonnes. This comes after an ET report had mentioned that Vedanta was rumored to be selling-off ESL to...
by Amruth Sundarkumar | Nov 14, 2022 | Corporates, Southeast Asia
SoftBank Group reported a net profit of JPY 3tn ($21.6bn) in the quarter ended September vs. a JPY 3.1tn ($22.3bn) loss in the prior quarter. However, it saw a massive investment loss of JPY 1.38tn ($9.9bn) for its two Vision Funds – this included losses in...
by Amruth Sundarkumar | Nov 7, 2022 | Corporates, India
Adani Enterprises’ net profits rose 117% YoY to INR 4.6bn ($55.5mn) in the quarter ended September. Its revenues almost tripled to INR 381.8bn ($4.7bn) with several of its businesses including its airports and mining that performed. However its total expenses...
by Amruth Sundarkumar | Nov 7, 2022 | Corporates, Credit Ratings, India
Vedanta Resources’ dollar bonds dropped over 2 points after it terminated the credit rating services of Moody’s. The rating agency downgraded the company’s rating to B3 from B2 last week citing increased refinancing pressures as the company is yet to...
